Avoid These Issues When Closing A Home – Real Estate Law In Illinois

This article explains:

• Common issues during the closing process of buying or selling a home.
• If you can request a credit or enter into an agreement with the seller who fails to make a repair.
• How important an affidavit is to closing the sale of a home.

What Are Some Common Issues That Arise During The Closing Process That An Attorney Can Assist With?

The most common issue is the seller’s failure to make the agreed to repair(s) by the time the buyer and their realtor do the final walkthrough. Often sellers make repairs, but not the repairs that were actually agreed upon. Sometimes they do not make any repairs at all. If this happens, you will essentially need to get the seller to issue another credit or enter into another agreement stating when the repair will actually be completed.

This same situation also applies to installing new appliances. Sellers often do not install appliances as agreed for whatever reason. An attorney is a great aid in negotiating these situations if they arise.

Another thing is when an issue arises with the affidavit. For example, if it turns out the seller is not the rightful owner of the property and indicated their heirs were going to transfer their interests, but they miss the actual affidavit, an attorney can be a tremendous help in navigating this situation.

Less critical is when one of the parties involved simply cannot make a date scheduled by a further removed party, such as a lender.

The least common but still nevertheless an issue is when a seller is a landlord, and their tenants have not left the property yet. Unfortunately, the numerous laws related to this issue can quickly become complicated and make the situation difficult to handle without an attorney.

For more information on Real Estate Law in Illinois, a free initial consultation is your next best step. Get the information and legal answers you are seeking by calling (888) 594-4785 today.