Chances are you have heard it a time or two: purchasing a house is the biggest investment you will ever make during your life. There are serious legal consequences when you make mistakes or some type of omission during this purchasing process, which can cause serious headaches. While you may have heard a number of different thoughts about if you should hire a Residential Real Estate Lawyer of Chicago, the fact is that it is typically a very smart move to hire one.
While the cost of the Residential Real Estate Lawyer of Chicago will vary, you can typically expect to pay about one percent of the total cost of your home. There are some attorneys who will charge a simple flat rate, while others will opt to charge you an hourly rate. You should be sure to request some type of retainer agreement, which will outline the charges of the attorney and their responsibilities. You should ask your real estate agent for recommendations of attorneys who are able to help with your situation.
The attorney that you hire will provide a number of services, such as reviewing the purchase contract. This is strongly recommended for all buyers but especially for those purchasing their first home. The lawyer that you hire will also work closely with the mortgage loan office you are using, the attorney retained by the seller of the home and the real estate agents to ensure that all of the dates are confirmed for things such as the mortgage commitment, home inspection and a number of other contingencies.
The attorney that you hire will also take time to review all of the important documents, such as bills of sale, the deed and other paperwork to ensure that everything is in order.
While you can proceed with the purchase of a home without an attorney, hiring one can save you time and money. For more information about hiring a real estate attorney, contact the law office of Starr, Bejgiert, Zink & Rowells. This will ensure that you make the right decisions for your needs and ensure that all of the paperwork and other aspects of a purchase are in order.