Individuals who have purchased property in the past know how complicated a real estate contract can be. However, even those with experience may find that they are facing an unforeseen liability due to signing the contract without fully understanding it. Real estate law firms in Chicago understand this and work with clients every day to make certain they understand what they are agreeing to when signing this type of document. How can they be of help?
The Duties of a Real Estate Attorney
A real estate attorney reviews a sale or purchase contract to ensure all of the details are covered and that this contract outlines the obligations and responsibilities of all parties involved in the transaction. A person may back out of the transaction at the last moment or refuse to pay as agreed. The attorney’s role is to ensure their client is protected from legal liabilities in the future with regard to the real estate. Furthermore, real estate law firms in Chicago work to ensure the client is treated fairly and work on the client’s behalf when a dispute occurs.
Types of Real Estate Contracts
People often think of the purchase or sale of a home when a real estate contract is mentioned. This is only one type of contract found in the industry, however. Real estate law firms also work with rental agreements, land construction and development contracts, commercial real estate documents, and short sales. All are legally binding contracts and should be reviewed by an attorney before the client proceeds with the transaction.
Each type of contract, however, comes with a unique set of challenges. For this reason, an attorney experienced in all types of real estate law in the state needs to review the documents to locate any pitfalls. Illinois real estate law differs from laws in other states and one cannot be too careful when spending money on this type of purchase.
Visit the website of Starr Bejgiert Zink & Rowells or call the firm today for help. The attorneys work with individuals and businesses every day to make certain their rights are protected at every stage of a real estate transaction. They will do the same for you.
