Illinois Real Estate Agreements Attorneys
Combined Experience of Five Decades of Real Estate Legal Experience
If you are a buyer, seller, renter, landlord, or other party preparing to enter into a real estate agreement, it’s important to have a trusted legal advisor on your side. A seasoned real estate attorney will ensure that your real estate agreement is executed with all appropriate due diligence, that the terms of the agreement protect your rights and your interests, that all appropriate contingencies are accounted for, and that you are getting the favorable deal that you deserve.
If you’re planning to enter into a real estate agreement in the Chicago area, contact the Illinois commercial and residential real estate agreement lawyers at MacDonald, Lee & Senechalle, Ltd. We’ll stand by your side from your contract’s negotiation and drafting through execution, and should any liability arise down the line, we’ll protect your interests and your finances.
Full-Service Representation for Illinois Real Estate Agreements
The seasoned commercial and residential real estate attorneys at MacDonald, Lee & Senechalle have decades of experience representing clients at all stages of real estate transactions, from conducting initial searches to negotiating contract terms, from executing the contract to dealing with real estate legal disputes down the line. We understand the importance of your real estate transaction, and we know how to ensure that your real estate agreement preserves your investment value, generates the income you desire, limits your liabilities, and otherwise protects your rights and your interests.
Our seasoned real estate agreement legal team offers advice and representation at all steps of your real estate transaction, including the following:
- Negotiating the terms of the agreement
- Drafting and executing all documents necessary for purchase, sale, or lease of a commercial or residential property
- Obtaining funding, insurance, and other financials
- Assessing the sale price and current market fluctuation
- Obtaining deeds, conducting title search reviews and other due diligence
- Reviewing all financing agreements from sellers and lenders
- Explaining the rights and obligations of each party as dictated by the various contract provisions
- Negotiating and reviewing lease terms with tenants
- Identifying and negotiating important contract contingencies
- Accounting for land-use restrictions and zoning concerns
- Identifying any areas of concern, possibilities for future liability
- Identifying and evaluating any burdens on the land, including covenants, liens, easements, and title concerns
Real Estate Contractual Contingencies
When executing a real estate agreement, it’s important to not only write down the basics (sale price, closing date, etc.); the parties must account for important contingencies that take place before closing. The parties must determine who will be responsible for each event that must take place before the deal is done. Specific contractual contingencies vary based on location and the specific nature of the property transaction, but a few of the most common contingencies that should be accounted for in the deal documents include:
- Property appraisal, including who will pay for the appraisal, what service will be used, and the time frame for the final appraisal
- Title reporting, including who pays for the title search to identify any covenants, liens, or other title encumbrances
- Structural inspections and walkthroughs, including who pays for the inspections and any repairs before or shortly after closing
A seasoned Illinois real estate agreement lawyer at MacDonald, Lee & Senechalle will help you craft a customized agreement that fits the specific property and the circumstances of your transaction.
Call a Dedicated Chicagoland Real Estate Contract Attorney Today
If you’re in need of knowledgeable, thorough, and professional legal representation for your Chicago-area commercial or residential real estate agreement, contact the offices of MacDonald, Lee & Senechalle, Ltd. for a consultation, in Hoffman Estates at 847-310-0025, or in Des Plaines at 847-298-5030.
