If I Am Selling My House, Do I Need a Lawyer?

 Posted on October 18,2023 in Residential Real Estate

While a lawyer is not strictly necessary when you are selling your house, having one can help immensely. Selling your house is likely one of the most complex transactions you will ever engage in. Even smaller and older houses are quite valuable at the moment. Real estate prices are some of the highest they have been in a very, very long time. You likely stand to profit tremendously if your home sale is successful. A lawyer can help make sure that everything goes smoothly while protecting you from possible future liability. There is a certain amount of risk involved in any real estate transaction, but your attorney can take steps to minimize your risk, such as making sure the proper title insurance is in place. There is a nearly endless amount of different legal issues that can come up during a real estate transaction. Having an Illinois real estate lawyer already on board and prepared to address potential concerns can set you up for a successful sale. 

Minimizing the Risk of Liability

A home seller can be liable to the buyer if certain things go wrong during or after the transaction. One of the first things your attorney is likely to do to protect you is to conduct a title search. A title search will reveal the chain of past owners. This helps your lawyer make sure that there is no one else who could possibly have a claim to owning the property. If there is an alternate claimant and they go after your buyer legally, it could come back to haunt you. 

If there is any chance that someone else could reasonably claim to have an ownership interest in the house you are selling, your attorney will need to take further steps, such as drafting the sales document a different way so that you are only selling the ownership interest you do in fact have. If there is no one else with a possible claim, you can be said to have “clear title.” 

Your attorney can also supervise the inspection to ensure that you are only making accurate promises about the condition of the house. Making a false claim about the house’s condition, even inadvertently, could become a problem later. 

Finally, your attorney can do a deep dive into any other laws that might affect your property, such as applicable zoning laws or covenants attached to the property. Your attorney can work to ensure legal accuracy in all sales documents after investigating. 

Contact a Chicago, IL, Real Estate Lawyer

The Sherrod Law Firm, Ltd. is experienced in helping homeowners sell their properties. Our dedicated Cook County real estate attorneys will take every possible step to protect your interests. Contact us at 312-321-6910 for a complimentary consultation.