Richton Park Real Estate Lawyer

Knowledgeable Real Estate Attorney for First-Time Buyers and Landlords in Richton Park, IL

The purchase of a house or property is a major milestone for anyone, and it is incredibly important that you do it right. There are complex factors at play in a real estate purchase, including inspections, appraisals, contingencies, title searches, and more. Whether you are buying a home for your family or investing in a multi-unit property to rent out to tenants, it is important to be aware of the risks and how best to mitigate them. An experienced real estate lawyer can provide valuable insights and legal help to ensure that your rights will be protected.

At The Sherrod Law Firm, Ltd., we are proud to represent the people of Richton Park in matters involving real estate. Attorney Constance Sherrod can serve as your trusted advisor, thoroughly reviewing land use and zoning laws, chain of title, and any other issues that may affect a transaction. We can assist with purchases and sales of property, and real estate investors can rest assured that we will work to mitigate risk whenever possible while helping to make financially beneficial decisions.

Richton Park Real Estate Lawyer for Home Buyers

Buying a house is a massive step forward, and it is important to make sure all legal concerns will be handled correctly during the transaction. Our skilled real estate attorney can run a title search on the property, an investigative process of looking into the property's history of legal ownership. A title search will also shed light on any issues that would prevent you from buying the house, including other claims or liens.

Our attorney can also be one of your greatest allies during the negotiation stage of buying real estate. We will make sure your purchase contract has the required contingency clauses based on your unique circumstances. These clauses can protect you from being bound by an unfair contract or being subject to terms that you may not have been aware of as a first-time home buyer. We can also make sure all legal issues that may arise during the transaction, such as repairs of defects uncovered during a home inspection, will be addressed correctly. We will be by your side during the closing process to make sure you can complete the transaction correctly.

Legal Help With Rental Properties

Investing in a multi-unit property to rent out to residential tenants can provide you with sustainable, long-term income. Our real estate lawyer can work with you to mitigate the risks involved in purchasing and owning these properties as much as possible.

When you purchase a multi-unit building, there will likely be tenants currently residing on the property who have leases that must be honored. Our skilled real estate attorney will assist in drafting legally sound leases with your tenants that comply with the applicable laws. We can also help you sell a property with existing tenants and address any legal concerns that may arise during the transaction.

Richton Park Real Estate Lawyer for Creating Land Trusts

In some cases, it may be beneficial to create a land trust, which is a private option for holding real estate. A land trust may be used in situations where a property has multiple owners or when a person plans to transfer ownership to their family members. Land trusts can also provide benefits to real estate investors. Our real estate attorney can assist with the drafting of a land trust, ensuring that specific terms will be included as needed. We can also make sure ownership of property held in a land trust will be transferred correctly.

Passing Property to Heirs or Selling Inherited Property

Ownership of real estate property can be a major consideration during the estate planning process. In some cases, the easiest way to transfer a home or other property to beneficiaries is through a transfer on death instrument. This will allow heirs to assume ownership without the need to go through probate. Our lawyer can ensure that transfer on death instruments are set up correctly while also addressing other estate planning concerns.

Those who have inherited real estate property and wish to sell it will often want to bypass the probate process so they can avoid legal complications and expenses. Our attorney can provide guidance on the options for selling inherited property, including working with a title company to create a bond in lieu of probate. We will make sure all legal concerns are handled correctly during these transactions.

Contact Our Richton Park, Illinois Real Estate Attorney Today

The Sherrod Law Firm, Ltd. provides assistance with a wide variety of real estate matters, from residential purchases and sales to implementing asset protection measures. Our clients have praised us for our "smooth, understandable, and timely" handling of home purchases, demonstrating our focus on keeping property owners informed of risks at every juncture and ensuring that they will be able to complete transactions and address other concerns effectively. For a free consultation, contact us at 312-321-6910 to speak with a real estate attorney.