Real Estate Closings in Bridgeview, IL Require Knowledgeable Legal Counsel
Illinois law firm competently protects clients in real estate sales and purchases
The real estate closing — the final step in the purchase and sale of real property — requires a lot of preparatory work even before the parties come to the table. That is why it is essential for the buyer to retain a competent real estate closing attorney. Skinner Law Firm, P.C. has a firm grasp of all the intricacies of real estate transactions and will make sure all preliminary tasks have been properly concluded, so that you can attend the closing with confidence that your deal will go through.
Seasoned attorneys ensure conveyance of free and clear title
After a real estate contract is signed and a mortgage commitment is secured, the closing attorney will arrange for a title examination. This means a search in the Recorder of Deeds office in the county where the property is located to make sure title can be traced back to the property’s original owner. It also searches for other interests that might put a cloud on title, such as mortgages, liens and easements. You can count on us to conduct a careful examination to identify any problems with the seller’s title so that the sale can be avoided or that proper action can be taken to clear up correctable issues.
Further protecting the buyer with title insurance
Even if the title examination comes up clear and any clouds on title seem rectified, the buyer needs to be protected against unforeseen issues that may arise. Title insurance is a policy that pays for a defense of the title if it is challenged and for damages if the title is found to be defective. A mortgage lender usually requires separate title insurance covering the amount of its loan. However, title insurers often attempt to include extensive exceptions from coverage. We carefully review all proposed exceptions and fight against those that unduly compromise the insured parties’ interests.
Coordinating and completing the transaction
The closing attorney facilitates coordination and communication between the buyer, seller, seller’s attorney, brokers, mortgage lenders, title insurers and others involved in the transaction. If any problems arise in advance of the closing, we work to iron them out. On the day of the closing, we review and finalize all essential documents, including the RESPA settlement statement, which breaks out all closing costs and how they are to be disbursed. When the parties sign the necessary papers and moneys change hands, the deal is done. We then make sure that the deed and mortgage are recorded.
Contact a skilled Illinois real estate closing lawyer for a free initial consultation
If you are closing on real estate, Skinner Law Firm, P.C. will offer the sound advice and effective representation you need. We have been providing trusted legal services throughout the Cook County area for nearly 20 years. Please call 312-635-6459 or contact us online to schedule a free consultation at our Bridgeview office.