Selling Non-Homestead Property and Investment Real Estate

Selling non-homestead property and investment real estate.  Non-homestead property is property that is not one’s primary real estate such as a vacation home, investment property, or a former home.  Gateville Law Firm and Sean Robertson provide reliable and skilled real estate law services to sellers and buyers of non-homestead property such as investment property, vacation homes, and other real estate.


Residential real estate transactions are complex business and real estate transactions partly due to the volume of legal documents involved in a residential real estate closing.  Legal documents have significant legal impact and one must understand what they are signing.  Real estate transactions also involve a variety of legal issues such as mortgage documents, title documents, seller’s closing documents, and many other documents.  Hiring a skilled and experienced Naperville, Yorkville, and Shorewood law firm is an investment in your family’s financial future.  Seeking guidance for an expert or a skilled attorney is wise.  Attorney Robertson has been involved with real estate for over 15 years.


A real estate attorney will review your Multi-Board Residential Real Estate Contract and make modifications during the attorney review process to protect your financial interests.  Families and individuals can have peace of mind when they hire a skilled and experienced real estate attorney.  Legal contracts explain the rights and responsibilities of buyers and sellers and explain how the transaction will be coordinated including a closing date.  Real estate purchase agreements have important deadlines, which must be met.  Extensions are okay as long as one understands that the deadlines should be honored.  The real estate purchase agreement is the most significant legal document involved in a residential real estate transaction.  Moreover, the attorney review and inspection periods involve substantial modifications which will impact buyer and sellers’ financial interests and legal concerns.  These terms of negotiation and modification of the real estate contract will include issues such as tax pro rations, home inspections, financing issues and terms (including deadlines), and earnest money among other things.


Home inspection issues can be costly for sellers and buyers.  Hiring a good home inspection is a necessity in the purchase and sale of residential real estate such as investment property or vacation homes.  Gateville Law Firm understands the home inspection issues, reports, and repair negotiations because we concentrate in residential real estate law.  In real estate disclosures are extremely important as well.  Issues such as homeowners claims, mold issues, and other issues will likely affect the home repair and negotiation issues (if applicable) to your transaction.  Sellers and buyers have deals terminated due to home inspection issues and repair issues.  Attorney Robertson is a skilled negotiator and real estate attorney with significant experience negotiating home repair and home inspection issues.  Credits and price reductions are also considered during the home inspection period.


A real estate lawyer and attorney will work with you and the buyer’s representatives to ensure timely compliance with financing and loan issues.  Mortgage companies require a significant number of documents to be timely uploaded and given.  In some cases, buyers do not properly respond to the time constrains of a residential real estate closing.  Gateville Law Firm will work and check with the mortgage company and opposing attorney to see how the financing review and contingency deadlines are coming.


Another responsibility of a real estate attorney and his or her staff are to order a survey.  A survey is typically required for the sale of investment property and real estate in general.  Surveys inform all parties of whether there are issues with property disputes or issues that may arise after closing which could be costly for prospective buyers.  Homeowners Associations and Condominiums have letters called paid assessment letters that must be obtained.  A paid assessment letter and a right of first refusal letters inform the parties of whether there is an outstanding balance that must be paid at closing or whether the Homeowners Association or Condo Association wants to exercise its’ first right of refusal.  Moreover, there are voluminous of documents such as Bylaws and Agreements that people are agreeing to honor when they purchase into a Homeowners Association or Condo Association.  Furthermore, Broker

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Yorkville, Illinois 60560