Selling a home and buying a home is an exciting period in one’s life. Home ownership represents the American dream and promise. The home buying and sale process is a complex process which requires an experienced real estate lawyer in Joliet. Gateville Law Firm is a skilled and responsive real estate lawyer in Joliet and Will County. Whether you are buying a new home or selling a home (and purchasing another home), hiring a reputable real estate attorney in Joliet is critical.
Gateville Law Firm is a quality and experienced residential real estate law firm serving Joliet and the surrounding areas. Our law firm focuses on Will County and surrounding areas such as the following:
- Crest Hill
Client satisfaction is critical, and we rely on client and realtor referrals. We provide excellent customer service and responsiveness. Our real estate attorneys in the Joliet area understand the importance of the real estate closing transaction on the families that we serve.
Understanding the Home Sale Process in Joliet
The home sale process in Joliet and the surrounding areas is unique. Attorney Robertson has valued relationships and understands the real estate closing process in Joliet and the surrounding areas. One of the key things that the real estate attorney must do is coordinate the real estate transfer tax process through the City of Joliet. We timely perform the home sale process tasks because we are committed to having smooth real estate closings.
The first step in the home sale process is creation of the real estate purchase agreement. The real estate purchase agreement dictates the rights and obligations of the buyers and sellers including the following:
- The purchase price
- Loan contingency terms and deadlines
- Attorney Review and Home Inspection deadlines (typically five business days)
- Tax Pro Rations
- The type of loan (conventional, FHA, VA, or ILHDA)
- Deadline for delivering the title commitment and survey
- Closing costs and home warranties
- Default provisions and
- Earnest Money
The second part of the real estate process is the attorney review and home inspection periods. The attorney review period is the opportunity for a seller or buyer to modify the terms of the real estate contract. The home inspection period is the process where the buyer hires a home inspector to give a report detailing the condition of the home. The home inspection report will dictate whether items must be repaired or whether a seller will provide the buyer a credit towards the purchase price.
The third part of the real estate sale process is to order title. The title will be ordered from a reputable title company. In fact, ordering title is one of the first steps in the closing process in Joliet and Illinois. Title insurance is generally required and sellers through their attorneys must secure title insurance to insure the real estate closing transaction. The title will show applicable homeowner association (HOA), covenants and restrictions against the property, and any outstanding liens or judgments against the property. A reputable seller’s attorney will coordinate the closing process for the home sellers.
Role of a Seller’s Real Estate Closing Attorney
Gateville Law Firm and Sean Robertson will guide the sellers and buyers through the home sale process. We will review the real estate contract and educate the sellers and buyers on the home selling process. We will answer your key questions and anticipate issues prior to them becoming issues. We also keep clients well-informed on the process and update them on the closing process. Finally, we provide for pre-signing of closing documents and explain the closing documents to our seller clients. Pre-signing closing documents are critical because sellers do not have to miss work or attend the real estate closing.
SKILLED AND QUALITY JOLIET REAL ESTATE LAWYERS
Sean Robertson and Gateville Law Firm concentrates in residential real estate closings. Real estate closings are what we do every day. We will guide sellers and buyers on the home buying and selling process. Attorney Robertson is eager to assist you. Call us at 630-780-1034.