Although a home may look relatively perfect during a walkthrough, it could be hiding potential problems. Unlike home appraisals, which only indicate a home’s monetary value, home inspections provide information about the home’s exterior and interior condition. An inspection should include an analysis of the home’s major components like the furnace and air conditioner, plumbing and electrical systems and an overall inspection of the roof. The main goal of a home inspection is to alert the … [Read more...]
Archives for June 2014
Common mistakes real estate buyers in Illinois make
Buying a piece of property is a large transaction. For many purchasing real estate, whether it be a new home, piece of land or commercial location, this is one of the biggest purchases they will ever make. When purchasing real estate, buyers should beware of these common mistakes in order to ensure that the process resolves smoothly and in their favor. Preparing for purchase Many buyers mistakenly begin browsing through online listings, determining how many bathrooms they want and … [Read more...]
Is there a mechanic’s lien on the property you’re purchasing?
A number of unexpected difficulties may come up while purchasing property. One little-known problem that affects some buyers is the possibility of facing a mechanic’s lien. According to Illinois Legal Aid, more than 800 of these liens were filed last year in the Chicago area alone. This kind of lien can take many years to settle, creating serious legal difficulties for new property owners. What is a mechanic’s lien? When a construction company builds a home or business property, … [Read more...]