Marc J. Blumenthal now offers video conferencing for initial estate-planning meetings. Click here to schedule
marcjblumenthal

ESTATE PLANNING, BUSINESS,
AND REAL ESTATE LAWYER

I’m ready to get started

What’s Hot and What’s Not in Chicago Real Estate?

Search Results for: sell a home

What’s Hot and What’s Not in Chicago Real Estate?

A small house model and piles of coins at the background Some housing market trends in the Chicago area remain strong, while others falter. The real estate market in the Chicagoland area has shown some slowing through 2019, however, it has not stopped entirely. Certain areas of the market continue to see significant movement. Stability in the Market Despite concerns over a possible recession and crime in the area, the Chicago housing market remains stable. With a population of over 2.7 … [Read more...]

3 Alternatives to a Reverse Mortgage

Reverse mortgages are not the only option for retirees looking to enhance their cash flow. Alternatives, like refinancing the existing mortgage, taking out a home-equity loan, or selling the property might help some people reach their goals. Evaluating financial circumstances and retirement objectives can help homeowners determine which route is the best fit. Refinancing For homeowners that are struggling with their monthly payments, refinancing is a potential option. Refinancing may allow … [Read more...]

5 Ways to Get Out of a Reverse Mortgage

There are various options available to homeowners who decide to get out of their reverse mortgages. Aside from dying or selling the home, borrowers can exercise their right of recission, repay the loan balance, refinance with a conventional mortgage, tap into their savings, or choose another reverse mortgage. When deciding which option to choose, the length of time since the money was borrowed and the consumer's overall financial situation play an important role. Indicators that a Reverse … [Read more...]

Planning Your Estate: How to Make Sure Your Kids Can Keep the House

Parents who wish to leave their house to their kids can employ a variety of tactics to ensure their wishes are honored. Working with an estate planning attorney to create a will and a living trust, and making sure all the right wording is included in the deed is often necessary to ensure all bases are covered. Wills A will is a legal document that is set-up and signed by the testator to transfer property and money upon death. A will can be used to transfer anything the testator owns to … [Read more...]

What to Expect at Closing

Closing costs include fees paid to third parties that facilitate the sale of the property and can include inspections, attorneys’ fees, and brokerage fees. Closing costs are typically paid once the sale is closed but some are paid before (i.e. home inspection fees). Closing costs range from two to seven percent of the purchase price. The method used to calculate closing costs dramatically changes the closing costs imposed because buyers and sellers respectively do not share in the costs … [Read more...]

Check With HOA For Defects Before Buying A Condo

Homeowners’ associations (HOAs) are valuable resources when checking for possible defects before purchasing a condo. Because the HOA is not incentivized by the possibility of a large payout or to lie, deceive or mislead a prospective buyer, consumers may be able to access more detailed and honest information than they might otherwise. Sellers are incentivized to paper over defects in the building or other issues that are currently being contested because their goal is to sell the unit and move. … [Read more...]

Importance of Due Diligence Before Completing a Real Estate Transaction

Due diligence can help prevent homebuyers in Illinois from losing thousands of dollars. This is a vital part of the home buying process and one that is the responsibility of the buyers. While Illinois does require sellers to disclose material defects in the homes, there are additional factors that the buyer should consider when deciding whether or not to go through with the transaction. Buying residential real estate may be one of the largest financial transactions that home buyers ever complete … [Read more...]

Is a Reverse Mortgage Right for You?

Reverse mortgages offer options to senior homeowners who are struggling to maintain a certain lifestyle. Although they have advantages, they're not right for every homeowner. An attorney real estate can explain the legalities of a reverse mortgage and the impact on finances and home equity. The Facts About Reverse Mortgages A reverse mortgage is a federally backed FHA loan that enables senior homeowners who are 62 years old or older to convert part of their home's equity into cash. Reverse … [Read more...]

What Businesses Should Know About the Three Day Right to Cancel Law

Business owners in Illinois should understand which transactions consumers have the right to cancel within three days. What Business Owners Need to Know Starting a business in Illinois requires owners to navigate their way through a series of complex paperwork. Many people are aware of the three-day right to cancel laws, but not everyone understands that it does not apply to all transactions. In fact, it only applies to the following: Door-to-Door Transactions In Illinois, … [Read more...]

New Regulations Affect Illinois Realtors in 2016

Of the more than 600 bills crossing the governor’s desk in 2015, several dealt with real estate issues. New programs regarding property foreclosures, fraud alert systems, and other changes went into effect as of January 1st. Both realtors and those looking to buy property should take a moment to understand the changes, some of which are listed below. Property Foreclosure Pilot Program Cook County now has a pilot program that permits documents recorded against properties in foreclosure to … [Read more...]

    Get Help Today!

    Simply fill out the our online form, and one of our attorneys or staff members will contact you to schedule your appointment.

    We value your privacy. Your information will not be shared without your permission.

    The use of the internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

    I have read and understand the disclaimer

    Memberships & Associations

    • logo
    • logo
    • logo
    • logo
    • logo
    • logo