In a commercial lease there is a lot more at stake than just rent money; the success or failure of the business can hinge on the lease. Renters who do not take the time to consider carefully the terms of their agreement may face hefty maintenance costs, discover themselves responsible for unexpected taxes, or even find their business without a home. Illinois protects commercial lessees in three areas of particular importance. Habitability To protect residential tenants from exploitation by … [Read more...]
Search Results for: sell a home
Will New Real Estate Lien Law Prevent Messy Title Issues?
Posted on January 11, 2016 //
An amendment to the Illinois Mechanics Lien Act should decrease the real estate transaction problems caused by contractor’s liens. Public Act 99–0178 changes the Lien Act as of January 1, 2016. The new provision allows a property owner or “…other person having an interest…” to substitute a surety bond for lien rights. A bond can free the property from a contractor’s attachment while allowing him to retain his right to recover payment. The property can be sold while payment disputes are resolved … [Read more...]
Spike in Deed Fraud An Epidemic in Major Cities
Posted on November 29, 2015 //
As advances in technology continue to develop and an increasing number of Realtors place properties and sales records online to enhance the transparency of real estate transactions, a spike in deed fraud has become an epidemic in some major cities. The rising threat has begun to target unsuspecting homeowners in cities like New York, Chicago and Detroit. A recent report about Sybil Patrick, whose beautiful brownstone home was sold for $750,000 without her knowing, clearly portrays the … [Read more...]
Be honest when discussing your children’s inheritance
Posted on July 29, 2015 //
When a Brooklyn art collector died, he left seven Monet works of art to his son. According to JP Updates, the son was supposed to keep one painting and distribute the rest among his six siblings. However, the son fell ill and struggled financially, resulting in a multi-family dispute over the paintings. Any Bensenville estate planning lawyer would know that leaving property to people with the intention of having them distribute it to others leaves room for uncertainty. Discussing plans for … [Read more...]
Every adult should have a power of attorney
Posted on June 28, 2015 //
When she was 26, a Chicago resident was diagnosed with ovarian cancer. WGNTV reports that now, at 41, the cancer is back and the woman worries about how her children will handle her end-of-life concerns. The woman was reluctant to appoint one of her children as her power of attorney, as she herself had to care for her own mother, who died of cancer.The woman’s home health care advocate convinced her to put her wishes in writing, which the woman says has brought her peace of mind. Any … [Read more...]
Improve your curb appeal and attract buyers with these 3 tips
Posted on June 25, 2015 //
Working on the appearance of a home can be time-consuming, but industry experts say it is well worth the investment. According to a report in The Washington Post, homeowners in Illinois and across the country can expect a 150 percent return on investment for landscaping projects alone. Where and how homeowners spend their money can affect how quickly the house moves, as any Oak Lawn property lawyer would know. Sellers should invest in making these three changes to boost their curb … [Read more...]
What is a balloon mortgage?
Posted on April 15, 2015 //
When homebuyers in Illinois go to purchase a new home with the help of a real estate attorney in Gurnee, one financing option available to them is a balloon mortgage. These loans require a payment at the end of a specific time period that is larger than the regular monthly mortgage payments. Typically, the balloon payment is twice as much as the loan’s average monthly payment and can often equate to tens of thousands of dollars. The benefits of a balloon mortgage There are many benefits … [Read more...]
3 things you should look for in a real estate agent
Posted on April 13, 2015 //
When property owners in Illinois get ready to sell their home or find a new one, they often seek the assistance of a Lake Bluff real estate lawyer and a real estate agent. To ensure the buying or selling process goes smoothly, there are a few different qualities buyers and sellers should look for in their real estate agent. Creativity Some real estate transactions go exactly as planned, while others are fraught with delays and other unique situations. Although buyers and sellers cannot … [Read more...]
Should you really buy the biggest house in the neighborhood?
Posted on February 8, 2015 //
When property buyers go to purchase a new home with the assistance of a real estate agent and a real estate lawyer in Illinois, they are often attracted to the largest home in the neighborhood where they want to live. While having enough room is beneficial, there are a few reasons why home buyers should avoid purchasing the biggest home they possibly can. Why the biggest house isn’t necessarily the best After purchasing the largest home in a neighborhood, homeowners may have a difficult … [Read more...]
Making provisions for collections in your estate plan
Posted on January 20, 2015 //
When a young woman’s mother died, she was left with handling the estate. According to The Epoch Times, the mother had an extraordinary antique collection that included chandeliers, sconces and furniture. Unfortunately, the young heir did not have a sense of the value of the items, and she sold her mother’s home with all of the antiques included. As an estate planning attorney Rolling Meadows knows, people in Illinois and elsewhere should make sure that collections of either monetary or … [Read more...]
