Repairs before selling

If the buyer asks for certain repairs to be made during the inspection period, does the seller have to comply? No, you do not need to comply. Keep in mind, however, that the buyer could then possibly walk away without penalty. Here at Bradford Miller Law, we typically work those issues out and come to an agreement that is fair to both sides.

Bradford Miller Law, P.C. can assist you with all your real estate needs. From buying, selling, renting and even helping you with a building code violation we are here to help with all your real estate needs at a very reasonable rate. Our experienced Real Estate Attorneys have been representing real estate clients for several years now and have earned membership in the Better Business Bureau. At www.bradfordmillerlaw you will find information about our firm along with helpful real estate information. To discuss your pending or potential real estate transaction call us at 312-238-9298 for a Free 15-minute consultation.

Posted by Bradford Miller Law, P.C.

Practicing in Real Estate Law, Landlord Tenant Law, and Estate Planning

134 N. LaSalle, Suite 1040

Chicago, IL 60602

Offering free legal representation to homeowners seeking a short sale

Key words: Chicago short sale attorney, Chicago landlord tenant law attorney, Chicago estate planning attorney, Estate Planning Lawyer, Chicago leases, Chicago real estate attorney, Chicago real estate lawyer, Chicago real estate closings, Chicago building code violations, Short sale attorney Chicago. This is intended to be advertising.  Please consult with an attorney before acting on any information given here

Sellers, it is a good idea to interview potential real estate agents

If you will be using an agent to sell your property it's a good idea to interview several agents before you sign a listing agreement. Here are a few things you should be asking:

• Ask for their advice, what would they highlight about your home? What would they change before it goes on the market?
• Ask to see an activity list of the buyers and sellers they've represented, the areas of town and the price ranges. You do not want private details, but you want to see if they've worked in your neighborhood, in your price range and if they have a track record of successful sales.
• Ask how old the comparable sales "comps" that they are showing you? A few years ago, you could study comps that were 6 months old. Now, because many markets are changing, you want neighborhood comps that are no more than two to three months old.
• And, find out how long each has been a professional. Experience counts. 

Bradford Miller Law, P.C. can assist you with all your real estate needs. From buying, selling, renting and even helping you with a building code violation we are here to help with all your real estate needs at a very reasonable rate. Our experienced Real Estate Attorneys have been representing real estate clients for several years now and have earned membership in the Better Business Bureau. At www.bradfordmillerlaw you will find information about our firm along with helpful real estate information. To discuss your pending or potential real estate transaction call us at 312-238-9298 for a Free 15-minute consultation.

Posted by Bradford Miller Law, P.C.

Practicing in Real Estate Law, Landlord Tenant Law, and Estate Planning

134 N. LaSalle, Suite 1040

Chicago, IL 60602

Offering free legal representation to homeowners seeking a short sale

Key words: Chicago short sale attorney, Chicago landlord tenant law attorney, Chicago estate planning attorney, Estate Planning Lawyer, Chicago leases, Chicago real estate attorney, Chicago real estate lawyer, Chicago real estate closings, Chicago building code violations, Short sale attorney Chicago. This is intended to be advertising.  Please consult with an attorney before acting on any information given here

Sellers should you get your house inspected?

Some real estate agents advise against spending the money because buyers usually will get one anyway prior to closing. Others recommend it, because it gives sellers an early warning on any repairs they might have to make. Being proactive does have it's advantages. This way you will know ahead of time what problems the inspector uncovered and you can either fix them before you put your house on the market or know what to expect if the buyer wants to negotiate when they submit an offer on your property. Knowing ahead of time also allows you to shop around for the best price instead of perhaps paying an inflated price later on just to close the deal.

Bradford Miller Law, P.C. can assist you with all your real estate needs. From buying, selling, renting and even helping you with a building code violation we are here to help with all your real estate needs at a very reasonable rate. Our experienced Real Estate Attorneys have been representing real estate clients for several years now and have earned membership in the Better Business Bureau.

To discuss your pending or potential real estate transaction call us at 312-238-9298 for a FREE 15-minute consultation. At www.bradfordmillerlaw you will find information about our firm along with helpful real estate information.

Posted by Bradford Miller Law, P.C.
Practicing in Real Estate Law, Landlord Tenant Law, and Estate Planning
134 N. LaSalle, Suite 1040
Chicago, IL 60602

Offering free legal representation to homeowners seeking a short sale

Key words: Chicago short sale attorney, Chicago landlord tenant law attorney, Chicago estate planning attorney, Estate Planning Lawyer, Chicago leases, Chicago real estate attorney, Chicago real estate lawyer, Chicago real estate closings, Chicago building code violations, Short sale attorney Chicago. This is intended to be advertising.  Please consult with an attorney before acting on any information given here

What is amortization?

Amortization refers to the process of paying off a debt, often from a loan or mortgage over time through regular scheduled payments. A portion of every payment is applied towards both the interest and the principal balance of the loan. The exact amount applied to principal each time varies, with the remainder going to interest. An amortization schedule reveals the specific amounts put towards the interest and the principal balance, with each payment. Initially, a large portion of each payment is devoted to interest. As the loan matures, larger portions go towards paying down the principal.

From buying or selling property, landlord issues and, helping you with a building code violation, Bradford Miller Law, P.C. is here to help you with all your real estate needs at a very reasonable rate. Our experienced Real Estate Attorneys have been representing real estate clients for several years now and have earned membership in the Better Business Bureau.

At www.bradfordmillerlaw you will find information about our firm along with helpful real estate information. To discuss your pending or potential real estate transaction call us at 312-238-9298 for a Free 15-minute consultation.

Posted by Bradford Miller Law, P.C.
Practicing in Real Estate Law, Landlord Tenant Law, and Estate Planning
134 N. LaSalle, Suite 1040
Chicago, IL 60602

Offering free legal representation to homeowners seeking a short sale

Key words: Chicago short sale attorney, Chicago landlord tenant law attorney, Chicago estate planning attorney, Estate Planning Lawyer, Chicago leases, Chicago real estate attorney, Chicago real estate lawyer, Chicago real estate closings, Chicago building code violations, Short sale attorney Chicago. This is intended to be advertising.  Please consult with an attorney before acting on any information given here

POLL: REAL ESTATE HEADING IN RIGHT DIRECTION

Frederic Scovell, a Coldwell Banker Residential Broker recently reported the following article: 

In a recent Gallup poll, Americans were asked to rate 24 different business sectors and industries on a five-point scale ranging from "very positive" to "very negative." The poll was first conducted in 2001, and has been used as an indicator of "Americans' overall attitudes toward each industry".

For the first time since 2006, Americans had an overall positive view of real estate, giving the industry a 12% positive ranking.

Americans' view of the real estate industry worsened from 2003 to the -40% plummet of 2008.  Gallup offers some insight into the reason for decline:

Prices Dropped

"In late 2006, real estate prices in the U.S. began falling rapidly, and continued to drop. Many homeowners saw their home values plummet, likely contributing to real estate's image taking a hard hit."

Housing Bubble

"The large drops in the positive images of banking and real estate in 2008 and 2009 reflect both industries' close ties to the recession, which was precipitated in large part because of the mortgage-related housing bubble."

Bottom Line

"Although the image of real estate remains below the average of 24 industries Gallup has tracked, the sharp recovery from previous extreme low points suggests it is heading in the right direction."

Original Source: Keeping Current Matters

Frederic Scovell is an experienced local real estate agent at the Coldwell Banker Gold Coast office in Chicago, IL. He can be reached at (312) 914-1045.

If you are thinking of buying a home or purchasing an income property, Bradford Miller Law, P.C. can help you every step of the way. From buying, selling, renting and even helping you with a building code violation we are here to help with all your real estate needs at a very reasonable rate. To schedule a free 15-minute initial consultation with an experienced Chicago real estate lawyer, contact our office online at bradfordmillerlaw.com or call us at 1-312-238-9298. Meetings can be set up for weekdays, between 8:30 a.m. and 5 p.m. We charge reasonable fees for all services.

At bradfordmillerlaw.com you will find additional information regarding real estate transactions as a seller along with information about our firm.

Posted by Bradford Miller Law, P.C.
Practicing in Real Estate Law, Landlord Tenant Law, and Estate Planning
134 N. LaSalle, Suite 1040
Chicago, IL 60602

Offering free legal representation to homeowners seeking a short sale

Key words: Chicago short sale attorney, Chicago landlord tenant law attorney, Chicago estate planning attorney, Estate Planning Lawyer, Chicago leases, Chicago real estate attorney, Chicago real estate lawyer, Chicago real estate closings, Chicago building code violations, Short sale attorney Chicago. This is intended to be advertising.  Please consult with an attorney before acting on any information given here.

Surveys, Encroachments and Easements

A survey is a precise measurement of a property by a licensed surveyor, showing legal boundaries of a property and the dimensions and location of improvements. A survey will show the boundaries of your property, and whether there are any encroachments. 

An encroachment is the intrusion onto property without right or permission. Such as a fence that is on the other side of your property (or inside, for that matter).

A survey should also indicate whether there are any easements of which you should be aware. An easement is the right to the use of, or access to, land owned by another. Typically, utilities and cable companies may have an easement so that they can repair pipes, wires, etc. on your property.

At a time when you’re already spending a lot of money, a survey can seem like a big expense. However, it’s far better to be aware of any issues before you buy a house so that you can make an informed decision about how much you’re willing to pay for it and, if necessary, budget or negotiate with the seller for any repair work that is needed. Most lenders require a survey but, if they do not it is still a very good idea to obtain one.

If you are thinking of buying a home or purchasing an income property, Bradford Miller Law, P.C. can help you every step of the way. From buying, selling, renting and even helping you with a building code violation we are here to help with all your real estate needs at a very reasonable rate.

Our experienced Real Estate Attorneys have been representing real estate clients for several years now and have earned membership in the Better Business Bureau. Our website has information about our firm and helpful real estate information. To discuss your pending or potential real estate transaction call us at (312) 238-9298 for a Free 15-minute consultation.

Posted by Bradford Miller Law, P.C.
Practicing in Real Estate Law, Landlord Tenant Law, and Estate Planning
134 N. LaSalle, Suite 1040
Chicago, IL 60602
http://www.bradfordmillerlaw.com

Offering free legal representation to homeowners seeking a short sale

Key words: Chicago short sale attorney, Chicago landlord tenant law attorney, Chicago estate planning attorney, Estate Planning Lawyer, Chicago leases, Chicago real estate attorney, Chicago real estate lawyer, Chicago real estate closings, Chicago building code violations, Short sale attorney Chicago. This is intended to be advertising. Please consult with an attorney before acting on any information given here.

Sellers when should you get an attorney involved?

I recommend you contact an attorney right away — before you receive an offer. This way the attorney can begin representing you immediately, which will allow them time to review any contract BEFORE you sign it. Sometimes people wait until they accept a buyer's offer. If you do this, please note that you need to contact an attorney immediately after accepting a buyer's offer because there are important deadlines that begin to run after you accept the buyer's offer.

At www.bradfordmillerlaw you will find information about our firm along with helpful real estate information. To discuss your pending or potential real estate transaction call us at 312-238-9298 for a Free 15-minute consultation.

Bradford Miller Law, P.C. can assist you with all your real estate needs. From buying, selling, renting and even helping you with a building code violation we are here to help with all your real estate needs at a very reasonable rate. Our experienced Real Estate Attorneys have been representing real estate clients for several years now and have earned membership in the Better Business Bureau.

Posted by Bradford Miller Law, P.C.
Practicing in Real Estate Law, Landlord Tenant Law, and Estate Planning
134 N. LaSalle, Suite 1040
Chicago, IL 60602

Offering free legal representation to homeowners seeking a short sale

Key words: Chicago short sale attorney, Chicago landlord tenant law attorney, Chicago estate planning attorney, Estate Planning Lawyer, Chicago leases, Chicago real estate attorney, Chicago real estate lawyer, Chicago real estate closings, Chicago building code violations, Short sale attorney Chicago. This is intended to be advertising.  Please consult with an attorney before acting on any information given here

What kind of "closing costs" can a seller expect?

Most real estate attorneys consider Realtor commissions, taxes, title related fees, etc. all to be "closing costs." Others may only call title-related fees "closing costs."

For sellers, the largest closing cost tends to be the Realtor commission. This commission is typically between 4 percent and 6 percent of the sale price. The next largest cost is real estate property taxes. In Cook County, we pay property taxes in arrears — which means that this year, we are paying the last year's property taxes. So when you sell your home, you must give a property tax credit to the buyer for the taxes not yet due while you were still living in the home. This property tax credit can be negotiated and a formula is used to calculate the actual amount. The remaining costs include title-related fees, city, county and state taxes.

Overall, in a typical transaction, sellers can expect to pay around 8 percent of the sale price in total closing costs. This includes a 5 percent Realtor commission, taxes and title-related fees. For example, on a $200,000 home, the seller can expect to pay around $16,000 in total closing costs. Again, each transaction is different, and if no Realtors are involved, the closing costs will be much lower because there will be no commissions to pay.

Another way to look at it would be to add 3 percent to the Realtor commission. The Realtor commission will be stated on the listing agreement that you signed when you put your home up for sale.

Whether you live in Chicago, Naperville, Schaumburg, Orland Park or another suburb, Bradford Miller Law, P.C., can help you with your real estate transaction. To schedule a free 15-minute initial consultation with an experienced Chicago real estate lawyer, contact our office online at bradfordmillerlaw.com  or call us  at 1-312-238-9298. Meetings can be set up for weekdays, between 8:30 a.m. and 5 p.m. We charge reasonable fees for all services.

At bradfordmillerlaw.com you will find additional information regarding real estate transactions as a seller along with information about our firm.

Posted by Bradford Miller Law, P.C.
Practicing in Real Estate Law, Landlord Tenant Law, and Estate Planning
134 N. LaSalle, Suite 1040
Chicago, IL 60602

Offering free legal representation to homeowners seeking a short sale

Key words: Chicago short sale attorney, Chicago landlord tenant law attorney, Chicago estate planning attorney, Estate Planning Lawyer, Chicago leases, Chicago real estate attorney, Chicago real estate lawyer, Chicago real estate closings, Chicago building code violations, Short sale attorney Chicago. This is intended to be advertising.  Please consult with an attorney before acting on any information given here.