Bradford Miller Law, P.C. Chicago Real Estate Attorney, Chicago Short Sale Attorney: January 2014

Thursday, January 30, 2014

What is a short sale

A short sale is a real estate transaction in which the lender agrees to the sale of a house for less than the balance owed on the loan. Banks are usually much more interested in facilitating short sales which avoid costly foreclosures. Typically, Bradford Miller Law will negotiate with the lender so that the sellers are not responsible for the difference between what they owe and what the property sold for. Additionally, sellers avoid foreclosure and protect their credit from the harder hit of foreclosure.

Bradford Miller Law has been representing both buyers and sellers of short sale properties for several years. We offer free legal representation to homeowners seeking a short sale. Call us to help you with your short sale transaction.

Posted by Bradford Miller Law, P.C.

134 N. LaSalle Street, Suite 1040

Chicago, IL 60602

312-238-9298

http://www.bradfordmillerlaw.com

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

Monday, January 20, 2014

Home Inspections

Sellers are required by law to disclose major problems with a home that may affect its value. This however is not a substitute for a home inspection. It is almost impossible for an amateur to perform an inspection with the same expertise and professionalism of a licensed inspector. Licensed and certified inspectors must be knowledgeable about new materials, technologies and, products in use today as well as those used in earlier years.

An inspection is a way to evaluate the property before you make a purchase. You will want to know about any serious problems and what it will take to fix them before your cancellation clause expires. If, major repairs are needed, you can get competitive bids from contractors to negotiate with the owners to either make the repairs prior to the closing or possibly reduce the sale price.

Your real estate agent or lender can be a great resource for finding competent inspectors who are familiar with local housing conditions, contractors, and building codes.

Bradford Miller Law has been helping both buyers and sellers with their real estate transactions and negotiations for several years. Call us to handle your real estate needs.

Posted by Bradford Miller Law, P.C.

134 N. LaSalle Street, Suite 1040

Chicago, IL 60602

312-238-9298

http://www.bradfordmillerlaw.com

Offering free legal representation to homeowners seeking a short sale

Monday, January 13, 2014

Financial Reasons for buying a Home

As reported in a newly released paper on homeownership, The Dream Lives On: the Future of Homeownership in America, Eric Belsky, Managing Director of the Joint Center of Housing Studies at Harvard University reveals several financial reasons you should consider buying a home.

· Housing is considered a leveraged investment. Homeownership allows householders to increase any appreciation on the value of their homes by a leverage factor which can increase the return on their equity.

· Whether you own or rent, you are paying for housing. Renters help landlords pay down the principal of another person’s loan while homeowners pay down their own loan.

· There are substantial tax benefits to owning a home. Homeowners can deduct mortgage interest and property taxes from their income.

· Owning is usually considered a form of forced savings. Owning a home can overcome the tendency to defer savings to another day.

· Owning hinders inflation. Over most time periods, housing costs and rents have gone up at a higher rate of inflation which makes owning an attractive plan.

Posted by Bradford Miller Law, P.C.

134 N. LaSalle Street, Suite 1040

Chicago, IL 60602

312-238-9298

http://www.bradfordmillerlaw.com

Offering free legal representation to homeowners seeking a short sale

Key words: Chicago short sale attorney, Chicago residential real estate attorney, Chicago landlord tenant law attorney, Chicago eviction attorney, Chicago estate planning attorney, Chicago real estate attorney, Chicago real estate lawyer, Chicago building code violations, Chicago Real Estate Attorney fees. This is intended to be advertising. Please consult with an attorney before acting on any information given here.

Tuesday, January 7, 2014

Home sales are dipping

According to chicagorealestatedaily.com, Chicago-area home sales dropped last month for the first time in almost 2½ years. According to the Illinois Association of Realtors this is reflecting the low supply of homes on the market. They found that in the nine-county local area, 7,640 homes sold last month, down 1.3 percent from 7,744 sales in November 2012.

This decline snaps a streak of 28 consecutive months that local home sales rose year over year.

Posted by Bradford Miller Law, P.C.

134 N. LaSalle, Suite 1040

Chicago, IL 60602

312-238-9298

http://www.bradfordmillerlaw.com

Key words: Chicago short sale attorney, residential real estate attorney Chicago, Chicago eviction attorney, Chicago estate planning attorney, Chicago real estate attorney, Chicago real estate lawyer, Chicago building code violations, Chicago Real Estate Attorney fees. This is intended to be advertising. Please consult with an attorney before acting on any information given here.

FREE SHORT SALE HELP

Are you "under-water" in your home? Do you owe more then the property is worth? You should consider doing a short sale. Chicago short sale attorney Bradford Miller offers free legal representation to homeowners doing a short sale. The first step is to call Attorney Bradford Miller for a free 15 minute phone consultation. If we accept you as a client, our representation will be free to you and its possible you will even receive some money to help you relocate. Homeowners should know what their options are and what to expect. Call Mr. Miller today at 312-238-9298.

CHICAGO REAL ESTATE LAW BLOG

Bradford Miller Law, P.C. focuses on real estate law, landlord tenant law and estate planning. This is the chicago real estate law blog. If you are interested in reading about landlord tenant law, visit that blog at http://chicagoltlaw.blogspot.com/. If you are interested in estate planning, visit http://chicagoestateplanning.blogspot.com/. The law firm's main website is www.bradfordmillerlaw.com.

This blog will focus on real estate law in the Chicagoland area. Topics include real estate transactions ("closings"), closing costs, and real estate taxes, among other things.

Helping people in this distressed real estate market

Whether you live in Chicago, Berwyn, Orland Park, Naperville, or another suburb, Bradford Miller Law, P.C. can provide the legal representation you need. Short sales are becoming more and more prevalent, currently making up approximately 35% of the market. Sellers need to understand what a short sale is and what the consequences may be. Mr. Miller offers a free 15-minute phone consultation to any homeowner contemplating a short sale.

Bradford Miller Law, P.C. also offers representation to traditional sellers. Sellers can find a variety of information at http://www.bradfordmillerlaw.com/ under the "Sellers" section. Mr. Miller offers a free 15-minute phone consultation to any homeowner looking to sell their property.

Buyers, and especially investors, are taking advantage of the real estate market. Bradford Miller Law, P.C. offers comprehensive legal representation when making a purchase. Call for a free 15-minute phone consultation.