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.

How to set a competitive asking price for your home

Determining what you should list your house for can be confusing. It is important to hire an experienced, knowledgeable real estate agent who knows the area and can offer advice. Before you list your home, be sure that your Realtor performs a comparative market analysis. This will help you determine a reasonable price for your home based on sales of similar homes in your area. It is very important to set a good fair price the first time around. Studies have have shown that the first week that a listing goes on the market, it receives nearly four times more visits online than it does a month later.

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

Required loan documentation

To insure that your home buying experience goes smoothly, it will be helpful to have the following paperwork ready to present to the lender. You may also need additional documentation but this is a good start.

Income verification-you must prove that you have a regular, reliable source of income. Pay stubs, bank account information, W-2 forms, 1099 forms if you are self employed and if you’re retired proof of Social Security income and an accounting of your retirement assets.

Tax transcripts-most mortgage applications require you to provide two years of tax transcripts, not the 1040 form you filed. A tax transcript is the record that gets created when the IRS processes your return. Visit www.irs.gov to obtain these documents.

Credit history-most lenders will run a credit check and will ask you about your credit card history along with any loans such as car and student loans. Have all this information ready including account numbers.

Proof that you pay your bills-lenders want to see how you handle your bills. Many times they will ask you to prove your payment history. If you’re currently a renter, you might need to supply up to a year’s worth of rent receipts, as well as the contact information for your landlord. They may also ask for utility bills, credit card statements, insurance payments and other recurring bill.

Down payment money-where did it come from? If not from your own savings, sometimes the money comes from a family member. If so, the lender  needs to know if it is a gift or a loan. If it is a loan, it will be counted as a debt. If it is a gift, you will need a letter stating that the money does not need to be paid back.

Owning a home rather than renting is a great way for you to build wealth. 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.

Selling your home in winter or early spring

Redfin, a real estate brokerage recently looked at home sales from 2011 to 2013 and found that homes listed between December 21 and March 21 sold one week faster and for slightly more on average than any other season. This goes against the conventional wisdom that spring is the best time to sell your home. They also found that listing your home on a Thursday or Friday, so you are fresh in people’s minds when they’re making plans with their agent to go see homes on the weekend sell closer to their original list price and have the best chance of selling.

Thinking about selling your home?  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. Selling or purchasing property involves a lot of legal details, and real estate law is always changing. To discuss your pending or potential real estate transaction call us at 312-238-9298 for a Free 15-minute consultation.

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.com 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.