If you intend to buy or sell real estate in the Chicago area, hiring a real estate agent is not enough. You also need the advice and services of an experienced Chicago real estate lawyer. Here are three reasons why:
1. Conflicts of interest: Unlike real estate agents and brokers, real estate lawyers don’t work for a commission, so there’s no potential conflict of interest. A real estate attorney is the one person who can be entirely objective while looking out for your best interests.
2. Authority: Real estate agents can’t draft the important legal documents – like riders and deeds – that will protect you. An agent or broker can’t give you any legal advice; only a lawyer can do that. The same person can be a licensed lawyer and a licensed real estate agent in Illinois, but that person cannot act in both roles in the same transaction.
3. Experience: Real estate agents and brokers are thoroughly trained in the work they do and the services they provide, and most of them are very good at it. However, they have not been trained in the law and they have little experience dealing with legal disputes. A Chicago real estate lawyer can advise you regarding the legal promises you must fulfill and help you avoid a lawsuit or any other legal action.
If you’re buying or selling a property in Illinois, you absolutely need a good real estate agent. But you also need the advice and services of an experienced Chicago real estate lawyer who will “have your back” look out for your interests. Real estate is a wise investment. A good real estate lawyer is a second wise investment. If you’re considering or already involved in a real estate sale or purchase anywhere in or near the Chicago area, help is here, so don’t wait to make the call.