Wheaton Real Estate Lawyers

Attorneys Helping Clients Buy and Sell Homes in Wheaton, Illinois

For most families, buying a home is one of the largest purchases they will ever make. Residential real estate transactions will involve contracts, deadlines, inspections, loan approvals, and title documents that all have to line up before the keys can change hands. A missed deadline or a vague contract term can cost a person thousands of dollars, or problems may arise that could cause the deal to fall apart. During a transaction, a person can make sure they are protected by securing representation from a real estate attorney.

At Mirabella, Kincaid, Frederick & Mirabella, LLC, we provide legal help for buyers and sellers in residential real estate transactions in Wheaton, DuPage County, and other parts of Northern Illinois. Our lawyers can spot problems early in the process and take the right steps to resolve them before they become costly. We will explain each step of the process to our clients, answer their questions promptly, and stay focused on the goal of completing a home closing as smoothly as possible.

How Our Lawyers Help Home Buyers

Negotiating the Purchase Contract

Our lawyers can review real estate contracts and make sure they include the terms that will protect buyers. We can provide guidance on whether adjustments may need to be made to the closing date, the earnest money amount, the mortgage contingency deadline, or other terms. We can provide guidance on what fixtures or personal property may be included in the contract. We will work with clients to make sure a contract will give them enough time to secure financing or provide flexibility if they need to sell their current home during a transaction.

Resolving Home Inspection Issues

A home inspection may reveal problems that were not visible during a showing, such as a leaking roof, outdated electrical panels, cracks in the foundation, or high radon levels. Our attorneys can determine which issues may need to be addressed before closing, and we can negotiate with the seller to determine whether repairs may be made, the price may be adjusted, or credits may be provided at closing. If the seller refuses to address serious defects, we can advise a client on whether a contract will allow them to walk away and recover their earnest money.

Reviewing Title and Closing Documents

Before closing, our team will examine the title commitment to confirm that the seller can transfer ownership of the property. We will look for unpaid liens, easements, and other issues that could affect a buyer's ability to use the property as planned. We will review the closing statement, coordinate with the lender, and attend the closing, explaining each document a person signs.

How Our Attorneys Help Home Sellers

Addressing Contingencies

The contingencies that buyers request in a real estate contract can leave a seller uncertain about how the transaction may proceed. A buyer may need to sell another home first, or they may need to obtain mortgage approval by a certain date. Our lawyers can help sellers understand what each contingency means, track the deadlines that may apply, and determine whether they may be able to continue marketing the home and accept a better offer.

Responding to Buyer Requests

After a home inspection, a buyer will often send a list of requested changes and repairs. Our attorneys can help sellers decide which requests are reasonable, and we can prepare counterproposals that will keep the sale on track. We will work to negotiate agreements that will protect a seller's interests.

Performing Title Searches

Our lawyers can review records to uncover any issues that may affect a real estate transaction. A title search may find old mortgages that were never formally released, judgment liens, or boundary discrepancies. We will work to ensure that these issues are corrected well before the closing date.

Completing Required Disclosures

Sellers are required to disclose certain information to buyers. Disclosure reports must address known material defects on a property. Radon disclosures are typically required, and lead-based paint disclosures may also be needed for older homes. Our team can help sellers complete these forms and provide all required information, helping to avoid the possibility of a lawsuit after the sale.

Making Sure a Real Estate Transaction Closes Correctly

A successful closing will require careful coordination between multiple parties. Our attorneys can prepare deeds, obtain mortgage payoff letters, calculate property tax prorations, and complete all required declarations. We can determine whether a seller may provide a buyer with a credit at closing for taxes owed. After closing, we will confirm that a deed is properly recorded with DuPage County and complete all other requirements to ensure that ownership of a property will be transferred from the seller to the buyer.

Contact Our Wheaton, IL Residential Real Estate Attorneys

When buying or selling a home, a person will need to address all legal concerns that they may encounter, and legal help from an attorney can help them reduce their stress. At Mirabella, Kincaid, Frederick & Mirabella, LLC, we can review purchase contracts, negotiate favorable agreements for our clients, and make sure all details of a transaction are handled correctly. Contact our Wheaton, Illinois residential real estate lawyers at 630-665-7300 to set up a consultation today.