We all expect a measure of privacy in our homes. But, in the information age, privacy is no longer a given. In fact, there is a lot of easily acquired information online, particularly after a real estate purchase.

Fannie Mae and Freddie Mac have both made significant changes to their guidelines for approving loans in condominiums and co-ops. This is a real game changer for buyers and sellers alike. Lenders must follow these guidelines in order for loans to be guaranteed in secondary (investor) markets. Loan-originating companies only want to grant mortgages if they can be resold on those secondary markets. Many approvals will be harder to come by. 

Sure, this may not be the most pleasant subject. But it's important...and we can help.

If your home—a house, condo, or townhouse—is in Illinois, you might consider using our new TODI Inheritance Service to leave it to a beneficiary. A TODI is a Transfer on Death Instrument, essentially a "will-equivalent" for real estate that's less complex than creating a will or trust.

When it comes to buying and selling property, Illinois is considered an "attorney state." Lawyers participate in the real estate sale process as a matter of custom and practice. But there are no laws or ordinances that require a buyer or seller to use one. That said, there are certain things that only a lawyer can do for you. There are also elements of the transaction that only a lawyer should do for you.

The real estate industry is always shifting and evolving. Recently, lawsuits against the National Association of Realtors and national brokerages have resulted in new commission structures for many real estate brokers....and many questions from clients.

Buyers who use lenders are often surprised when the lender stops the sale from moving forward. Thankfully, our real estate law firm excels at deciphering and working through lender issues. Here's a story about a buyer, an insistent lender, and how we can help close deals like this.

Selling a home as-is should be fairly straightforward. The seller doesn't want to make any repairs or changes and the buyer understands this when they make their offer. However, the reality can be very different.

So you're buying a house with someone who is not your spouse. From co-housing, communes, and intergenerational housing to friends just buying a place to share, we are seeing more and more deals involving co-ownership: multiple buyers that are not married or in a comparable relationship. 

While it can be a great idea, it's important to start with a clear understanding of individual goals and a formal legal agreement. 

A quitclaim deed is a quick way to transfer the property title. And in Illinois, a lawyer is not required to complete one, you can do it yourself. That said, hiring an experienced lawyer to execute a quitclaim can prevent expensive mistakes, like this.

We're on the move! On August 28, 2023, our law firm moves to the corner of State and Madison, the center of all Chicago addresses.

As of New Year's Day, all smoke detectors in residential dwelling units must be...

One of the easiest ways to protect your interests as you buy a home is to hire an experienced, well-qualified lawyer. Your first instinct may be to search for the lowest price. But before you do that...