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Buying & Selling Property (Real Estate Closings)
Commercial and Residential Real Estate Closing Lawyers
Generally, buying or selling real estate is a process that should make you happy. It is a real estate transaction that should positively impact your life. Your excitement should not come without awareness of the issues that might develop after your real estate closing, however.
A real estate closing might be one of your larger financial transactions and it is thus important for you to understand the potential complex legal issues that might develop. You need to be certain that your financial interests and your legal rights are protected.
At Wolff Legal, our competent Chicago real estate closings attorneys can ensure that your interests are protected every step of the way when you buy or sell real estate. We recognize the importance of real estate transactions and how they can affect you. We can help you avoid common mistakes, ensure all contracts and paperwork are clear and legally binding, and in all facilitate a smooth and beneficial real estate transaction.
What Are Closing Costs in Illinois?
Every real estate transaction is different, and factors such as the involvement of realtors can affect your final closing costs. However, sellers on average pay around 8% of the sale price in their total closing costs. This amount includes state and federal taxes, title fees, and the realtor's commission.
How Our Attorneys Can Help With Real Estate Closings in Chicago
At Wolff Legal, our Chicago attorneys can provide legal assistance with:
- Avoid vague or unclear terms in brokerage agreements that could have negative financial or legal consequences.
- Provide a consultation regarding the tax consequences of a purchase or sale, and offer options to mitigate taxes on capital gains.
- Ensure the purchase agreement is clear, complete, legally binding, and in your best interests.
- Resolve any last-minute disputes regarding fees, costs, personal property, and more.
- Ensure the deed and mortgage instruments are properly signed, executed, and explained.