A real estate contract is a legally binding written agreement between the seller and the buyer that covers every possible contingency that could occur throughout the transaction. In most states, including Illinois, real estate contracts are a mandatory part of the process and they can be quite complex. Absent an experienced real estate broker, property buyers, and sellers can easily miss vital components and contingencies when drafting a contract that can cause very real problems and cost a lot of money; That’s why a Chicago Real Estate Law Firm by your side can make you feel comfortable during this process.
A basic Real Estate contracts typically cover the key points associated with the sale and purchase of a property. Key points like:
Real estate contract contingencies can vary depending on which state, county, or geographical region the property is located. However, there are plenty of contractual contingencies that are common across the country, for example, :
These are just a few of the common contingencies the average real estate contract will have. Just keep in mind, the number of contingencies will grow depending upon the specific details of the property. The volume and the complexity of these contingencies are just some of the reasons why it is not just a good idea to have a seasoned real estate attorney draw up your contracts, it is a necessity.
The most valuable asset a contract law attorney brings to the table is a wealth of knowledge and experience in the complicated world of the real estate marketplace. With Shawn Bolger Ltd., you aren’t just hiring a lawyer, you’re hiring a real estate expert’s law firm with literally everything you’ll need to provide as stress and problem-free a process as humanly possible. No matter what questions you may have, Shawn Bolger Ltd. has the answers you need.
So, make your first step into the real estate world a visit with Shawn Bolger Ltd. and schedule your free consultation with one of our expertly trained associates. Let us put our knowledge and expertise to work for you to help you get the most out of your next real estate transaction. Contact our office at 855-316-8045 to schedule your complimentary consultation today.