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Downers Grove Real Estate Attorneys | Real Estate Lawyers, Downers Grove IL

Downers Grove Real Estate Attorneys | Real Estate Lawyers, Downers Grove IL

Our experienced Downers Grove real estate attorneys offer comprehensive legal services in the area of real estate. We look forward to working with you to shepherd your residential or commercial real estate purchase or sale to closing; draft, negotiate, or review your commercial lease; appeal your property taxes; defend your foreclosure; or accomplish any of your other real estate needs.

Our experienced Downers Grove real estate attorneys offer comprehensive legal services in the area of real estate. We look forward to working with you to shepherd your residential or commercial real estate purchase or sale to closing; draft, negotiate, or review your commercial lease; appeal your property taxes; defend your foreclosure; or accomplish any of your other real estate needs.

Your Community Law Firm

Why O'Flaherty Law for My

Real Estate

Matter?

Downers Grove real estate attorney Kevin O'Flaherty describes qualities to look for when hiring a real estate lawyer.

  • We Get the Job Done!  Your real estate team includes your realtor, your loan officer, and your attorney.  Our job as Downers Grove real estate attorneys is to make sure that your deal closes on time and smoothly.  We will do whatever it takes to assist you in overcoming any obstacles that occur between offer and closing.  Our reputation is based on us consistently going above-and-beyond to get the job done for our clients. 
  • Take Advantage of Our Network!  Our network of professionals and resources is one of the things that distinguishes O'Flaherty Law from other attorneys.  Need an inspector? We've got a guy!  Need a painter?  We've got a guy!  Our relationship with our clients goes far beyond legal work.  We are the one-stop resource for anything our clients need.  
  • Establish a Lifelong Relationship!  Often the purchase of your home is the first time in your life that you need an attorney, but it will probably not be the last.  Did you know that once you purchase your home, you should have a trust instead of a will to protect your assets?  We can help you with that!  Want to start your own business?  We've got you covered!  In fact, we have multiple attorneys with experience in every area of law, so we can help you with almost everything.  Unlike sole-practitioners who only do real estate law, we can be your lifetime trusted adviser for all of your legal needs.  

Some of Our Accomplishments

Schedule a Free Consultation With Our

Downers Grove Real Estate Attorneys

downers grove residential real estate attorney

Please contact our friendly

Downers Grove Real Estate Attorneys

at our nearest location to schedule a free consultation:

O'Flaherty Law of Downers Grove

5002 Main St, Ste. 201
Downers Grove
,
IL
60515
Get Directions

See below for our other locations. If our office locations are not convenient for you, we are happy to speak with you by phone.  ​​​

Hours: 9 am - 5 pm Mon - Fri

Our  Office Locations: 

Downers Grove Attorneys, Downers Grove Attorney, Downers Grove Lawyer, Downers Grove Lawyers

Downers Grove

5002 Main St, Ste. 201 Downers Grove, IL 60515

Naperville Attorney, Naperville Attorneys, Naperville Lawyers, Naperville Lawyer

Naperville

105 Jackson Avenue, Ste. 4b Naperville, IL 60540

Elmhurst Lawyer, Elmhurst Lawyers, Elmhurst Attorneys, Elmhurst Attorney

Elmhurst

​110 E. Schiller Street, Ste. 220B ​Elmhurst, IL 60126

Lake in the Hills Attorneys, Lake in the Hills Attorney, Lake in the Hills Lawyer, Lake in the Hills Lawyers

Lake in the Hills

8411 Pyott Road, Ste. 107, ​Lake in the Hills, IL 60156

Tinley Park Attorney, Tinley Park Attorneys, Tinley Park Lawyer, Tinley Park Lawyers

Tinley Park

​16557 Oak Park Avenue, Ste. B, Tinley Park, IL 60477

St. Charles Attorneys, St. Charles Lawyers, St. Charles Attorney, St. Lawyer

St. Charles

210 S Fifth St, Ste. 107B, St. Charles, IL 60174

downers grove residential real estate lawyer

Meet Our Owner

Kevin O'Flaherty oversees all legal matters and is actively involved in making sure every client's case, big or small, is handled with excellence and attention to detail. He is available to contact through phone and email and his rates are available upon request.

Here's What Our Clients Have to Say:

John Paul Clancy
Says...

"Kevin and his firm, O'Flaherty Law, are friendly, efficient, knowledgeable and professional. Kevin is a master at bringing people together and sharing ideas."

Kevin Sender
Says...

"Kevin O'Flaherty and his team at O'Flaherty Law are among the friendliest and easiest to work with attorneys I've dealt with. I would suggest them to any friends or business associates."

Kevin O'Flaherty was instrumental during the purchase process of my new house. I highly recommend him and the entire firm!

An excellent client experience, I recommend O'Flaherty Law to all of my clients that have a need for consultation in family law.

DuPage Family Law AttorneyDowners Grove Estate Planning Attorney
John Paul Clancy
Says...
"Kevin and his firm, O'Flaherty Law, are friendly, efficient, knowledgeable and professional. Kevin is a master at bringing people together and sharing ideas."
DuPage Family Law AttorneyDowners Grove Estate Planning Attorney
Kevin Sender
Says...
"Kevin O'Flaherty and his team at O'Flaherty Law are among the friendliest and easiest to work with attorneys I've dealt with. I would suggest them to any friends or business associates."
DuPage Family Law AttorneyDowners Grove Estate Planning Attorney
Mike Stehlik
Says...
"Kevin and his team are my "Go To" resource for clients that need estate planning"
Kevin Koc
Says...
Kevin O'Flaherty was instrumental during the purchase process of my new house. I highly recommend him and the entire firm!
Stephen Petersen
Says...
An excellent client experience, I recommend O'Flaherty Law to all of my clients that have a need for consultation in family law.
Troy Golden
Says...
Kevin is an excellent attorney. He helped me incorporate by business and provides legal counsel as need. I highly recommend him.

Click here for Videos, Podcasts, and Articles by our Downers Grove Real Estate Lawyers

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Or Continue Scrolling Below to Browse some of our Most Helpful Articles

Illinois Trust Administration: Selling Real Estate

In this episode of Learn About Law, we explain the responsibilities of a trustee when selling real estate after a loved one passes away. Have any questions that weren't answered here? Let us know in the comment section! Subscribe: https://www.youtube.com/channel/UCY4Q...

If you are a trustee responsible for the administration of a trust after the passing of a loved one, you have a fiduciary duty to act in the best interest of the beneficiaries of the trust, within the limitations and instructions laid out by the trust document.  

If a trust is in place and estate planning has been done properly prior to the death of the grantor of the trust, it should not be necessary to open a probate estate.  However, if the beneficiaries disagree with the actions of the trustee, the beneficiaries may open a probate case and seek to make the trustee personally liable for mismanaged assets of the estate.  

Trustee responsibility is fairly cut and dry when dealing with liquid assets like a checking account.  However, the trustee's responsibility becomes more complicated when dealing with non-liquid assets like real estate.  

When real estate is present in an estate, the trustee must first decide whether to transfer the real estate to one of the beneficiaries.  This will usually result in a reduction of the share that the beneficiary is due from the remainder of the estate's assets or a payment from the beneficiary to the estate for the value of the home.  An alternative to an insider transfer is to sell the real estate on the open market and distribute the proceeds among the beneficiaries.  

Regardless of what is to become of the real estate, I recommend that the trustee seek written approval from all of the beneficiaries of the trust prior to the transaction.   In the absence of this written approval, one or more of the beneficiaries may later claim that the real estate was sold to a third party or transferred to one of the beneficiaries for less than market value.   The beneficiary could then open a probate case and seek to hold the trustee personally liable for breach of fiduciary duty.  

For example, if the market value of a home is $400,000.00 and the Trustee sells it for $300,000.00, whether to a third party or to an insider, the trustee may be personally liable for the $100,000.00 difference between market value and sale price.  However, if the trustee has received written agreement from the beneficiaries prior to the sale, the trustee will be able to rest easy knowing that she is protected from any future liability. 

Read More
attorney for selling a home downers grove illinois

If you are a trustee responsible for the administration of a trust after the passing of a loved one, you have a fiduciary duty to act in the best interest of the beneficiaries of the trust, within the limitations and instructions laid out by the trust document.  

If a trust is in place and estate planning has been done properly prior to the death of the grantor of the trust, it should not be necessary to open a probate estate.  However, if the beneficiaries disagree with the actions of the trustee, the beneficiaries may open a probate case and seek to make the trustee personally liable for mismanaged assets of the estate.  

Trustee responsibility is fairly cut and dry when dealing with liquid assets like a checking account.  However, the trustee's responsibility becomes more complicated when dealing with non-liquid assets like real estate.  

When real estate is present in an estate, the trustee must first decide whether to transfer the real estate to one of the beneficiaries.  This will usually result in a reduction of the share that the beneficiary is due from the remainder of the estate's assets or a payment from the beneficiary to the estate for the value of the home.  An alternative to an insider transfer is to sell the real estate on the open market and distribute the proceeds among the beneficiaries.  

Regardless of what is to become of the real estate, I recommend that the trustee seek written approval from all of the beneficiaries of the trust prior to the transaction.   In the absence of this written approval, one or more of the beneficiaries may later claim that the real estate was sold to a third party or transferred to one of the beneficiaries for less than market value.   The beneficiary could then open a probate case and seek to hold the trustee personally liable for breach of fiduciary duty.  

For example, if the market value of a home is $400,000.00 and the Trustee sells it for $300,000.00, whether to a third party or to an insider, the trustee may be personally liable for the $100,000.00 difference between market value and sale price.  However, if the trustee has received written agreement from the beneficiaries prior to the sale, the trustee will be able to rest easy knowing that she is protected from any future liability. 

Read More

Attorney Modification of Residential Real Estate Contracts

downers grove real estate lawyer

Downers Grove real estate attorney Kevin O'Flaherty discusses the process of having your real estate lawyer review and modify your real estate contract.

downers grove real estate lawyer

In this article, our Downers Grove residential real estate attorneys explain the process of having your real estate attorney review and negotiate a residential real estate contract. Realtors typically have both parties sign a form contract that is intended to be modified by attorneys after it is executed. Your real estate lawyer will have 5 business days from the date that the contract is signed to approve the contract, reject the contract or negotiate modifications to the contract.

Our Downers Grove residential real estate lawyers will walk you through the contract to make sure that you understand it, and advise you as to terms that you may want to consider negotiating.

Read the full article by our Downers Grove real estate attorneys explaining the attorney modification process for residential real estate contracts.

How Will O'Flaherty Law Protect My Largest Investment?

Our Downers Grove real estate attorneys explain some of the key clauses that you should be aware of in residential real estate contracts, including ensuring that the purchase price is correct, that you understand how earnest money works, that the correct fixtures and personal property are included in the transaction, and that the mortage contingency clause, tax proration clause, and optional provisions are fair.

Read the full article from our Downers Grove real estate attorneys explaining the key clauses in a residential real estate contract.

Downers Grove real estate lawyer Kevin O'Flaherty discusses some of the most important clauses found in residential real estate contracts.

real estate attorney downers grove illinois

Our Downers Grove real estate attorneys explain some of the key clauses that you should be aware of in residential real estate contracts, including ensuring that the purchase price is correct, that you understand how earnest money works, that the correct fixtures and personal property are included in the transaction, and that the mortage contingency clause, tax proration clause, and optional provisions are fair.

Read the full article from our Downers Grove real estate attorneys explaining the key clauses in a residential real estate contract.

How to Negotiate a Commerical Lease

downers grove real estate lawyer
real estate lawyer downers grove il

Our Downers Grove real estate attorneys explain some important negotiating points for commercial leases, including the attorney fee clause, the notice that is required for termination, the tenant's permitted use of the property, the landlord's approval of any alterations, which party is responsible for repairs to both the interior and exterior of the premises, and indemnification by the tenant and landlord for one another's wrongful actions.

Read the full article by our Downers Grove real estate lawyers explaining how to negotiate a commercial lease.

Further Reading from our

Downers Grove Real Estate Attorneys