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Winnebago County Residential Real Estate Attorney | Commercial Real Estate Lawyer, Winnebago County IL

Winnebago County Residential Real Estate Attorney | Commercial Real Estate Lawyer, Winnebago County IL

You are in good hands when you entrust O’Flaherty law with your estate purchase. We have friendly, client focused attorneys available to make sure every aspect of your investment goes smoothly from the contract to the closing.

You are in good hands when you entrust O’Flaherty law with your estate purchase. We have friendly, client focused attorneys available to make sure every aspect of your investment goes smoothly from the contract to the closing.

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Your Community Law Firm

Why O'Flaherty Law for My

Real Estate

Matter?

In this video, our Winnebago County Residential & Commercial Real Estate attorney describes why O'Flaherty Law is the best choice for your real estate matter.

We Put in the Work for You!  We will be in constant contact with your realtor, your lender, the other party’s attorney, and most importantly you, to make sure your purchase or sale runs efficiently and on time.

We go Above and Beyond for Our Clients!  O’Flaherty Law is well established in Winnebago County and has built a reputation for providing above-and-beyond service that is reflected by the reviews of our prior clients.  Many of our clients have been so thrilled with our service that they have taken the time to leave us glowing reviews.

  • Due to the overwhelmingly positive response from our satisfied clients, we received the Avvo Client's Choice Award for 2016.
  • We have an A+ Rating with the Better Business Bureau and have never received a BBB complaint.
  • Because of his work in the community, Kevin O'Flaherty was a recipient of Suburban Life Magazine's Best Under 40 Award.

Once we have finished your closing, be sure to think of O’Flaherty Law in the future for services in estate planning, business representation, bankruptcy assistance, or dispute resolution and litigation, we are always willing to help!

Some of Our Accomplishments

Schedule a Free Consultation With Our

Winnebago County Residential & Commercial Real Estate Attorneys

What to Expect From a Consultation

The purpose of a free consultation is to determine whether our firm is a good fit for your legal needs. Although we often discuss expected results and costs, our attorneys do not give legal advice unless and until you choose to retain us. Although most consultations are complimentary, some may carry a charge depending on the type of matter and meeting location.

Please contact our friendly

Winnebago County Residential & Commercial Real Estate Attorneys

at our nearest location to schedule a free consultation:

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

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 Winnebago County Residential & Commercial Real Estate Attorneys

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

The Illinois Contract Review Process

For those of you who have not hired an attorney before, the idea of having an attorney review a contract may seem expensive and intimidating — it shouldn’t be.

‍The purpose of this article is to shed some light on the process of contract review.

Step 1 – Opinion Letter: 

Step 2 – Discussion with the Client:

Step 3 – Communicating Proposed Changes to the Other Party: 

Step 4 – Review of the Revised Contract:

Read More

For those of you who have not hired an attorney before, the idea of having an attorney review a contract may seem expensive and intimidating — it shouldn’t be.

‍The purpose of this article is to shed some light on the process of contract review.

Step 1 – Opinion Letter: 

Step 2 – Discussion with the Client:

Step 3 – Communicating Proposed Changes to the Other Party: 

Step 4 – Review of the Revised Contract:

Read More

Top 5 Contract Clauses To Review With Our Winnebago County Real Estate Attorneys

Winnebago County Real Estate Attorneys, Winnebago County Real Estate Lawyers, Winnebago County Residential Real Estate Attorneys, Winnebago County Commercial Real Estate Lawyers

Winnebago County real estate attorney Kevin O'Flaherty discusses the 5 things you need to look out for in real estate contracts.

Winnebago County Real Estate Attorneys, Winnebago County Real Estate Lawyers, Winnebago County Residential Real Estate Attorneys, Winnebago County Commercial Real Estate Lawyers

This article written by our Winnebago County real estate attorneys, talks mainly about what you typically expect to happen in the 5 day period after signing a residential real estate contract.  During this time one of our attorneys will sit down with you to work through your contract paragraph by paragraph, while making recommendations for any changes.  However there are five clauses that you as the buyer should take particular awareness of.

  1. Purchase Price and Earnest Money: It goes without saying that it is crucial for the price of the purchase to be listed correctly.  However there may be some other closing cost credits to factor into the ultimate purchase price.  As stated before, there are several parties involved in a real estate transaction, which include, your title company, your lender, attorneys, and governmental entities to whom taxes and fees are paid.  The seller’s attorney will present a ledger called a “settlement statement”, at the closing, showing all of the money that is changing hands between all of these parties.
  2. Fixtures and Personal Property Included in Transaction: Often times, a paragraph with a series of check-boxes is contained within the real estate contract.  These boxes are checked for fixtures and other properties, such as appliances, that will be included in the purchase price.
  3. Mortgage Contingency: It is essential that you understand the portion of the contract relating to the mortgage contingency in any contract that is contingent on the purchaser obtaining a mortgage.  The mortgage contingency paragraph will lay out the terms of mortgage that the purchaser must be able to obtain in order to be bound by the contract
  4. Tax Prorations: Even though it is most likely that you have only owned the property for a portion of the year, you as the new owner, will be responsible for the property tax bill for the entire year in which the transaction occurred. 
  5.  Initials: The typical real estate contract used by realtors contains several clauses that will only be effective if initialed by both sides, which are used for special circumstances.

Read the entire article by our Winnebago County real estate attorneys

Our Winnebago Real Estate Attorneys Will Prepare For A Smooth And Timely Closing

In any case, it is just as important for the seller to be protected from the contract to the closing.  In this article our Winnebago attorneys discuss their list of important items when they represent a potential seller.

  • Disclosures: Our Winnebago real estate attorneys will prepare and provide the buyer with disclosures from the seller regarding radon hazards, lead-based paint, hazardous mold, and other structural defects, which must be noted in the Illinois Residential Real Property Disclosure Report.  
  • Title Commitment: We will work as a medium between both parties and the title insurance company to review the title record for the property to make sure the seller’s ability to transfer the title to the buyer is not impaired in any way.  We will arrange for the insurance of a title insurance policy, which will protect against any issues not found in the title record at that time.
  • Survey: Our Winnebago real estate attorneys will order a survey and provide it to the buyer, so that the buyer can review the metes and bounds of the property being purchased as well as any easements on the property. 
  • Pay-off Letter: A pay-off letter will be obtained from your lender to show exactly how much is left to be paid on the mortgage by the title company.  This has to be done to ensure the existing mortgage is removed from the property.  
  • Letters from Homeowners or Condominium Associations (If Applicable):  Our Winnebago County real estate attorneys will work with your homeowners association or condominium association to provide the buyer with letters showing that there are no unpaid assessments,  that any right of first refusal to purchase the property held by the association is waived, and that the association's common areas are properly insured.  
  • Municipal Letters: If your village or township requires a municipal inspection prior to the sale of your property, our Winnebago real estate lawyers will arrange for the inspection and obtain a letter from the municipality stating that the inspection has been completed and that all utility bills have been previously paid by you. 
  • Tax Proration: Our Winnebago real estate attorneys will review your tax bill from the prior year to calculate the exact amount of tax proration that will be credited to the buyer at the closing to cover the share of your current year’s tax bill.  You can learn more about tax prorations in this article by our Winnebago real estate lawyers: 

The Top 5 Things to Look Out For in Your Residential Real Estate Contract.  

  • Closing Documents:  Prior to closing, our real estate attorneys will prepare the following documents to be executed at the closing table:
  1. The Deed, which transfers title to the buyer. 
  2. Affidavit of Title, in which the seller testifies regarding any known defects in her title to the property. 
  3. Bill of Sale, which is a receipt showing that the seller has received payment for the property.
  4. ALTA Statement, which is a sworn statement regarding any known encumbrances to the property, such as mechanic's liens and judgment liens. 
  5. Transfer Tax Forms, which are filed with the assessor's office to show the amount paid by the buyer for the property, for the purpose of calculating transfer tax. 
  6. Settlement Statement, which shows all of the money and credits changing hands between the buyer, seller, attorneys, realtors, lenders, and municipalities in the transaction.

Our Winnebago attorneys have the skill, experience, and client-focus necessary to ensure that any obstacles to your transaction closing smoothly are either prevented or resolved efficiently and effectively. 

In any case, it is just as important for the seller to be protected from the contract to the closing.  In this article our Winnebago attorneys discuss their list of important items when they represent a potential seller.

  • Disclosures: Our Winnebago real estate attorneys will prepare and provide the buyer with disclosures from the seller regarding radon hazards, lead-based paint, hazardous mold, and other structural defects, which must be noted in the Illinois Residential Real Property Disclosure Report.  
  • Title Commitment: We will work as a medium between both parties and the title insurance company to review the title record for the property to make sure the seller’s ability to transfer the title to the buyer is not impaired in any way.  We will arrange for the insurance of a title insurance policy, which will protect against any issues not found in the title record at that time.
  • Survey: Our Winnebago real estate attorneys will order a survey and provide it to the buyer, so that the buyer can review the metes and bounds of the property being purchased as well as any easements on the property. 
  • Pay-off Letter: A pay-off letter will be obtained from your lender to show exactly how much is left to be paid on the mortgage by the title company.  This has to be done to ensure the existing mortgage is removed from the property.  
  • Letters from Homeowners or Condominium Associations (If Applicable):  Our Winnebago County real estate attorneys will work with your homeowners association or condominium association to provide the buyer with letters showing that there are no unpaid assessments,  that any right of first refusal to purchase the property held by the association is waived, and that the association's common areas are properly insured.  
  • Municipal Letters: If your village or township requires a municipal inspection prior to the sale of your property, our Winnebago real estate lawyers will arrange for the inspection and obtain a letter from the municipality stating that the inspection has been completed and that all utility bills have been previously paid by you. 
  • Tax Proration: Our Winnebago real estate attorneys will review your tax bill from the prior year to calculate the exact amount of tax proration that will be credited to the buyer at the closing to cover the share of your current year’s tax bill.  You can learn more about tax prorations in this article by our Winnebago real estate lawyers: 

The Top 5 Things to Look Out For in Your Residential Real Estate Contract.  

  • Closing Documents:  Prior to closing, our real estate attorneys will prepare the following documents to be executed at the closing table:
  1. The Deed, which transfers title to the buyer. 
  2. Affidavit of Title, in which the seller testifies regarding any known defects in her title to the property. 
  3. Bill of Sale, which is a receipt showing that the seller has received payment for the property.
  4. ALTA Statement, which is a sworn statement regarding any known encumbrances to the property, such as mechanic's liens and judgment liens. 
  5. Transfer Tax Forms, which are filed with the assessor's office to show the amount paid by the buyer for the property, for the purpose of calculating transfer tax. 
  6. Settlement Statement, which shows all of the money and credits changing hands between the buyer, seller, attorneys, realtors, lenders, and municipalities in the transaction.

Our Winnebago attorneys have the skill, experience, and client-focus necessary to ensure that any obstacles to your transaction closing smoothly are either prevented or resolved efficiently and effectively. 

Winnebago County Real Estate Attorneys, Winnebago County Real Estate Lawyers, Winnebago County Residential Real Estate Attorneys, Winnebago County Commercial Real Estate Lawyers

Further Reading from our

Winnebago County Residential & Commercial Real Estate Attorneys