Kevin's firm handled setting up my will and trust recently. They took something that seemed intimidating and made it easy to understand. I've also referred a couple clients to Kevin - he's trustworthy, approachable and very fairly priced.
"I've used Kevin and his firm's services since 2011. He gave undivided attention to my cases, advised me on different options and..."
"Kevin was extremely professional, responsive and knowledgeable when I came to him for help. I would definitely recommend O'Flaherty Law!"
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Downers Grove, IL 60515
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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.
Our Downers Grove real estate attorneys explain some of the key clauses that you should be aware of in residential real estate contracts. We discuss how you should check 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 mortgage contingency clause, tax proration clause, and optional provisions are fair.
Our Downers Grove real estate attorneys are here to help you understand your responsibilities as a real estate trustee and have produced the following companion article to help.
In short, a trustee is responsible for the administration of a trust and has the fiduciary duty to act in the best interest of the beneficiaries of the trust, within the parameters laid out by the trust document. When an estate holds real estate, a trustee must decide whether to transfer the real estate to one of the beneficiaries. This will likely result in a reduction of the share that the beneficiary is due from the remainder of the estate's assets.
Read more by our Downers Grove real estate attorneys on selling real estate within a trust.