Today's topic in my video series is the importance of the attorney. Yes, you got to get one, okay? In Illinois we are an attorney state. What that means is in a lot of other states attorneys aren't required for the closing table, agents will handle that paperwork, but here in Illinois you need to have an attorney. Importance of the attorney is step #10 in my 13 part video series buying a Chicago home. Watch the video to learn more
At the end of the day, you're assigning a legal document, okay? I'm not an attorney, so any legal matters, and a lot of times with residential real estate it's pretty straightforward, okay? But in some other situations it can get a little hairy on the legal side, so you need an attorney in your corner. As I mentioned in my costs, buyer costs video, expect to pay anywhere from 500 to $800, so understand if you have two sides of the transaction, meaning, if you happen to be listing your home, which of course I can help with too, and buying a home, I do have attorney partners that will provide a slight discount for those two transactions. However, typically expect to pay between 500 and $800, all right? The attorney's involvement basically kicks in as soon as the contract is executed. I will forward it over to the attorney and basically they will review it, they will schedule a follow up call with you, review all, any questions you have, review the Ts and Cs, the terms and conditions of that contract, and then basically they will work with the seller's attorney to bring final figures together. Probably one of the most important things is they're always there. From contract to closing, of course, they're always there to answer your questions, but one of them, one a little bit more high level, one of the major benefits is the reviewing of all the paperwork at the closing table. That is their responsibility. I will be there, of course, if there's any last minute questions, but it's the attorney's responsibility to sit down with the buyer and go through all of the paperwork. Hope you found this video, the importance of the attorney. It is additional costs, but it's a very important cost. Remember, your biggest asset of your life, you want to have someone, you want to have legal representation. You have agent representation and you also want to have legal representation. Any other questions, feel free to call me, Thank you.