Share/Bookmark

 

Residential Real Estate Attorney

 

The attorneys at Madison Group have extensive experience in real estate closings.  Our attorneys represent purchasers in their new dream home.  Purchase and sale of a home can be very daunting tasks.  First, you have to find your new dream home, negotiate the price, obtain financing, inspecting the house for any potential problems and lastly the closing and numerous documents, including mortgage, deeds, and closing statements. 

 

It isn’t much easier for the sellers either.  Sellers have to find a buyer for their home, negotiate the price and close on the property.  Madison Group represent a variety of buyer and seller in their first home purchase and their third or fourth purchase throughout Chicago and the surroundings areas.

 

Contact the attorneys at Madison Group if you are purchasing or selling your real estate.

 

 

 

 

What does a real estate attorney exactly do?

 

Real estate attorneys represent their clients best interest.  Our attorneys are looking out for the clients best interest and protect their interests.  Our attorneys are hired to protect you!  Though most real estate agents and mortgage brokers are there to help you, the real estate attorney at Madison Group are here to help you and protect your interest by providing detail-oriented service in all matters of your home purchase.  We carefully review your real estate purchase contract and guide you through the terms of the contract, review your inspection, review the title of your property to ensure you receive what you are paying for and handle and review you’r your documents in detail at closing.

 

Contact the attorneys at Madison Group for your next real estate purchase or sale.

 

Timing is everything

 

It is important to consult with a real estate attorney who completely understands the details of a residential real estate closing.  Quite frankly, real estate is a very intricate field that many attorneys are not as familiar with. The attorneys at Madison Group are highly experienced in the art of real estate and have successfully protected all their clients in real estate matters.  Therefore, it is important to consult with a real estate attorney before you sign a real estate contract and if you have signed a contract that you immediately contact an experienced real estate attorney as certain matters must be immediately taken care of to protect your interest and money. 

 

If you are ready to sign your real estate purchase contract or already have, contact the experienced Attorneys at Madison Group LLP immediately.

 

Typical Real Estate Purchase Contract Issues

 

When signing a real estate purchase contract, make sure you have an Attorney Approval Contingency or otherwise known as the Approval Review/Approval Period.  This clause allows you to have an attorney review your contract and if the contract is detrimental to your interest an attorney can cancel your contract and return of your earnest money.  Additionally, there are two other significant contract provisions you should have which are, the Mortgage Contingency or Finance Contingency and Inspection Contingency.  These two provision will allow you to void your contract if you are unable to secure financing to purchase the property and secondly, if the property has issues as far as major structural, electrical, plumbing and other major issues.

 

Let the attorneys at Madison Group LLP guide you through your real estate purchase and protect your best interest.  Contact us for more information.

 

Smooth Transactions

 

Our objective at Madison Group LLP is for your real estate closing from the drafting and execution of the purchase agreement to closing to be as smooth and trouble-free as possible.  Our attorneys focus is to anticipate potential issues and resolve them immediately from financing, property valuation, commercial and residential leasing, zoning and title.  Also, our business law and estate planning experience gives you the added expertise in properly titling and protecting your assets from creditors and other claims.  Let the Attorneys at Madison Group assist you in your next real estate matter.

 

 

Short Sale or Loan Modification

 

Due to the recent housing crisis, significant portion of Madison Group's real estate practice is focused on real estate short sales and loan modifications.  Our office has trained and experienced staff that can expeditiously manage and negotiate your short sale or loan modification.  If you are a real estate professional or individual seeking either a loan modification or short sale, contact our office immediately.  It is important to act fast as time is limited and necessary steps will be required to avoid foreclosure or loss of your property.

 

What is a Short Sale? A Property may have several liens on the property from Third Parties (i.e. banks, individuals or other entities) for various reasons to secure a debt or obligation.  When these Third Parties accept a payoff which is "Short" of the full debt or obligation to release the lien on the property and the sale of the property is procured then this is considered a "Short Sale".  

 

Madison Group negotiates short sales on a regular basis and comprises of a significant portion of our real estate practice.  We have worked with many banks and have a good relationship and have the experience and expertise to negotiate and sell your property.

 

To expedite your file, please provide the documentation listed below and fax to (312) 251-6009 or email us at info@madison-law.com

 

Checklist to start your real estate shortsale or loan modification:

1) Most recent federal tax return

2) Two (2) recent bank statements

3) Two (2) recent pay stubs

4) Hardship Letter (letter explaining why you cannot make your monthly payments)

5) Authorization Letter permitting Madison Group LLP to contact your bank (contact us for a pre-drafted letter for your convenience)

6) Recent mortgage and lines of credit statements

7) Offer(s) to purchase your property (if a shortsale).  If you do not have an offer, contact us immediately and we will put you in touch with experienced real estate professionals.

8) Monthly financial statement.