Chicago Real Estate Closing Attorneys
Lufrano Law, LLC’s experienced real estate closing attorneys represent purchasers and sellers, residential and commercial clients, in real estate closings in Chicago, Illinois. Real estate transactions can vary greatly depending upon the unique circumstances of the parties, the property and the location where the transaction takes place. Our services vary depending upon your needs and the nature of the real estate transaction.
However, the real estate transaction process generally falls into several phases:
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Real estate negotiation and execution of sales contract;
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Pre-closing due diligence on property (attorney review, inspections, title review);
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Funding (i.e loan approval);
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Real estate closing; and
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Post-closing.
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We will guide you through the complex real estate transaction process and negotiate the best deal possible - always with your goals and needs in mind. Below are some of the unique steps involved with closing a transaction in Chicago.
City of Chicago Real Estate Closing Process
The City of Chicago does not require a pre-transfer inspection of all property prior to closing like other municipalities. However, a final water bill ready must be ordered and paid prior to closing.
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Chicago also charges a transfer tax equal to $3.75/500 of the sales price listed in the contract.
Lufrano Law, LLC can assist both purchasers and sellers navigate this process.