REAL ESTATE LAW

Whether you’re looking to buy or sell real estate, Madison Lawyers Group, PC can assist you through every step of the process. We handle both residential and commercial transaction and represent buyers, sellers and investors. If you are in a distressed property and are close to losing your home to foreclosure, we can assist you in modifying your existing your loan or short selling your property. The bank may also accept a deed in lieu of foreclosure. Contact Madison Lawyers Group, PC to discuss all your real estate needs.

Residential Real Estate Purchases

When purchasing your new home, you are given a limited period of time to have an attorney review and negotiate your contract. It is important that a legal professional ensures that the terms of the contract protect your interest. There are various contingencies that, once expired, can result in a loss of your earnest money. Having an attorney assist you in making sure these contingencies are met can save you from losing your money and will give you peace of mind. It is also important that the condition of your property is suitable for living, and that is why your attorney should carefully review and negotiate any inspection issues that may arise. 

At closing, all numbers are final and it is vital that you have an experienced professional with you to review the figures and protect your biggest investment. Madison Lawyers Group will ensure that you have good, clear and marketable title to your new property. We will walk you through each step of the closing process until you hold the keys to your brand new home. Contact us for your legal consultation.

Residential Real Estate Sales

If you are selling your property, there are a number of documents which need to be prepared for closing. There are also various items, such as water and zoning certifications, payoff letters, paid assessment letters and certificates of insurance, that must be ordered prior to closing. You must also ensure that all conditions on title are cleared for your new buyers before closing. 

This entire process, if you are unfamiliar with it, can be extremely overwhelming. Make sure the process is done correctly by retaining the services of an experienced professional. At a low cost to you, all your real estate needs will be met and you will have the peace of mind knowing that your transaction is being handled by a competent attorney. Call Madison Lawyers Group, P.C. for your legal consultation.

Short Sales

Are you late on your mortgage payment? Have you recently lost your job or had a change in your financial circumstances that has made it difficult, if not impossible, to keep up with your monthly payments? Foreclosure can destroy your credit it and make it nearly impossible for you to make any major purchases for several years. Avoid foreclosure by short selling your property. 

Short sales have become increasingly popular and, as a result of the current economic conditions, more and more banks are accepting purchase prices that are well below the loan amount. This process can be very tedious and time consuming. Don’t waste another minute making payments on property that is simply no longer worth it. Get the relief you've been seeking by short selling your property. It won't cost you a penny - the bank pays all your attorney and realtor fees! Contact Madison Lawyers Group for more information on avoiding foreclosure through short sales.

Loan Modifications

If you are experiencing a financial hardship but don't want to have to leave your home, you may be eligible for a loan modification. There are new laws in place that will help home owners keep their property and avoid foreclosure. You may be eligible for deferring your payments, lowering your interest rates and reducing your monthly mortgage. But the process can be tedious and time consuming. An experienced attorney can assist you in keeping your home and restructuring your loan so that you can afford your payments. Contact Madison Lawyers Group for more information on methods to avoid foreclosure.

Commercial Real Estate Transactions

Whether you are looking to invest in commercial property, sell your current property or purchase a bank note, you need an experienced real estate attorney to prepare your documents and facilitate the transaction. The documents involved in the purchase and sale of property and bank notes can be complicated and it is vital that you avoid any post closing issues, which may arise, by retaining counsel to handle your real estate needs. 

At Madison Lawyers Group, we can also assist you in managing your tenants by preparing and negotiating residential and commercial leases. Because of the strict Chicago Ordinance and the tenant-friendly laws that are in place in Illinois, it is vital that you follow all the rules in order to avoid outrageous penalties. Contact a lawyer at Madison Lawyers Group for more information. 

If you are a Landlord of City of Chicago property, it is required that you attach the below Chicago Residential Landlord and Tenant Ordinance (RLTO) Summary to your leases. Also, be sure to pay interest annually on your tenants security deposits pursuant to the RLTO Rate of Interest on Security Deposits, below. 

Download RLTO Summary
Chicago Rate of interest on Security Deposits


Need a Chicagoland Area Realtor?  Contact Emmanuel Onyemeziem of Charles Rutenberg Realty.  

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