Liens are an important concept to understand when it comes to real estate and bankruptcy law. Unfortunately, they’re also a piece of the puzzle that many of us tend to overlook – until it’s too late. In a difficult moment, getting a handle on how liens work and what they are could make all the difference between protecting your interests, and having to give up the assets that mean the most to you. Let’s dive into //READ MORE
Many states in the US require a real estate attorney to be present at home closing events. Here in Illinois, it is not strictly required for home buyers or sellers to have an attorney – but it is often considered a de rigeur part of the process. For sellers looking to ensure that their home sale goes off smoothly, quickly, fairly, and lucratively, an experienced real estate attorney is often going to be a key part //READ MORE
There are many different types of debt available to consumers, and it’s important to understand the distinctions between them. Having a handle on which types of debt you’re dealing with, for instance, can play a big role in determining if filing for bankruptcy is going to be the right course of action for your personal situation — and if so, which type of bankruptcy will best suit your financial needs (e.g., Chapter 7 or Chapter 13). //READ MORE
When it comes to real estate, most buyers and sellers know that closing costs are part and parcel of every transaction. But breaking down those closing costs, and understanding what, precisely, they entail? That’s a different matter entirely. For many buyers and sellers, one of the most important concepts to understand when it comes to real estate are transfer taxes. Transfer taxes play an enormous role in essentially every single real estate transaction in our home //READ MORE
You love the listing that your broker just showed you. Except you’ll need to get rid of that ugly carpet in the master bedroom. And you’ll have to break down a few interior walls to create a better flow. Also, while you’re at it, you should probably tear up that old tree in the backyard. Maybe replace the fence, redo the siding, and add a new paved area to the back, while you’re at it. Easy, //READ MORE
