Why There’s More to Real Estate Law in Chicago Than You Might Think

Spend any amount of time Googling about Chicago real estate, and you’re bound to come across search results with headings like: “How to Buy a Home in Chicago!” or “XYZ Ways Buying In Chicago Is Different Than It Is Anywhere Else” or “Buying a Chicago Home, in 10 Easy Steps.”

When you see articles like that pop up again and again, it tells you something: There’s a demand from people trying to understand just what it is that makes the Chicago market unique, and what it takes for them to navigate it successfully.

And rest assured, there are plenty of things that make Chicago a unique place for homebuyers or sellers! From the city’s robust public transportation options, to the huge diversity of architectural styles you’ll find around town, to the number of homes on the market… There’s a lot to wrap your head around.

One aspect of buying or selling in Chicago that many people tend to overlook – from families looking to buy their first condo to developers seeking to leave their mark on a neighborhood – is the legal side of things.

It’s easy to forget just how much law there is underpinning every single real estate transaction. This is especially true, in many cases, for buyers and sellers weaned on a steady diet of HGTV or Bravo.

On TV and in movies, the homebuying or selling process is generally depicted as being formulaic, and as easy as pie. Buyers see three perfectly staged homes, then make a purchasing decision, then secure their dream place for thousands below asking, without ever even having to really negotiate on price, or figure out closing timelines, or handle contingencies.

As any real estate veteran will tell you, they leave a lot of the meaty stuff off of TV. After all, people want to be sold a fantasy; they don’t really want to get bogged down in the nuts and bolts, or see how the sausage truly gets made.

But when it comes to real estate, that “behind the scenes” stuff really matters. It’s like the last two minutes of the basketball game, when all of the really important things go down. And for buyers, sellers, developers, investors, and businesses, a qualified legal professional is going to be like your point guard. As the real estate transaction goes on, they’re going to be doing a lot of important work reviewing documents, handling negotiations, and generally making sure that the right papers get in front of the right people at the right times, all filled out the right way.

And in the Chicagoland area, where factors like local history, zoning, preservation issues, taxes, and a whole slew of local regulations on disclosures, rental agreements, and commercial development come into play, it’s often even more important to have a qualified, experienced attorney by your side.

The bottom line is that there is a lot more to real estate law in Chicago than just processing purchase and sale agreements, handling title paperwork, and so on. There’s a lot more to Chicago real estate law than you may think. There’s a reason why attorneys are typically considered to be essential players when it comes to Illinois and Chicago real estate transactions.

Do you have someone by your side who can help you manage it all?

About Gunderson Law Firm

At Gunderson Law Firm, our attorneys and staff specialize in helping individuals and businesses throughout Illinois with real estate transactions insightfully, promptly, and professionally. Our full range of real estate legal services includes:

  • Residential Real Estate
  • Commercial Real Estate
  • Purchases and Sales
  • 1031 Tax-Free Exchanges
  • Mortgage Conveyancing & Advice
  • Real Estate Litigation
  • Title Insurance
  • Title Examinations & Disputes
  • Asset Protection/Trusts
  • Estate Planning/Wills
  • Reverse Mortgages
  • Property Development
  • Condominium Law
  • Foreclosures

Don’t hesitate to drop us a line or give us a call to arrange your free initial consultation.

2018-11-28T11:11:30+00:00 September 20th, 2018|Community|