Can I Sell My Home During Foreclosure?
Diamond Real Estate Law Blog
by Diamond Real Estate Law
9M ago
In Illinois, you can sell your home during foreclosure as long as your lender(s) agree and it is before the sheriff’s sale (also known as foreclosure sale or auction).  After the sheriff’s sale, the lender’s attorney needs to go back to court and ask the judge to approve the sale. This is called confirmation of sale. Theoretically, you could sell your home after the sheriff’s sale and before confirmation of the sale, but most lenders (or lienholders) are not able to do anything after the sheriff’s sale. From our Diamond Real Estate Law attorneys here in McHenry, here’s what you need t ..read more
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What to do if your Buyer walks away before the Closing
Diamond Real Estate Law Blog
by Diamond Real Estate Law
11M ago
last step in a transaction is where the rubber meets the road. Ideally, both buyer and seller want this final stage to go smoothly. If you’re sensing some friction or hesitation, there are a few things you can do to make sure the closing goes off without a hitch. The buyer coming back to the table is a sign the negotiation is going well. But if the buyer walks away before closing, it’s time to start worrying. This is why you should never attempt to manage the sale of a home without proper legal representation. Our team of McHenry, Illinois real estate lawyers at Diamond Real Estate Law is e ..read more
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Illinois Home Inspections: What to Expect from the Buyer
Diamond Real Estate Law Blog
by Conversations Digital
1y ago
Selling a house in McHenry or Lake County? It’s always an exciting milestone to sell your home, but there is still some red tape even after accepting an offer. Once you accept an offer, the buyer will usually start with a home inspection. These home inspections and the following negotiations are crucial because a buyer can cancel the whole deal if they find unacceptable defects. Let our Illinois-based team at Diamond Real Estate walk you through the home inspection process, so you know what to expect. Illinois Home Inspection Process The buyer will contact and hire a home inspector to ..read more
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The Pros and Cons of Selling Your Illinois Property via a Rent-to-Own Agreement
Diamond Real Estate Law Blog
by jiftner
1y ago
If you have a tenant that wants to buy your rental property, is it a good idea to offer them a rent-to-own or lease purchase option? In many cases, it is better to simply sell the property to the tenant. Although you can net a financial premium by providing an option to purchase, you face certain risks like incremental payments, loss of buying interest, and shifting market conditions. Here’s what you need to know about rent-to-own agreements from our experienced team of  real estate attorneys at Diamond Real Estate Law in McHenry, Illinois. Should I Sell My Rental with a Rent-to-Ow ..read more
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Estate Planning For Illinois Real Estate Owners, Developers, and Investors
Diamond Real Estate Law Blog
by jiftner
2y ago
If you are a real estate owner, developer, or investor, you have worked hard to build your legacy (your portfolio of assets). But, what happens to your legacy if something happens to you? If you pass away or become disabled, do you want your family celebrating your legacy or trying to straighten out a giant mess. Grieving families come to our office with bags or boxes of documents they don’t understand asking us where to start and what to do. I have seen entire portfolios fall apart after someone passes because the banks call the loans due and taxes are not paid on time. The last thing you ..read more
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How to Own Your Real Estate in Illinois
Diamond Real Estate Law Blog
by jiftner
2y ago
At Diamond Real Estate Law, we believe that real estate transactions should be simple, clear, and collaborative – and pave the way for a great future for you and your family. With over 15 years of experience, we are passionate about helping you start the next chapter of your life. But real estate encompasses not only your primary residence, but also other things such as a vacation home or a rental property.  The ideal form of ownership varies depending on the type of real estate you own. Below, we take a look at the different types of real estate and offer advice about the best form of ..read more
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What to Do If the Seller Has Not Fully Moved Out Before the Closing in Illinois
Diamond Real Estate Law Blog
by jiftner
2y ago
Life is often unpredictable. You may be eager and ready to move into your new home, but the seller has yet to move out for some reason.  This can be extremely frustrating, but you do have some options available to you.  Among the first things you should do is hire a reputable McHenry, Illinois real estate law firm like Diamond Real Estate Law to work with you through your options and represent you during negotiations. With Diamond Real Estate Law on your team, you can rest assured that all of your bases are covered. Delay the Closing Date On the closing day, you should perfo ..read more
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COVID Issues with Real Estate Closings in Illinois
Diamond Real Estate Law Blog
by jiftner
2y ago
The COVID-19 pandemic is forcing people to spend a lot more time at home, and many people are feeling like they need more space.  Often, when people check with a local Realtor, they are pleasantly surprised at what their house is worth. But the surprise wears off quickly when they either can’t find their next step, or the cost of their dream home is a lot more than they can afford.   The cause of these recent upticks in price, as well as lack of housing availability, is due to COVID-caused supply line shortages.  When you are buying or selling your home, it’s important t ..read more
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What Happens if I Sell a House With Solar Panels?
Diamond Real Estate Law Blog
by jiftner
2y ago
Solar panels are a big decision.  While they do offer many Illinois households long-term benefits like cheaper electricity bills and less use of fossil fuels, you do have to commit to the look and consider the process of making payments on the panels.  If you’re planning on selling your house, it’s especially important to weigh the pros and cons of getting solar panels for your home. For some Buyers, it can be a selling point, but for the Seller, it can potentially make things more difficult. Diamond Real Estate Law can help you navigate through real estate issues such as selling ..read more
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What does a real estate agent do?
Diamond Real Estate Law Blog
by jiftner
2y ago
When it comes to buying or selling a home, almost everyone will tell you that you need a real estate agent. You can hardly drive through a residential neighborhood without seeing an agent’s name on a yard sign out front of a house. But it’s understandable to be skeptical. Can’t I just sell my home on my own? What does a real estate agent really do? At Diamond Real Estate Law, our team of experienced real estate attorneys are dedicated to helping you close on the sale of your home, so you can start the next chapter of your life. Below, we’ve explained everything you need to know about real e ..read more
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