The property market has experienced many ups and downs over the past few years. After the big market crash of 2007 many people thought they would see a fast recovery and prices would bounce back. However, this has not proved to be the case and selling a house can be a very long and difficult process. Working with a good real estate attorney Arlington Heights can often make all the difference.

The buying and selling of any property can be very stressful. A deal can never be considered final until everything is complete and the very last signature has been obtained. Sadly, things can and do go wrong up to the very last moment. Many people experience extreme frustration and heartache as a much needed deal falls apart at the last moment.

Both buyer and seller have many responsibilities in the sale process. Once they have agreed on a sale price the contracts need to be drawn up and signed by everyone. In most cases a Realtor is involved and can help with this part of the process. However if it is a private transaction the contracts are put together by the attorney acting for the seller and sent to the buyer for review and signatures.

Home sellers need to make sure they have all the necessary paper work with their attorney as quickly as possible. As soon as a contract is signed both parties have legal obligations to each other. The seller must get a certificate of occupancy for the property and provide an up to date survey. They should also make every effort to cooperate with the buyer and provide any necessary information as soon as requested.

As soon as the contracts are signed the clock starts ticking. Most transactions are closed with six to eight weeks, depending on their complexities. Getting a mortgage in place is one of the most difficult of all stages in a property sale. The buyer should be aware that their credit will be checked thoroughly and they will be required to provide proof of employment and tax returns for the past few years.

Failing a septic test need not be the end of a deal. In some cases it may be something relatively simple such as a cracked pipe that can be fixed for a few hundred dollars. However, if the the system needs a lot of repairs this can be grounds for backing out of the deal. Other legitimate grounds include being unable to secure a mortgage or failing a credit check.

Attorneys spend many years of training and must pass rigorous exams to be awarded a license to practice law. They typically join a firm and spend some years in general practice before deciding where to specialize. Because the laws change so fast it is vital that buyers and sellers only work with those legal professionals who are experts in the many laws surrounding a property transaction.

A closing date will be set that is agreeable to both parties. The last few days before closing can be extremely stressful as everyone hopes that nothing goes wrong. Good communication is at the heart of a successful deal and any issues should be disclosed as soon as possible. In many cases there are ways to work around problems, as long as everyone is up front and honest.

A good real estate attorney Arlington Heights will do everything they can to bring a deal to closing. They are only too aware of how important it is to keep their clients best interests in mind. Daily communication is often needed to make sure that all the essential documents are at the office and the deal can proceed on time.

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