In the last decade since the economy has been recovering from the great recession, many people in Illinois have been buying and selling homes as their personal financial situations also rebound and maybe even improve. While it is not uncommon to buy or sell a home, that does not mean consumers should not take the process seriously. Without the right steps being taken, a buyer could end up with a serious problem on their hands.
You would probably not have to have a real estate agent — or an attorney, for that matter — involved when you buy a home in Illinois. However, regardless of whether it is a legal requirement, it is often a practical necessity to engage the services of someone who is familiar with the buying process.
As a homeowner in Illinois, the notion of downsizing may have come up for you before. You may be wondering if the benefits could outweigh any potential downside. There are plenty of benefits to be found in downsizing, some of them related to lifestyle and some related to finances.
If you live in Illinois and are thinking about purchasing your first home, you probably have lots to consider. Maybe your primary objective is to find a home in a neighborhood with great schools, or maybe your biggest goal is to shorten your commute. Regardless of your reasoning for starting the house hunt, knowing what to expect – and what to avoid – can streamline the process and save you some serious money. At Mockaitis Law, we recognize that many first-time homebuyers make similar errors, and we have helped many people navigate Illinois’ housing market and find solutions that meet their needs.
Whether you are buying or selling a home in Illinois, it is a significant legal and financial step. Many people underestimate the serious nature of this type of transaction, assuming that they only need an experienced real estate agent to navigate the potential complications of this process. In reality, even as the seller, it can be helpful to understand how you can protect your long-term interests.