Jennifer L. Johnson, Crystal Lake Lawyer speaks about buying a home, selling a home. What is needed from a legal perspective in real estate law.
Jennifer L. Johnson: “Hi, my name is Jennifer Johnson, and I’m a partner here at Zanck, Coen, Wright, and Saladin. I’ve been with the firm since 2005. I concentrate my area of practice in landlord-tenant law, real estate, general civil litigation, construction litigation, and I also handle some traffic offenses.
All right, and another area that I practice in quite a bit is residential real estate. Residential real estate includes buying homes and selling homes, vacant land as well. There’s also commercial real estate. If somebody’s buying a commercial piece of property or selling a commercial piece of property, there’s certainly different requirements that that process entails, versus residential real estate. And we do have attorneys in the office that are equipped to handle that.
For myself, I handle, as I said, residential real estate and assisting clients in buying and selling homes. On the sale side, I think it’s important to know that once you have a contract for the sale of your property, there are some timeframes that are in place for real estate law. The buyer has the right to do a home inspection, and you have to be able to address those items and come to an agreement with the home inspection items. Oftentimes, after that part of the process is resolved, then the buyer also has to make sure that they get their financing in line. And then the last part of the process, of course, is closing.
Likewise, with a buyer, you’re going to be going through the same process obviously. You’re going to have to engage a home inspector, have a home inspection done, and then make sure that you’re working to get your final financing to have your mortgage approval. On occasion, there’s buyers that pay with cash, so obviously you only have one part of the process, which is the home inspection versus going through the mortgage process.
So we assist in residential sales and purchases. Illinois is one of the states in the country that does utilize attorneys on both sides of the transaction, and of course it’s advisable. As a seller, you want to make sure that everything is in line with the property, working on any title issues and things like that.
And with the buyer, of course you want to make sure that everything’s in line with your loan, that your deadlines under the contract are preserved, and you also want to make sure that you’re getting what you’re bargaining for, and you’re getting clear title to the property, and everything’s in line for you to move forward and finalize the purchase of the property.
So, I work with several realtors in the area, and we assist from start to finish on either a sale or a buy in real estate law, and we’d be happy to help you out on that as well, if the need would arise.”