Naperville Real Estate Attorney
Experienced Lawyer for Residential Real Estate Transactions in DuPage County and Throughout Northern Illinois
The Illinois residential housing market has dramatically improved over the last five-year period. Current statistics illustrate the following key market indicators in comparison to 2011:
- Median home prices have ascended by almost 25 percent.
- The volume of homes sold is approximately 35 percent higher.
- Homes currently average 63 days on the market compared to 106 days, about a 40 percent spike.
- Available inventory in the market is at the lowest level since 2008, indicating soaring demand.
Amid the positive momentum and increased activity, buyers and sellers must approach their local housing market with a firm grasp, using the best available professional resources. Regardless of your position in the volatile residential real estate arena, actions should be facilitated by an experienced attorney.
Professionals Involved in Property Transactions
Our law firm knows the value of a skilled real estate team. We can help you work with different professionals throughout your home buying or selling experience:
- Real Estate Agents - Illinois agents are sponsored by a licensed broker. Duties may include presenting offers, counteroffers, marketing and presenting the property, disclosing defects, and more.
- Home Inspectors - Home inspections are necessary to uncover defects prior to a property transaction. There are generalized inspectors as well as specialists for pests, fireplaces, etc.
- Lenders - Buyers should meet with lenders to discuss and compare financing options. Buyers may obtain a written pre-approval to establish a realistic price range and serve as a signal to sellers that you are legitimately able to purchase.
- Title Companies - May conduct activities such as confirming there are no property liens and identifying easements. Title insurance policies are used to protect against potential unanticipated claims on the property from others.
- Appraiser - Might assess and verify the property's value for gauging purchase and/or offer prices; the role of gathering and analyzing data is to be conducted impartially.
- Surveyor - May clarify property boundaries, assess shared driveways, confirm building or improvement conformity, and report locations of underground cables, drains, utilities, etc.