Vital Chicago Rental Lease Clauses, Addendums, and Disclosures for 2023
Introduction to Attorney-Drafted Chicago Leases When it comes to leasing a property in Chicago, your lease agreement must include specific clauses, addendums, and disclosures. These terms are crucial in protecting the interests of both landlords and tenants. Further, they help avoid any misunderstandings that may arise during the lease term. Often, they are crucial for […]
SB1872: Illinois Law on Wholesaling Houses
On the first of January, 2020, the State of Illinois passed SB1872, and effectively outlawed real estate wholesaling in Illinois. Undoubtedly, many investors are scrambling to find a business model that fits the new law. So, today we will answer three questions: First, what is Real Estate Wholesaling? Second, why did Illinois make wholesaling houses […]
Illinois Real Estate Disclosure Law – 2022 Form and FSBO Disclosures
If you’re looking to sell residential real property in Illinois, it’s important to understand the Illinois real estate disclosure laws. Whether you’re selling a single-family home, a condo, or a four-unit multifamily property, you must file a disclosure form as defined by law. Even if you’re selling the property as-is. In fact, the Illinois Association […]
Illinois Real Estate Advertising Laws – Ethical Advertising Made Simple
Real estate advertising is a key part of finding leads and meeting potential clients. However, REALTORS must also honor real estate advertising law in Illinois and the REALTOR® Code of Ethics. Violating these rules can have severe consequences for your reputation, cash flow, and career. Real estate brokers must ensure that their advertising practices comply […]
Dual Agency? Rights, Realtors, and Lawyers.
While dual agency agreements allow buyers and sellers to save money and better project costs, both parties will never truly get the maximum benefit they would in an adversarial transaction.
What Kind of Mortgage Would a Mortgage Attorney Recommend?
Buying without your finances in order can cost 1000s annually. Learn the new FICO score guidelines and FHA rules for 2020’s post-COVID lending.