The M. W. Brady Law Firm offers the depth of legal service and experience needed to successfully represent real estate clients in all projects and transactions including Residential and Commercial Sales and Purchases, Short Sales, Landlord Tenant issues, Development Projects, Condominium and Association Law, and Residential and Commercial Leasing. Our Firm provides creative, pragmatic and cost effective services while emphasizing diligence and clear communication throughout the engagement.
Purchase and Sale Transactions – Real Estate Closings
For most people, buying or selling a home is one of the largest transactions they will ever make. To make certain that you get the outcome you need and expect, you want an attorney who understands the intricate details of real estate transactions. Our firm understands the risks involved and resources needed to guide and protect you throughout the transaction process.
For purchasers of residential real estate, our services include reviewing and modifying the contract for your benefit, negotiating issues raised by property inspections, protecting your contingencies, reviewing title insurance commitment to ensure it is clear and free of all liens, and appearing at the closing to explain and otherwise shepherd you through all of the paper work. Our goal is to protect your rights and interests all while helping to make the transaction as stress-free as possible.
For sellers of residential real estate, our firm works to ensure that you are complying with your contractual obligations and conveying clear title to the purchaser. We will also ensure that you have made all appropriate disclosures to the buyer, perform a title examination and clear all liens and encumbrances, prepare all required documentation, and attend the closing. We will work to minimize all of your costs, including closing costs, to help you maximize the proceeds of your sale.
In today’s economy, many homeowners are finding it difficult to sell their home due to a variety of reasons. If your home is worth less than your mortgage amount, you have had a loss of income and/or other recent circumstances have you falling behind in mortgage payments. If recent circumstances have affected your ability to keep up with your mortgage payments, if your lender has notified you that they are beginning foreclosure proceedings, a short sale may still be an option.
A short sale is a real estate transaction in which the bank or lender agrees to let the homeowners sell their home for less than their loan balance. Although a Short Sale can have a negative impact on your credit, it is usually less damaging to a person’s credit than a foreclosure or bankruptcy.
If you are an Illinois resident considering a Short Sale on your property, the M. W. Brady Law Firm will guide and advise you throughout the process to negotiate a short payoff with your lender. Contact us today.
Real Estate Development
The M. W. Brady Law Firm, P.C. provides legal counsel and representation to clients involved in all types of commercial and residential real estate development projects in Illinois including development of subdivisions, condominium and apartment complexes, shopping centers, office buildings and other commercial developments.
We work with Real Estate Developers prior to beginning the transaction, by setting up the purchasing entity to maximize the tax benefits and minimize the liability risks associated with real estate purchase, sale, ownership, development and management. Our services then include taking the transaction from the initial stage, such as purchase of raw land, through negotiations for interim and permanent financing, and then to development and the sale or leasing of the property to the end user.
Condominiums and Associations
The M.W. Brady Law Firm represents Condominium Developers as well as existing Condominium and Homeowner Associations.
For the condominium developer, our services begin by drafting the condominium declaration, property report, unit purchase contracts and other required documents. We will then negotiate construction loan documentation, obtain title insurance company approval of condominium documents, negotiate the unit purchase contracts with purchasers and see the transaction through closing. Finally, we will assist the developer regarding turnover of the control of the condominium to the unit owners’ control.
In our representation of existing Associations, our services include consultation with the Association board regarding operation of the Association and representation of the Association in collection of assessments and Rules and Regulations violations.