When homeowners fall behind on their mortgage payments, they’re not just at risk of losing their homes, they become prime targets for scams that can rob them of the equity they’ve spent years building. Recent headlines from both Arizona and Chicago reveal alarming tactics used by fraudsters to prey on people in crisis. These cases...
The Northwest Housing Preservation Ordinance (NSPO) is reshaping the real estate landscape in several Chicago neighborhoods. Passed by the City Council with the goal of protecting affordable housing, the ordinance introduces new regulations that grant tenants the right to match offers on rental properties before a sale can proceed. While advocates see this as a...
The new year brings important updates to the standard real estate contract, which will go into effect on February 1st. These revisions introduce significant changes designed to improve clarity and efficiency in real estate transactions. Familiarizing yourself with these updates will position you to best guide your clients. Clarifying the “As Is” Condition One of...
What Happens If Insurance Fails to Protect? “Insurance: an arrangement by which one has a guarantee of compensation for a specified loss or damage in exchange for the payment of a premium.” We think of insurance as the way we are protected in the event our houses suffer damage from weather, fire, vandalism, or unexpected...
Title disputes can arise at any stage of a real estate transaction and often catch both brokers and clients off guard. The Seller’s attorney will need to clear out the disputes before the closing. But if disputes arise later, after the closing, the issue is between the Buyer (now owner) and the title insurer. Before...
Listing a property “as is” introduces a specific array of factors for buyers, sellers, and their representing real estate brokers. The phrase might appear simple, but it carries complex and significant meanings. Real estate attorneys are key in shedding light on these subtle details, equipping brokers with the knowledge to navigate their clients confidently and...
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