So you found the perfect home and your offer has been accepted. Congratulations…..now it’s crunch time. In the typical Chicago real estate transaction you, as the buyer, have 5 days during which your attorney will review your contract and your inspector will evaluate the condition of the property. In a competitive and active market, you don’t have much time to waste. You’ve gotten referrals from your realtor, closing attorney, lender, Yelp, Angie’s List, neighbors, friends and co-workers, and you’ve found just the inspector for the job….you hope. You set the appointment and the inspector sends you the Inspection Agreement. Reading through the agreement, or contract for services, you may be struck by the apparently one-sided nature of the risk placement…it’s all on you!
To My Realtor Friends Who May Read This,
Please accept my preemptive apologies for some off the cuff, unvarnished
notes rants from the field. I know quite a few agents who bring tremendous value to their clients and who have the best interests of those clients in the forefront. We love working with those kind of agents on a collaborative basis and we cherish those relationships. Having said that, I’d like to talk about yesterday’s 2 unit ‘vintage’ apartment building inspection. Continue Reading →
If you live in or around Chicago then you know that a huge ‘buzz’ in the real estate industry lately is the new ‘606 Trail’ aka ‘Bloomingdale Trail’. It’s a section of an abandoned railroad line that has been converted to a very pleasant hiking/biking trail. If you live in or around Chicago you also know that our politicians have a long history of taking advantage of real estate opportunities. Continue Reading →