Real Estate Closings

While Illinois does not legally require an attorney for real estate transactions, it is strongly recommended. An attorney reviews contracts, negotiates terms, resolves title issues, and ensures your interests are protected from contract through closing. Most transactions in the Chicago area involve attorneys on both sides.

Your attorney reviews all closing documents including the settlement statement, deed, mortgage documents, and title commitment. They ensure all financial figures are accurate, resolve any last-minute issues, and make sure the transaction is properly recorded with the county.

Fees vary depending on the complexity of the transaction. REAL Law Group provides transparent, competitive pricing. Contact us for a quote specific to your transaction — we are happy to discuss fees upfront during a consultation.

A 1031 exchange (tax-deferred exchange) allows you to defer capital gains taxes when selling an investment property by reinvesting the proceeds into a like-kind property. Strict timelines and rules apply — you have 45 days to identify replacement properties and 180 days to close. Our team guides clients through every step.

A warranty deed guarantees the seller holds clear title and has the right to sell. A quit claim deed transfers whatever interest the seller has — with no guarantees. Quit claim deeds are common for family transfers, divorces, and moving property into trusts, but they carry more risk for buyers.