Residential Real Estate Transactions

The Purchase or sale of a home is often the largest financial transaction a person will undertake during his or her lifetime.  As such, a prospective home buyer or seller should hire legal counsel to protect their investment and make sure the transaction progresses smoothly and with full legal effect.  Choosing a competent and experienced attorney who is well versed in all areas of Residential Real Estate Law will provide buyers and sellers with investment protection.

Representing Buyers

For buyers of real estate, we provide the following services:

• negotiate the terms of the purchase agreement

• review and revise the terms of a fully executed Purchase Contract subject to the terms of the Contract’s Attorney Modification Clause

• direct a list of home inspection demands to seller per the Home Inspection Clause of the Purchase Contract

• verify that all disclosures required by seller are provided to buyer

• for condominiums, request and review required condominium disclosures to verify financial viability of the Condominium Association

• if financing is required for buyer to purchase the property, verify that the Purchase Contract is contingent upon buyer receiving a firm loan commitment from a reputable lending institution

• resolve any and all final inspection matters

• attend closing to review lenders loan documents with buyers prior to buyers execution of the loan package, review and explain the title transfer documents, title insurance commitment, survey and miscellaneous closing documents.

• provide buyer with the file stamped original Deed and original Title Insurance Policy approximately 90 days after closing

NO HOME BUYERS SHOULD EXECUTE A PURCHASE CONTRACT WITHOUT VERIFYING THAT THE PURCHASE CONTRACT HAS AN ATTORNEY REVIEW/MODIFICATION CLAUSE ALLOWING FOR, AT A MINIMUM, AN ATTORNEY TO REVIEW THE PURCHASE CONTRACT WITHIN 3 BUSINESS DAYS OF THE EXECUTION OF THE CONTRACT BY ALL PARTIES.

Representing Sellers

For sellers of real estate, we provide the following services:

• negotiate the terms of the Sales Agreement

• review and revise the terms of a fully executed Sales Contract subject to the terms of the Contract’s Attorney Modification Clause and reply to any such correspondence from buyer

• reply to any Home Inspection correspondence received from buyer

• order title commitment from Title Company in which we hold an agency relationship

• order survey, if required

• clear any title exceptions, such as prior mortgage paid but still showing as a lien on title

• order mortgage payoffs, paid assessment letter, paid water bill, zoning certification, or the like that may be required in any specific transaction

• prepare transfer documents such as, Warranty Deed, Affidavit of Title, Bill of Sale

• prepare Power of Attorney for seller who may wish to not attend the closing

• attend closing and explain all documents to seller for their execution to enable the transaction to close

• if seller executes the Power of Attorney, attend closing and execute all documents required to enable the transaction to close and verify that sellers proceeds from the sale are either wired to seller or delivered via overnight mail

If you wish to retain this firm, please call us at 847/729-6900. You may also contact us via fax at 847/729-6941 or via email at jhaffner@jhaffner.com.

Commercial Real Estate Transactions

We represent numerous clients concerning the purchase and or sale of multi-unit residences, commercial and industrial properties.  Please call to inquire about our services and rates concerning these types of transactions.