During attorney review
Under the Multi-Board Residential Real Estate Contract 8.0, attorneys have five business days after the date of acceptance to approve, disapprove or propose modifications. This is when contingencies, dates, credits and the inclusion or exclusion of fixtures can be clarified. Read more in the attorney review guide.
Inspection and repairs
The inspection period is short and its rules are specific. Your attorney prepares the notice of defects, negotiates repairs or credits with the seller's attorney, and makes sure requests stay within the contract so the seller doesn't gain a right to terminate.
Title, survey and condo documents
Before closing, the title commitment shows who owns the property and what liens, easements and restrictions affect it. The survey shows where the lines and structures actually are. For condominiums, the resale disclosures show the association's finances, reserves and any special assessments. See the condo disclosure guide.
At closing
Your attorney reviews the closing disclosure and settlement statement against the contract, confirms prorations for property taxes (Cook County taxes are paid a year in arrears, so the seller credits the buyer at closing), and walks you through the loan and title documents before you sign.
What it costs
Residential purchases are handled for a flat fee, quoted up front before you sign anything. You'll know the cost of the legal work before attorney review begins, so there are no hourly surprises if the deal takes extra negotiation.
- Included: contract review and attorney review modifications, inspection negotiations, title and survey review, condominium document review, review of the lender's Closing Disclosure and settlement statement, and attendance at closing or a mail-away closing.
- Quoted separately: litigation or earnest money disputes, entity formation for LLC purchases, new construction contracts, and matters outside the purchase itself.
- Not attorney fees: title insurance, lender charges, transfer taxes and recording fees are third-party costs. Estimate them with the buyer closing-cost calculator.
Tools for this step
What clients say
“Every single question that we had during the closing was answered with all the information to make us more comfortable.”
“She explained everything to us in a way that was easy to understand when purchasing our first home.”
“She explains the contracts well and helped make the process easy … She kept deadlines and ensured I did the same.”
“She stepped in and saved the day when the seller attempted to withhold our earnest money.”
Excerpts from public client reviews, quoted as written. Every matter is different; past results don't guarantee a similar outcome.
Questions clients ask
What if I miss the attorney review deadline?
If no written notice of disapproval is served within the review period, attorney review is waived and the contract stands as written. That is why it helps to have an attorney lined up before your offer is accepted.
Who pays the Chicago transfer tax on a purchase?
In the City of Chicago, the buyer pays the city's $3.75 per $500 portion. The seller pays the CTA portion and the state and county taxes. The transfer tax calculator estimates each share.
Can I close without being in Chicago?
Often, yes. Buyers who are relocating can usually sign through a mail-away closing arranged with the title company and lender.