Reasons to Retain Charles W. Siragusa
Charles W. Siragusa will do whatever is needed to accomplish the task for which you hired him – to close on the purchase of your property and to make sure that you pay only the amount that you are obligated to pay under the law and the purchase contract.
Your Home Inspection Contingency
The contract has an “inspection contingency,” which may be in paragraph 14, and which gives you the right to retain a home inspector to inspect ALL portions of the home you intend to buy. You should definitely retain a licensed home inspector to inspect ALL portions of the home you intend to buy. The home inspector will inspect everything inside and outside the home, from the roof to the basement, and all of the systems in the home—plumbing, electrical, mechanical and heating/air conditioning. No home is perfect, so the inspector WILL find repairs or defects in the home and furnish you a written report with his findings. But, the inspector will NOT discuss his findings with the seller or his attorney. And, your realtor will NOT, and should NOT, represent you in any negotiations with the seller’s attorney regarding any such repairs or defects. As a result, you MUST have an attorney negotiate with the seller’s attorney to have any such repairs or defects corrected before the closing, or to obtain a reduction in the purchase price of the home. You need Charles W. Siragusa to vigorously represent you in negotiations with the seller’s attorney to cause the repairs or defects in the home to be corrected, or, to obtain the maximum reduction possible in the amount you are paying for your home.
Your Attorney Contract Modification Contingency
Your realtor will have you sign a so-called “standard form contract” for the purchase of your home. But, the so-called “standard form contract” was written to protect the seller. The contract has a provision, generally in paragraph 13, which allows you to retain an attorney to request modifications in the contract. You MUST retain an attorney to review with you the changes that should be made to the contract to protect YOU in the purchase of your home. Your realtor will NOT, and should NOT, negotiate contract modification issues with the seller’s attorney. You need Charles W. Siragusa to suggest the changes that should be made to the contract to protect YOU in the purchase of your home.
Your Inspection Contingency
The contract gives you the right to retain a licensed home inspector to inspect all portions of the home you intend to buy, generally within five or seven business days after the “acceptance” date. This is an important right that you should definitely exercise by retaining a qualified home inspector to inspect ALL parts of the home you intend to buy. It is also important that the home inspector furnish you his report within the deadline in the, generally five business days after the “acceptance” date. The home inspector WILL find repairs or defects in the home you intend to buy. It is important that you review this report with an attorney so the attorney can negotiate with the seller’s attorney for the repairs to be made or to obtain a reduction in the purchase price of the home. You need Charles W. Siragusa to persuade the seller’s attorney that the seller should either make the repairs in the home inspector’s report or provide you a significant reduction in the purchase price instead of performing the repairs.
Preventing Any Delay in the Closing Due to Your Mortgage Lender
The time period in the contract for you to obtain a mortgage is frequently not as long as it needs to be for you to obtain a mortgage commitment. You don’t want the closing date to be delayed or postponed because your lender is not ready to disburse its funds on the scheduled closing date. Your lender may not advise you promptly of the documents you need to furnish to your lender or may ask for the same documents twice because it may have misplaced them. You need an attorney who will help you in every way possible to resolve any issues your lender may have which may delay the issuance of your mortgage commitment. You need Charles W. Siragusa to help you obtain the mortgage commitment from your lender on the terms promised by your mortgage lender and on time so that you can close on the scheduled closing date in your contract.
Our fee includes EVERYTHING from beginning to end.
At only $450 – our fee is competitive with other Chicago real estate attorneys.
Closing the Purchase
Charles W. Siragusa will manage the acceptance date, your earnest money deposit, your inspection contingency, your attorney modification contingency, your mortgage contingency, and the final walk through of your home.