When transferring a property title, even small mistakes can cause major legal and financial headaches down the road. Here are some of the most common Illinois real estate transfer mistakes to avoid under Illinois law and how a lawyer can help.
Signing Before Final Walkthrough
Do not sign final closing documents until completing a final property walkthrough to ensure no changes or new damage has occurred. It is tempting to sign closing papers early to get one step closer to moving in, but this risks major unnoticed problems.
Sellers could cover up or fail to disclose issues like roof leaks, foundation cracks, faulty wiring, or plumbing that arise at the last minute. Signing too early leaves you legally bound without recourse. Always insist on a final walkthrough within 24 hours of closing to check the property thoroughly before signing.
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