Laiss & Associates

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Laiss Law

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We offer competitive flat rates on all our services and strive to help you reach your legal goals within your budget. 

Services for seller(s):

  1. Contract review to ensure all terms are within guidelines of HUD (Department of Housing and Urban Development). If needed, the necessary changes will be made to comply with HUD. This will help avoid any last minutes issues with the lender issuing a final loan approval for the Buyer.
  2. Prepare and review letters to negotiate and establish final terms of the contract during the attorney review period and upon completion of the home inspection.
  3. Order title search on the property, prepare title commitment and provide a copy to the Buyer’s Attorney and Lender/Mortgage Broker.
  4. Should any “clouds” appear on title, Seller’s Attorney will trouble shoot these items so that a “clear” title can be provided to the required parties.
  5. Order water certification. This is required by the title company and must be provided at the time of closing.
  6. Order a payoff on any outstanding loans on the property. The funds needed to pay off the loan will then be sent via over night mail service the day of the closing to the appropriate party.
  7. Cooperate with the Buyer’s lender to provide any documentation necessary in order to expedite the Buyers final loan approval. This includes but is not limited to a copy the sales contract, declarations & by-laws, title commitment, condominium insurance certificate, etc.
  8. Preparation of all the necessary legal documents which include the Bill of Sale, ALTA Statement, Affidavit of Title, Power of Attorney, 1099 Statement, Warranty Deed and Closing Statement.
  9. Obtain the City of Chicago transfer stamp which is required in order for the Warranty Deed to be recorded, which is the document of record that legally transfers ownership from the Seller to the Buyer.
  10. Schedule the closing date, time and location with the title company. Provide email notification to all parties of the closing date, time and location.
  11. Attend closing to finalize the transaction between the parties, resolve any remaining unresolved contract issues, review and sign “Settlement Statement” on Sellers behalf.

Condominium or Townhome - Additional Services provided:

  1. Order 22.1 Disclosure, financial, meeting minutes and paid assessment letter from the

Association/Management Company.
*These documents are required by law to be provided to the Purchaser pursuant to the Illinois Property Condominium Act.

  1. Obtain sales package (if applicable) from Association/Management Company and distribute accordingly amongst the necessary parties.
  2. Obtain a copy of the condominium certificate of insurance and provide to Buyer’s lender, as this is required for all loan approvals.
  3. Single Family Home, Towhhome or Multi Dwelling Building- Additional Services provided Order and provide Zoning Certification.
  4. Order and provide Residential Boundary Survey.
  5. Order and provide Building Registration (only applicable to buildings with 5 or more units).
  • There are tasks and/or issues that may arise during the time you are under contract that fall outside the scope of the items reflected above. These issues will be addressed and are covered under the fee you were quoted. Should any issues develop after the time of closing that require an Attorney’s assistance, you may be subject to an additional charge. 

Services for purchaser(s):

  1. Contract review to ensure all terms are within guidelines of HUD (housing and urban development). If needed, the necessary changes will be made to comply with HUD. This will help avoid any last minutes issues with the lender issuing a final loan approval for the Buyer.
  2. Prepare and review letters to negotiate and establish final terms of the contract during the attorney review period and upon completion of the home inspection.
  3. Request and review all association condominium documents required to be provided to Buyers pursuant to the Illinois Condominium Property Act. These documents include the following: declarations, by-laws, 22.1 disclosure, financials, meeting minutes.
  4. Review title commitment provided by Seller’s Attorney to ensure Buyer will receive a “clear” title policy at closing.
  5. Communicate with Buyer’s lender (if applicable) to check on loan approval status. If Buyers loan approval is not yet “unconditional”, the financing contingency will be extended subject to any outstanding conditions needed to be met before an “unconditional” approval letter can be provided by Buyers lender.
  6. Cooperate with the Buyer’s lender (if applicable) to provide any documentation necessary in order to expedite the Buyers final loan approval. This includes but is not limited to a copy the sales contract, declarations & by-laws, title commitment, condominium insurance certificate, etc.
  7. At Buyers request, an estimate of the closing costs and dollar amount needed for closing shall be provided.
  8. Coordinate the closing date, time and location details with the Seller’s Attorney. Once this information is finalized, notification of the closing details will be provide via email to the Buyer, lender, and real estate agent.
  9. Attend closing to finalize the transaction between the parties. All documents provided by the lender will be reviewed at the time of closing with the Buyer along with the closing figures provided on the “Settlement Statement” prepared by the closing title company.
  • There are tasks and/or issues that may arise during the time you are under contract that fall outside the scope of the items reflected above. These issues will be addressed and are covered under the fee you were quoted. Should any issues develop after the time of closing that require an Attorney’s assistance, you may be subject to an additional charge. 

Book an appointment

Use the form below to tell us about your legal inquiry, and we’ll call you back to schedule an appointment. Please be as detailed as possible, we recommend that you detail the services you are looking for, what you would like to achieve and one of our attorneys will call you immediately. Ours Attorneys are also available during business hours at (773) 755-5600.


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Please do not include confidential or sensitive information in your message. In the event that we are representing a party with opposing interests to your own, we may have a duty to disclose any information you provide to our client.
 

➤ Location

Law Office of Michelle A. Laiss
1530 W. Fullerton Chicago, IL 60614

 

Office Hours

Monday - Friday
9AM - 5PM
 

☎ Contact

(773) 755-5600

mlaiss@mlaisslaw.com