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Purchasing Foreclosure or REO Property

Gateville Law Firm is a real estate law firm focused on real estate law, residential real estate law, and commercial real estate law.  We assist real estate investors and individuals that acquire and sell real estate in the Naperville, Shorewood, and Yorkville, Illinois areas.  Our team of attorneys and support staff provide high-quality and responsive real estate legal services to real estate investors and real estate purchasers.

Negotiating a bank-owned foreclosure property requires extreme care and caution.  The bank wants to limit their risk and often will not offer title insurance unless the buyer purchases the title insurance policy themselves.  Most real estate investors will conduct a home inspection and review the condition of the property for significant unforeseen risks.

Real estate investors and real estate transactions enable real estate investors to terminate the real estate contract during the attorney review and home inspection period.  In most cases, the bank will not make any repairs or make any allowances except in exceptional circumstances.  Turning on the utilities and weatherizing the property are important to understand whether the water, gas, and electric work is functioning.

Most first-time home buyers and real estate purchasers do not understand the risks involved in purchasing real estate especially foreclosed property or REO properties.  Our real estate attorneys have offices in the suburbs of Chicago such as Naperville, Shorewood, and Yorkville.  Most real estate transactions involve substantial paperwork and understanding real estate contracts, which are complex and contain legalese are difficult if not impossible for most people.

Purchasing or selling real estate is a significant real estate transaction where one is making a substantial financial decision.  Real estate purchases and sales require experienced real estate lawyers that understand legal contracts, negotiate favorable terms, and navigate smooth real estate closings.

For help purchasing or selling properties in the suburban Chicago area, contact our real estate lawyers at 630-780-1034 or any of our office locations.  Our office numbers are routed towards a central phone answering person.

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Our Address

1905 Marketview Drive Suite 268
Yorkville, Illinois 60560