Nearly all who buy or sell a home employ a real estate broker. According to the Illinois Licensing Act of 2000, a real estate broker, as a fiduciary, will owe certain duties to a buyer/seller. For those employing a real estate broker, a review of these duties may be beneficial. These duties include: Reasonable Skill…
Archives for January 2014
What Real Estate Purchasers Need To Know: Types of Real Estate Encumbrances
In August, this blog discussed the question which every real estate purchaser needs to ask himself prior to the closing process, “Is title insurance necessary?” As that blog mentioned, title insurance is designed to insure the purchaser against certain defects in the title to the property. Common title defects arise from a seller claiming to…