Proposed Settlement in DOJ Case Against National Association of Realtors

Several weeks ago, the United States Department of Justice filed a complaint against the National Association of Realtors for alleged anticompetitive acts. In addition to filing the complaint, the DOJ proposed a Final Judgement or settlement for the case. It is unclear if settlement in this case will affect the outcome of a lawsuit filedContinue reading “Proposed Settlement in DOJ Case Against National Association of Realtors”

The Case Against the National Association of Realtors

Several weeks ago, the National Association of Realtors along with four other major brokerages found themselves in a class action lawsuit allowed to proceed as ruled by a federal judge in Illinois. The lawsuit, Moehrl v. National Association of Realtors, filed by several homeowners alleges unfair and anticompetitive practices on the part of the brokeragesContinue reading “The Case Against the National Association of Realtors”

A Binding Contract

Thousands of real estate transactions take place throughout Illinois each year. Typically, a buyer through his or her real estate agent submit an offer to purchase a property and a seller accepts with a signature forming a binding contract. In some instances, the party names listed on the contract may be inaccurate. Perhaps the sellerContinue reading “A Binding Contract”

Judge rules that Pritzker can block evictions during pandemic

Judge John C. Anderson joined other judges who have upheld Pritzker’s authority to govern the State of Illinois through the COVID-19 pandemic by recently ruling in favor of Pritzker’s eviction moratorium during the pandemic regardless of the economic devastation caused to landlords. The lawsuit was brought on my landlords in the Chicago suburbs and RockfordContinue reading “Judge rules that Pritzker can block evictions during pandemic”

The Arrival of the New (7.0) Multi-Board Residential Real Estate Contract

A new base, real estate contract began circulation at the start of 2019. It took over 100 hours of review and debate to ultimately get to an end product that changed one of the most widely used contracts in Illinois. If you will be involved in a real estate transaction this year, you will mostContinue reading “The Arrival of the New (7.0) Multi-Board Residential Real Estate Contract”

What is Title Insurance and When is it Useful?

If you have purchased or sold real estate, you have likely heard about title insurance. In Illinois, the seller of real estate is customarily responsible for purchasing and delivering a title insurance policy to the buyer. This specific form of insurance involves a policy specially designated for the benefit of the future owner, and sometimesContinue reading “What is Title Insurance and When is it Useful?”

2019 Resolutions

We have now concluded the third week of the new year. You have probably made a list of resolutions focusing on various ways to improve your outlook in 2019. As the holiday season fades away and we get back to our normal routines, have you considered ways you may improve your life this year thatContinue reading “2019 Resolutions”

What to Know Before Buying Real Estate “As Is”

The law permits the transfer of property, including real estate in the condition in which it exists (often referred to “as is”).  All buyers should be aware of what this term means, and its implications.  Under the most commonly used Real Estate Purchase Contracts1 note the following: Date of Acceptance-The condition of the property isContinue reading “What to Know Before Buying Real Estate “As Is””

Expenses to Consider When Upgrading Your Home

For many, homeownership often includes the desire to eventually purchase a larger dream home. Whether you are thinking about upgrading to gain more room for yourself or a growing family, it is important to consider all increases, not just square feet. Taxes and insurance – Property taxes are based upon the value of the homeContinue reading “Expenses to Consider When Upgrading Your Home”