Main Office:

Countryside Suites

1214 W. Northwest Hwy.

Suite H

Palatine, Illinois 60067


LOCATIONS


Mundelein Professional Building 

510 N. Lake Street 

Suite 206 

Mundelein, Illinois 60060 


Contact Numbers:

Office: (847) 461-9373

Fax:    (847) 388-4832

E-mail: Jzinevich@sbcglobal.net 


PRACTICE AREAS  


Call now for a FREE consultation:     (847) 461-9373


FREE CONSULTATION REQUEST

PLEASE COMPLETE THE FORM BELOW

OR CALL US NOW AT 847-461-9373​



    Jolanta A. Zinevich, LLC
           
Attorney at Law ​​​




.

































REAL ESTATE LAW


Let Attorney Jolanta A. Zinevich represent you at your Residential Real Estate Closings

for as little as: 

$450.00 for Sellers 

$500.00 for Buyers

 Price based on typical transaction. 


After months of looking for the right home, qualifying for a mortgage and saving for your down payment, you have finally made it to the final step – the Real Estate Closing! The Real Estate Closing Process deals with documents that can be very complicated therefore it is essential that you hire a Real Estate Attorney to guide you through the process.  Jolanta A. Zinevich & Assoc. will review your Purchase Contract and ensure that your Closing Documents do not have errors. We will also ensure that the title of the property you are purchasing is free and clear of any loans or encumbrances. Scheduling date – Here at Jolanta A. Zinevich & Assoc., we value your time and living situation. Consequently, we try to schedule Real Estates Closings taking into account your particular circumstances, such as your work schedule. Our main objective is to make your Real Estate Closing a less stressful experience for you and to protect your interests. Our firm serves clients in Cook County, Lake County, McHenry County and DuPage County, the Northwest suburbs of Chicago, and Northern Illinois.

FAQ


Do I need an attorney?


Yes. Although  there is no requirement to hire an Attorney to represent you during your Closing Process,

                      I strongly recommend that you retain an Attorney. The Process of purchasing a home

                      appears simple and routine, however, there are many issues that can come up which can

                      be negated if you have experienced legal representation to protect your interests. If

                      mistakes occur the cost of correcting these errors sill most probably outweigh, the cost of

                      hiring an Attorney to represent you initially. 


                        Should my Attorney review the Contract before I sign it?


                        Most Realtors utilize a Standard Contract which contains a provision allowing each

                        party an Attorney Review Period. This provision allows the parties to enter into a

                        Contract while allowing the parties Attorneys time to review, modify or disapprove the

                        contract within a certain period of time. We always recommend that an Attorney review

                        any Contract before you sign it. If you plan on executing the Contract prior to having

                        your Attorney review it, make sure it contains an Attorney Review Period clause so that                         your Attorney has time to review, modify, or disapprove it within a specific period of                             time after the Contract has been signed. 


How much Earnest Money should I put down?


 The range typically is between 1 to 4 percent. It is a way for a Buyer to who the Seller                      that he/she is a serious Buyer. The Seller will want as much as possible while you want to put own as little as possible. Based on such there can be a little negotiation involved as to the amount. In most cases the higher the purchase price the higher the Earnest Money. If your offer is accepted by the Seller and your purchase goes to Closing, the Earnest Money will be put towards your down payment and your closing costs.


Why do I need a financing contingency in my contract if I already have a loan Pre-Approval from my lender?


A Loan Pre-Approval is just that it’s a Pre- Approval. It is not a commitment to loan you the money. It merely shows that you meet the initial general requirements and credit worthiness. Most Contracts have several contingencies that must be met before the Closing can take place. A Financing Contingency gives you an “out” of the Contract in case you are unable to obtain financing.


How much will my closing costs be?


The amount of closing costs you will have to pay will be dependent upon your specific circumstances. However, on average closing costs are 2-5 percent of the Purchase Price. For example, the total closing costs to purchase a $300,000 home could cost anywhere from approximately $3,000 to $12,000 or more. 


       Here is a list of the most common closing costs:


       A fee for running your credit report.

       A loan origination fee, which lenders charge for processing the loan paperwork for you. Check with

              your Lender as to the amount.

       Discount points, which are fees you pay in exchange for a lower interest rate.

       Attorney’s fees.

       Home Inspection Fees

       Pest inspection fee.

       Appraisal fee.

       Survey fee.

       Escrow deposit, which may pay for a couple months' property taxes and private mortgage insurance.

       Title insurance, which protects the lender in case there are problems with the title.

       Title search fees, to perform a search on the title of the property to make sure there aren't things

             such as unpaid mortgages or tax liens on the property. 

       Recording fee, State, County or City Transfer Taxes 


How should we take title to our new home?

Tenants in Common – Ownership of real property by two or more parties. Each party holds an individual, undivided ownership interest in the property. Each party has the right to transfer only his interest. There is no right of survivorship. This when one individual possesses away, her/his share of the property is left to his heirs. If he or she has a Will, the Will will control who will own their interest in the property after their death. If they do not have a Will their interest will be transferred to their heirs as defined by law.

Joint Tenants – Ownership of real property by two or more parties where they hold equal ownership of the property. Upon the death of one of the Joint Tenants the remainder of the property is transferred to the survivors.

Tenants by the entirety – Allows married couples to hold title together as a single entity, only for their principal residence. A major benefit of holding property in this way is that a creditor of only one spouse may not attach or force the sale of the debtor spouses interest in the property; only creditors of the couple may attach or force the sale of the property owned by both spouses. Upon the death of one spouse the surviving spouse will become the sole owner of the property.