Year: 2019

Essential Methods On How To Become A Better Real Estate Agent

Posted by David Chang on October 14, 2019 with 0 Comment

As a real estate agent it can be hard to please your clients. From zoning issues to non-negotiable prices, it is difficult to achieve what your client desires. However, Chang Legal is here to help you with the top sales tips for real estate agents, including the following:

Be Helpful

As a real estate agent, your client is going to you first if there is an issue or concern. Always having a positive mindset with the willingness to help others will keep you as the number one resource for help.

Be Persistent, Not Annoying

One thing that clients dislike most is when a real estate agent is overly persistent. However, keeping in constant communication and setting dates to meet is essential to close a sale.

Be Honest

Although you want to be the best you can be for each and every one of your clients, you don’t have all the answers. In real estate, your greatest asset is your reputation, don’t pretend to know the answer to every question. Reassure your client that you will find the answer and take action.

Advertise Your Name/Brand

Nobody knows who you are until you put yourself out there. The sales are not waiting for you. If you invest money into advertising, you will make a profit back once clients know what your company has to offer.

For more information or any questions regarding the top five sales tips for real estate agents, contact Chang Legal today.

The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter. The transmission of the Website, in part or in whole, and/or any communication with us via Internet e-mail through this site does not constitute or create an attorney-client relationship between us and any recipients.

Recognizing Why Location Matters With Your Home Insurance

Posted by David Chang on October 7, 2019 with 0 Comment

In the world of real estate, location is known to have an effect on the market price of houses. Location does not only affect the value of a home, but can also impact the rate of your home insurance.

There is a range of factors that determine your insurance rate, one actually being the risk level of your home. Insurers look at what level of danger your home could be in depending on its location, and the approximate cost it would be to repair your home if a disaster were to occur.

The Influence State Regulations and Construction Costs have on Replacement Costs

Each state has their unique set of regulations that impact the marketplace
Insurers in different states take many things into consideration, like what types of construction materials and methods of construction are needed to rebuild your home
Some states are more expensive to build in than others, which can influence the rate of your homeowner’s insurance

The Impact from Higher Risks of Severe Weather and Natural Disasters

High-risk areas call for higher homeowner’s insurance rates
If you live in a location that is known to have higher risks of tornadoes, hurricanes, or other natural disasters, you will most likely have more expensive rates
Areas with little to no risk of severe weather will have more reasonable rates, due to there being a low likelihood of your house being damaged

How your Accessibility to Protection Makes a Difference

It is beneficial for you to live in a location that is nearby a fire station
Insurers see you as being in better protection if you are located in a neighborhood with a fire station at least a quarter mile away from your home
Not living near a fire station is viewed as not having quick access to protection, and will result in less favorable rates

For more information on why the location matters with your home insurance, contact Chang Legal today.

Recognizing The Disputes Surrounding Boundary and Property Lines

Posted by David Chang on September 30, 2019 with 0 Comment

When moving into your first home, it is important to have a friendly relationship with your neighbors. In addition, it is essential to have a clear sense of boundary and property lines with your next-door neighbors to prevent the risk of a dispute. The land you own is one of the most valuable things to you, as it is to your neighbor, this is why it is so crucial to establish property lines to avoid heated arguments. It can be very difficult to determine the land you specifically own, it can be a technical error where your deed states you own the land that your neighbor’s deed states they own. Proper communication and understanding the issue together will help solve these problems.

What Are Boundary And Property Lines?

Boundary and property lines are particularly the cut-off lines of the land you own. The county’s tax map defines each parcel of land and what you specifically own. A property line in a residential home can be hard to spot, as the climate could have changed overtime. Determining the property line is generally where your lawn and your neighbor’s lawn meets together, something as little as building a walkway in the wrong area can disrupt this and cause complications.

When Should Legal Assistance Step in?

If you and your neighbor can not solve the dispute regarding the boundary line of the properties, it may be time to contact your real estate attorney and file a lawsuit. However, this may not be a good idea since it may create an awkward tension between you and your neighbor for the years you live next to each other. Generally there are two types of causes of action you have the ability to take when filing a lawsuit concerning the boundary lines of your property and your neighbor’s land, which include:

Ejection: In a lawsuit with the boundary lines of your property, you may sue your neighbor for ejection, or trespassing, where a state judge may order the neighbor to remove him or herself and any possessions from the property. In addition, you may win money damages if your neighbor disrupted the value of your property.

Declaratory Judgement: Declaratory judgement is a process where a state judge determines if you or your neighbor are legally subject to the specific piece of land. This type of lawsuit will not result in any money damages, it is more of a neutral jurist making a determination on the deeds and the legal documents presented with the properties.

For more information and to help you with your boundary and property line dispute, learn more about the support we can offer you by emailing Chang Legal at contactus@changlegal.com or by calling 847-907-497.

Valuable Tips Regarding New Construction

Posted by David Chang on September 24, 2019 with 0 Comment

When searching the market to purchase a home, you are more than likely going to come across new construction properties for sale. These types of homes can either be sold by local builders or national developers. When looking at a new construction home, there are a few factors to consider including the following:

Discounted Home:

A newly constructed home is often under contract with several other homes by the builder. This builder will want to go back to their lender knowing they already have the home sold. In order to do this, the builder may give the first buyer a discounted price on the home to sell it quickly. This will benefit you since you’ll be able to negotiate the price down early in the sales process.

New Construction Homes Sold Before Built:

Often times, these new construction properties are sold before they are even built. This is done by the builder showcasing the same models of the home to potential buyers. For example, the potential buyers may tour a home that has the same layout as the property the builder will construct. This is ideal for many home-buyers because they can request certain changes to accommodate their needs before the home is built.

New Construction Homes Don’t Have Attachment

In the typical process of buying a home, the seller can show signs of their emotional attachment to the property they’re selling. Creating memoirs and selling the house can cause issues when the sales process is occurring. Often times the home-seller overprices the property because they are not ready to let go. On the other hand, new construction homes do not have these issues. The builder is only concerned with the numbers and bases the price of the home on their inventory.

To receive more information about new construction homes, contact Chang Legal today.

How To Promptly Close A Lease

Posted by David Chang on September 17, 2019 with 0 Comment

As people grow up, they are more than likely not going to stay in the same house their whole life. When an individual rents a house or apartment, they typically do not stay their whole life. Despite the fact that renting is a temporary aspect, some people want to get out of their lease earlier than expected, whether it is the tenant or landlord. Chang Legal is here to help you understand how you can get out of a lease earlier than expected.

Fixed Term Lease (1 Year)

Fixed term leases are generally one year long and both sides must agree to stay true to the lease the entire term. However, there are some exceptions to this lease such as a tenant violating the regulations of the lease, which gives the landlord the right to end the term early. On the other hand, if a landlord fails to meet the terms in the lease, such as not being able to provide livable conditions, then a tenant may end the lease legally.

Monthly Lease (30 Days)

A monthly rental agreement is a bit more straightforward than a fixed term lease, a tenant or landlord has the ability to be in a notice of leaving 30 days in advance, which means a tenant would still have to pay for the extra month they are spending in the rental.

Contact Your Real Estate Agent

Dealing with ending a residential lease can draw up some complications, this is why it is essential to speak with your real estate agent to see what can be done in your situation. Consulting with Chang Legal will benefit you and your situation, since we have been practicing real estate law for over 15 years.

For further information or to learn more about how we can support you, contact Chang Legal today. support you, contact Chang Legal today.

Understanding How To Buy And Sell Short Sales

Posted by David Chang on September 10, 2019 with 0 Comment

Selling Short Sale Property

After 2008 when real estate values plummeted, many American homeowners found themselves in a difficult position: they owed more on their mortgage than their house was worth, commonly known as “being upside down in one’s mortgage.” While housing prices are on the rise, some Americans are still faced with this precarious situation. There are three basic ways to deal with being upside down in a mortgage:

Stay in your home until the market value is at or above the amount you owe on your mortgage. Unfortunately for many people, it isn’t a realistic solution. If a homeowner finds they can’t afford their mortgage or they need to relocate and sell quickly, they will need to find other options.
Go into foreclosure. But foreclosure can have serious repercussions. While sometimes foreclosure is the only option, there is a better option available.
Investigate whether or not you qualify for a short sale. The best way to do this is to contact a real estate attorney who is veteran in the short sale process, like our real estate attorneys at Chang Legal.

Buying Short Sale Property

Short sales are becoming harder and harder to find in the Chicago area. A recent article in Crain’s Business Chicago reports that, in our area, short sales peaked at 18.6% of the market in January of 2012. This summer, short sales represented only 2.7% of home sales in Chicagoland.

But that doesn’t mean you should ignore the short sale housing market if you are looking to buy. Short sale homes are generally sold at or below market value, so buyers often get a good deal on the property. However, buying a short sale property can be far more complicated than buying a non-distressed property and having an experienced real estate attorney can make all the difference.

Chang Legal Can Help Short Sale Sellers & Buyers

That’s where Chang Legal comes in. We have attorneys who are experienced in all areas of real estate law and know how to navigate the complex paths of selling or buying a short sale property.

To learn more about the support we can offer you in regards to short sales, contact Chang Legal today.

The Do’s and Dont’s Of Purchasing A Residential Property

Posted by David Chang on September 2, 2019 with 0 Comment

For the majority of people, buying a home will be their number one investment in life, totaling to be their largest purchase. The process of purchasing a residential real estate space can be difficult to manage, that is why Chang Legal is here to give you the hidden secrets that will help you purchase a home.

Do check out the neighborhood

Once you find a home that seems fit for you, it is important to get a personal survey of the neighborhood. There have been cases where individuals do not purchase a property because of the atmosphere of the surrounding neighborhood. Check out the community at all hours of the day to see if it is a true fit for you.

Do avoid border disputes

Before purchasing a potential property, it is essential to get a survey done on the borders of your land. This will prevent border disputes with neighbors and give you precise calculations.

Do hire a home inspector

While this may seem obvious, there are still some homeowners that do not hire a home inspector to ensure everything is in order. This is an essential tactic because if there are any issues with the property, you can use this as a bargaining tool to lower the cost of the home.

Don’t move money around

Most homeowners take out loans to pay over time, which is why it is crucial to keep your credit profile stable. It is essential to not move money around by making large purchases for the 3-6 months prior of taking out a loan. This will show lenders that you have good faith in paying loans back on-time.

Don’t be phased by the costs

Most new homeowners are focused on ensuring the mortgage is paid on-time and typically are forgetful for other costs, such as utilities, taxes, and maintenance expenses.

To learn more about the do’s and dont’s of purchasing a residential property for first time buyers, contact Chang Legal today.

How Can Filing For Bankruptcy Affect You?

Posted by David Chang on August 26, 2019 with 0 Comment

Filing for bankruptcy is an overwhelming undertaking that can be difficult to understand. It is important to be informed of what the process looks like, and what steps can be taken to be successful after restarting your financial life.

Below is a description of each type of bankruptcy:

Chapter 7 bankruptcy: Also known as “liquidation bankruptcy”, Chapter 7 bankruptcy is the process of filing a chapter 7, which requires you to give up all non-exempt assets to your bankruptcy trustee. Your trustee sells your assets and uses the proceeds to pay off your debts. If you are eligible for chapter 7 bankruptcy, liquidating assets will help you rise from the financial crisis you are facing.

Chapter 13 bankruptcy: Also known as “reorganization bankruptcy”, Chapter 13 bankruptcy allows you to keep your property. This is not allowed in Chapter 7 bankruptcy, but with keeping property also comes the requirement of making a repayment plan. Your repayment plan will precisely lay out how you will pay your creditors. Avoiding foreclosure or repossession is usually the primary reason for filing a chapter 13.

Following these main steps will guide you onto a smooth path to financial stability:

Contact a bankruptcy law firm– In order to be provided with accurate and detailed legal support, you should contact a bankruptcy law firm for assistance through the bankruptcy process. You will be guided through the process by your bankruptcy lawyer.

Deciding on which type of bankruptcy you should file for– Your bankruptcy lawyer will assist you in deciding whether you should file for a chapter 7 or chapter 13 bankruptcy. Between these two different types of bankruptcies, one may be more beneficial over another depending on each individual.

Having the best bankruptcy lawyer for you is essential in determining what bankruptcy you should file for.

If you are considering to file for bankruptcy in the Chicagoland Area, Chang Legal will provide you the best legal support, with the assistance of our leading expert legal team. If you want to receive the chance of having a fresh financial life, contact us today.

Understanding The Rules Under Homeowner Associations

Posted by David Chang on August 19, 2019 with 0 Comment

Whether you own a new or single-family housing development, a homeowners association is more than likely in your complex. Homeowners’ associations are becoming more more common and often act as the governing body of the development. For instance, if you purchase a property governed by a homeowner’s associated, you instantly become a member of the HOA through the contract indented in the purchase of the property. Generally, the contracts under HOA state you will obey all of the rules listed, as well as, pay regular expenses.

Rules Under HOA

When purchasing a property governed by a HOA, there are specific rules, or covenants, homeowners must follow. These rules often regulate what you can and cannot do within the boundaries of your home. Most of the HOA rules restrict certain colors you may paint your house, the amount of cars you own and where you park, if you may own a pet, and even if you may rent out your home to others.
It is important for homeowners to review the regulations under the HOA contract before the deal is closed as it will be too late by this time. Adding a contingency to the contract stating that you may review any governmental documents before closing will benefit you in learning the rules of the certain HOA community you are becoming involved with.

Violations Under HOA

It is crucial to follow all of the rules and regulations under your septic HOA contract to ensure you do not receive any penalties. Violations are generally light and can be reversed easily. For instance, if a homeowner brings in a pet in an associated that restricts animals, the homeowner can simply give the pet away to avoid any consequences. However, some HOA communities are stricter when it comes to violations, most requiring the homeowner to pay a fine depending on the severity of the situation.

For more information on homeowners’ associations or to learn more about how we can support you through your real estate issues, contact Chang Legal today.

False Assumptions Regarding Renting

Posted by David Chang on August 12, 2019 with 0 Comment

Often, many visualize renting as a way of losing money. You do not own the property, you are simply staying there for a extended period of time and leaving with money lost. However, renting is not as wasteful as many say. In fact, more people are deciding to rent and the traditional way of renting has changed.

There are several myths surrounding renting, including the following:

You are wasting money:

You may have heard this multiple times throughout your life, that renting is essential throwing your money away. That is not the case. Though you do not get to build up home equity, you get to avoid numerous amounts of expenses including household maintenance, utilities, and other costs.

You cannot get out of a lease:

Many believe that once you sign a long-term lease, you cannot get out of it. This is not true. You can break your lease in a few different ways such as asking your landlord if you can sublet the property. If this does not work, then talking with the property management company will make things easier. Getting out of a lease may be difficult, but is definitely attainable.

Negotiation is off the table:

One of the most common myths regarding renting is that you cannot negotiate with the landlord. You, as a tenant, have power. It is essential to read the lease fully to understand everything. If you would like the terms adjusted, simply ask the landlord.

To learn more about the common myths surrounding renting, contact Chang Legal today.