Category: Real Estate

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.

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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.

Following The Correct Steps When Purchasing A Home

Posted by David Chang on August 5, 2019 with 0 Comment

The time for purchasing a home is becoming evident. The process of buying a home for the first time is exciting, but also unfamiliar and complicated. There are a wide range of things to consider when purchasing a home, which can make the entire process even more stressful.

The following tips will help guide you on the right track when purchasing your first home:

Save for a down payment ahead of time– Saving early for a down payment will prevent you from having to pay higher costs for private mortgage insurance. Utilizing tools like down payment calculators and progress tracking apps will help you layout and achieve a goal amount.

Check and improve your credit– A key factor that contributes to taking out a mortgage loan is your credit. Before beginning the process of purchasing home, check your credit and analyze what is bringing down your credit score. Find opportunities to improve your credit score in order to make the home purchasing process easier.

Have a pre-approval letter– Getting a pre-approval prior to purchasing a home is the perfect way to show a seller that you are serious about making the purchase. A preapproval letter is a confirmation in writing that a lender has analyzed your finances in depth, and states how much the lender is willing to provide to you.

Hire the best fit real estate agent– It is necessary for you to hire a buyer’s agent that will fit your needs. It is important to hire a knowledgeable, focused, attentive real estate agent that you can see yourself being able to cooperate with.

To find the best real estate agent for you or to learn more about purchasing a home, contact Chang Legal today.

How To Make Your House Look The Best Before Listing

Posted by David Chang on July 11, 2019 with 0 Comment

With the best time to put your house on the market in effect, it is essential to have all of your home’s affairs in order. Like other homeowners, you want to maximize the amount of money you’ll receive from selling your house. Here at Chang Legal, we provide you with essential tips to make your home look the best before being put on the market, including the following:

Renovate the small things:

One of the best ways to give your home more value is having maintenance done, such as repairing utlities and also renovating key things including:

Repaint walls in a neutral color tone.
Ensure HVAC system is in order.
Repair any leaky faucets.
Fix window screens and any damaged lining.
Replace light-bulbs.

Declutter:

Before you list your home, it is essential to declutter and clean all areas. In order to sell your home, potential buyers are going to want to tour the entire household, meaning every area needs to seem spacious. Taking a few days to declutter your home will not only up your home’s value, but will also give buyers an incentive to buy for how spacious it is.

Clean Outside:

While the inside of your home is where you’re most focused on for tidying up, the outside is just as important. The outside of your home is the first impression potential buyers will have. It is crucial to spend time ensuring this area is appealing by:

Put out new mulch
Plant flowers
Repair any concrete cracks (get your driveway repaved)
Fix gutters
Trim vegetation.

For more information or any questions about how to make your house look the best before being listed, contact Chang Legal today.

How To Be Prepared To Sell Your Home

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

Once you are thinking about selling your home, it is important to acknowledge all of the details that go into that. Typically many homeowners act too quickly when they are deciding to sell their home, and that often can make them unprepared. At Chang Legal, we want you to be ready when it’s time to sell your home. Follow these tips so you know you’re prepared to sell your home:

Build equity:

Do you know if your home has positive equity? Equity is the difference in market value of the home today compared to the mortgage debt you owe. In today’s market, most homeowners have positive equity, but it still possible for negative equity to occur.

Have money aside for improvements:

To get the most out of selling your home, it is wise to do some home improvements to increase the value of the property. It is essential to pick the areas that will generate the most value.

Be prepared to move:

Many homeowners are eager to sell their home, but then panic when it is time to move out. The attachment to the home with all of the memories made could make it difficult to leave. It is important to prepare yourself for the new memories at your future residence.

To learn more about how you can be prepared to sell your home, contact Chang Legal today.

3-Step Plan For Prospective Homeowners

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

When it becomes time to purchase a home, every prospective homeowner has nerves. It is essential to understand the process of buying a property before completely diving in. While every journey is unique to every homeowner, there are a few principles everyone should follow. Chang Legal is here to provide you with the best guidance with this 3-step plan so you’re on track when it’s time to purchase a home:

Find your ideal home:

The first step in purchasing a property is viewing listings online. There are endless amounts of listing sites that provide you with beautiful homes that are in your price range. With this, you will be able to narrow down the type of property you are going to purchase and get a better idea of where you soon will live.

Be prepared before buying:

It is crucial to be prepared when you are trying to get a mortgage for your new home. To get prepared, it is important to evaluate your credit score, understand how much you can afford, and what type of loans are available to you in your financial situation. To be fully-prepared, it is essential to get pre-approved by a lender, which demonstrates you are financially ready to purchase a property.

Connect with a real estate agent:

To fully understand how your local market is inside and out, connect with a knowledgeable real estate agent. Your real estate agent will provide guidance and support on your journey to find an ideal home.

To learn more about the 3-step plan for new homeowners, contact Chang Legal today.