Real Estate Law in Illinois

Real estate law in Creve Coeur covers almost everything involved in the sale and use of land.

The massive volume of laws governing real estate in Creve Coeur might seem overwhelming to the uninitiated. Indeed, they can get very complicated, especially when issues about title defects or construction disputes are involved.

Accordingly, it's a good idea to learn some of the basics of Creve Coeur's real estate laws.

Having at least some knowledge of real estate law will be to your advantage in essentially any real estate transaction. Knowing the law can give you a bargaining advantage and prevent you from being saddled with obligations that you don't have to assume.

Common Real Estate Law Issues in Creve Coeur

Financing: The majority of people in Creve Coeur can't afford to make a major real estate purchase by paying the entire purchase price up front. Most individuals and small businesses, therefore, use a mortgage to make real estate purchases. A mortgage is a loan given for the purpose of buying a piece of property, with the bank obtaining a security interest in that property until the loan and interest are paid off.

Zoning: Zoning regulations govern what types of structures are allowed on various parcels, based on their location in a municipality. For example, some areas in a city might be zoned only for residential use. Another area might authorize industrial use. These rules are meant to keep property values up, and promote harmony among neighbors by preventing conflicts.

Duty to Disclose: sellers of real estate, especially houses and other residential property, are legally bound to tell the buyer about any defects in the property that the seller knows about, and that the buyer couldn't easily discover on his own (mold or termite problems are frequent examples). If the seller fails to make such disclosures, he or she could be liable for any harm the defect causes to the buyer, as well as the cost of repairing it. If the seller intentionally conceals or lies about the defect, he or she might also face punitive damages.

Implied Warranties: Every lease of a residential unit in Creve Coeur carries with it an implicit promise by the owner that the unit will meet some basic minimum standards for human habitability. There are many factors that go into determining if an unit is "habitable," but there are a few essentials, and they include running water, heat, electricity, and adequate shelter from the elements.

Can a Creve Coeur Real Estate Lawyer Help?

These issues, along with many others, can sometimes be fairly convoluted. Therefore, you should never hesitate to consult with a Creve Coeur real estate attorney if you have any questions.