Tuesday, October 14, 2014

Why is my closing in Skokie? Real estate attorneys and the title insurance company

First American Title has an office in this building at 5215 Old Orchard Rd #250, Skokie, IL 60077. All photos from Bob DePalma and Eric Rojas, Brokers, Kale Realty from our closings last week.
A couple weeks ago I represented clients at closings at 10 S LaSalle in Chicago Title's downtown offices and at 4230 W Irving Park Road in the First American Title offices of the Old Irving Park neighborhood.  Last week Bob represented our clients at a closing in Skokie.

How is a closing title company chosen? Why was our Evanston sale closed in Skokie?

Long time real estate attorney Kent Novit offered a brief description of how the title company and it's location for your closing came to be:

"In the Chicago area most attorneys that represent Sellers in regard to residential real estate transactions are affiliated with the title insurance company used. The Seller's attorney does participate in researching the existence of deeds, liens, encumbrances or other items of record that effect the subject real estate. The attorney is compensated by the title company for that research and work provided.

In addition the attorney does share the potential liabilities that might result from the failure to properly note items of record that exist on an examined property. For the transactions that I am involved I use title companies with which I have had positive experiences, allow the transaction to proceed smoothly and that best protect my clients. 

Normally I will attempt to work with all parties involved in a transaction to determine the location of the closing. Generally the location of the closing should be reasonably proximate to the location of the subject real estate. Companies like Chicago Title or First American Title do have a greater number of closing offices located in the Chicago area which may allow the opportunity to close within a few miles of the residence that is being sold."

Our 811 W Chicago closing was held in a nearby Skokie location in part because Kent is affiliated with First American Title and the location was convenient for the buyer and seller parties involved.  Bob and I have attended many northern Chicago closings at the Skokie location as it is sometimes more convenient for buyers and sellers than downtown Chicago.

Attorney Kent Novit and is firm handle real estate transactions and estate planning. They can be reached at:
100 N. LaSalle Suite 1700 Chicago, IL 60602
 PH: 312-332-2407 Fax: 312-332-6452

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