A recent appellate court decision in Illinois emphasizes yet again the need for buyers to include any and all representations and covenants of sellers expressly in the real estate contract – if you expect to be able to rely on them and enforce them against the sellers later. In the case of Siegel Development, LLC … Continue Reading
Real estate purchasers whose contract permits the return of the earnest money deposit if financing cannot be obtained must be extremely careful in how this contingency is worded in the purchase contract, or a purchaser may get an unwelcome surprise, and be forced to forfeit the earnest money when financing cannot be obtained. Typically, when … Continue Reading
