Real estate transactions

Contact us to schedule a free consultation* :

(847) 596-7494

Real Estate Tax Appeals

Since the home mortgage debacle of 2008, Lake County, Illinois real estate values have plummeted a stark 25%, nearly 6% in 2011 alone. Accordingly, many counties and townships have reduced their resident’s property tax assessments. Unfortunately, in many situations, these new property tax assessments have not been reduced sufficiently to accurately reflect the fair market value of the real estate at issue.

This ultimately means one thing: you quite possibly are paying more than your fair share in property taxes and deserve a reduction. The question you must ask yourself is whether or not your assessment was reduced enough as compared to that of your neighbors. Your assessment is designed to allocate the burden of supporting your local schools, municipalities, and parks equally amongst the residents of your township.

Assessment ≠ Appraisal

What is essential to keep in mind is that your assessment is not the same as a private appraisal completed to determine the fair market value of your home for re-finance or other purposes. Assessor methods to determine your property tax assessment are regrettably far more unspecialized, never analyzing your specific property individually. Thus, especially given current market trends, discrepancies concerning your assessment are almost always assured.

If you are interested in appealing your property tax assessment, please feel free to contact us on-line, or call (847) 596-7494 for a free consultation*. We offer a very simple, low-risk payment schedule for property tax appeals. If we don’t get a reduction, you don’t pay. You could see a $500-$2,000 reduction in your property taxes, so please don’t delay!  Note that once notice from your township is received, you will have only 30 days in which to file a formal appeal with the county.

Real Estate Closings

If you are engaged in a real estate transaction, whether it be on the seller side, or buyers, let Tomei Law, a contract agent firm of Chicago Title Insurance Company,  protect your interests. Buying real estate is not as simple as going to the grocery store to buy a can of soup. There are intricate details involved, and infinite ways that can result in a failed transaction. The fact is, in addition to the problems you can encounter, real estate transactions are a long and stressful process. For a surprisingly reasonable fee, you can have peace of mind knowing that you have Tomei Law by your side to guide you.

Buyer Representation

Buying a home is a major life experience, and the largest financial investment most people will make. Involving a skilled and dedicated real estate attorney early in the process helps ensure smooth and properly handled transactions, avoiding future litigation over ownership, liens, easements, and more. At Tomei Law, we provide legal representation to safeguard against complications associated with untidy transactions. We provide the following services to a home buyer that employs our services:

  • Real estate contract review;
  • Advising you on any unexpected contract terms; and
  • Providing any documentation and backup information needed to complete the transaction.
  • Title examinations to determine whether the seller is the legal owner of the property; to uncover unpaid mortgages, judgments, or liens that must be satisfied; to identify restrictions, easements, or other encumbrances; and to determine the status of property taxes.
  • Examination and explanation of loan package materials on day of closing.

At this office, our work is thorough, meticulous, and principled. Our proactive approach identifies and solves your real estate closing problems before they threaten the conclusion of the transaction. This office handles each case with the personal attention it deserves.

Tomei Law’s goal is to complete smooth, win-win transactions that serve the interests of all parties. For effective and dedicated legal representation in a real estate closing matter, we invite you to contact us on-line or call (847) 596-7494 today.

Seller Representation

Real estate is a major investment. To maximize the return of that investment, you should seek out quality seller representation at your closing. At Tomei Law, we represent sellers of commercial, residential and investment properties throughout Lake County and its collar counties. Representing real estate sellers at closings involves reviewing the work of the closing agent. Attorney Robert J. Tomei Jr. will ensure your interests are protected. In seller representation, our job is to serve as your liaison to the closing agent. At Tomei Law, we prepare all seller’s documents as part of your legal representation.

This office’s services involve:

  • Survey examinations, when provided, to assure no encroachments on the property;
  • Preparation and examination of all documents necessary to complete the transaction, including the deed, closing statement, mortgage, and other documentation required by the lender;
  • Conduct the closing on behalf of the lender, and make sure that buyer, seller, and lender are protected;
  • File the necessary documents in probate court, correcting errors that arise at closing;
  • Conduct all post-closing follow-up required by the lender.

We also secure payoff letters and ensure the clearing of liens and judgments. No detail is too small, and we will ensure thorough development and review of all documentation. We strive to ensure that your sale goes through smoothly and without any unpleasant surprises. At the closing itself, we will represent you and identify any last-minute issues that may require attention. Our goal is an efficient and successful closing for you.

Tomei Law also provides representation throughout your real estate transaction. From drafting the contracts to closing to 1031 tax-free exchanges, we can represent you throughout the entire process of selling real estate. We handle contract negotiations to prevent unfavorable terms and maximize your value. If you are considering purchasing another home, we can help you structure your sale to take advantage of the 1031 exchange rules to minimize capital gains taxes. We stay in constant communication with you in order to ensure your best interests are represented.

For more information or to schedule an appointment regarding seller representation, contact us on-line or call (847) 596-7494 today.

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Contact Details

Tomei Law, P.C.

223 N IL. Rt. 21, Ste. 14
Gurnee, IL 60031

PHONE NUMBER: (847) 596-7494
FAX NUMBER: (847) 589-2263