All Forum Posts by: Vincent Incopero

@Steve S., I was an Underwriter with Chicago Title, if you have questions, I probably have an/the answer

I'm happy to assist. Feel free to contact me at your convenience. 

Thanks for the mention Chris T

Morris Engineering out of Lisle- Anne Garza or Danny Jender - Just Google them

You need to file a motion to intervene into the case, among other things, to make this happen.  Feel free to contact me if you have specific questions.  This is one of the services my office provides for our investor clients. 

@Robert Leach comes to mind.  He has helped several of my clients and his work is stellar.  I have personal knowledge as the inspection reports that have come back post rehab have been extremely and consistently clear/positive. 

PM me, I work with several. 

BOTTOM LINE: If the property is not going to be delivered in the condition called for under the contract (broom swept, cleared of personal property except fixtures) OR in some lesser, albeit overall acceptable condition, at the time of the walk through: 

1. funds need to be held back OR

2. repair credits need flow to the Buyer on the Master Statement.  

Acquiescence is acceptance, that's not a case worth fighting or one that any sensible lawyer wants to take as the results obtained on behalf of the client will likely fall short of the legal costs expended obtain the same.   

AT THE END OF THE DAY, THE BUYER HAS THE MOST LEVERAGE IN A SALE AS THEY HOLD THE PURSE (AND THE SWORD).  NO PURSE, NO SALE; NOT ACCEPTABLE, SELLER GETS THE SWORD! 

Melissa, Zach hit the nail dead on the head. Illinois is an attorney state, attorney's play a central role in the transaction, the title companies merely provide the space for the closing, handle the disbursement of funds and issue a policy of insurance. If you are looking for an experienced real estate attorney that works with investors, feel free to contact me at your convenience. I'm happy to answer any questions you may have and would love to be of assistance to you and your clients. Prior to going out into private practice, I was an underwriter with Chicago Title in the loop. I've been involved in more than a few thousand transactions. 

@Felix Z. If and when the property goes under contract, a competent real estate attorney would request that as a condition to the sale the property be certified as a 3 unit by the City of Chicago.  This way if it comes back as a 2 unit, you can back out or renegotiate the terms of the sale (price modification).

@Iva Robinson feel free to contact me. You can transfer the property from the master to the series by way of a deed. You will probably need an attorney to assist and I would be happy to assist.