What to Expect During a Real Estate Closing (And How an Attorney Helps)

Buying or selling a home is one of the most significant financial decisions you'll ever make. And while the final step — the real estate closing — may seem like a formality, it's where everything becomes legally binding. One mistake can cost thousands. That’s why having a real estate attorney in Chicago, IL, is not just smart — it’s essential.

At Wendy Calvert Law Office, P.C., we guide buyers, sellers, and investors through every stage of the closing process with confidence and clarity. Here’s what you can expect during your real estate closing — and how we make sure your interests are protected every step of the way.

 

🏡 What Is a Real Estate Closing?

The closing (also known as settlement) is the final step in a real estate transaction, where property ownership officially transfers from seller to buyer. It typically involves signing legal documents, transferring funds, and recording the deed.

In Illinois — including Chicago — an attorney is often a vital part of the closing process, especially during the critical attorney review period.

📝 Step-by-Step Guide to the Real Estate Closing Process

1. Contract Execution

Once buyer and seller agree on price and terms, both parties sign the Purchase and Sale Agreement.

🔍 How We Help: We review the contract to ensure fair terms, add protective clauses, and negotiate necessary changes during the attorney review period (usually 5 business days).

2. Attorney Review & Modifications

During the attorney review period (mandated in Illinois), your real estate lawyer can propose changes or cancel the contract without penalty.

✅ Wendy Calvert Law Office Advantage: We use this period to negotiate inspection issues, clarify deadlines, and safeguard your legal interests — whether you're buying a condo in Lincoln Park or selling a home in Hyde Park.

3. Title Search and Insurance

A title company conducts a title search to ensure the seller has a clear legal right to transfer ownership. They’ll look for:

• Liens or unpaid taxes

• Boundary issues

• Ownership disputes

⚖️ Our Role: We review the title commitment to catch and resolve any red flags before they delay closing. If needed, we negotiate with the title company or lender to clear title defects.

4. Home Inspection and Contingencies

Buyers typically conduct a professional inspection and may request repairs or credits based on findings.

🛠️ Legal Backup: We help negotiate inspection-related changes and ensure that contingencies are handled properly in writing.

5. Preparing for Closing Day

Before closing, parties finalize mortgage approvals, insurance, and any final walkthroughs.

💼 Behind the Scenes: We work with the lender, title company, and other parties to coordinate loan documents, HUD-1 settlement statements, and any closing disclosures — ensuring all numbers and terms are accurate.

6. Closing Day

On closing day:

• Buyers and sellers sign final documents.

• Funds are exchanged.

• The deed is recorded with the Cook County Recorder of Deeds.

• Keys are handed over!

✍️ At the Table: A Chicago real estate closing attorney from Wendy Calvert Law Office, P.C. is present to explain documents, ensure your rights are protected, and handle any last-minute issues.

7. Post-Closing Support

After closing, we ensure the transaction is properly recorded, and all post-closing matters (e.g., escrows, tax prorations) are resolved.

💼 Why Work With Wendy Calvert Law Office, P.C.?

At Wendy Calvert Law Office, P.C., we’re proud to serve buyers, sellers, and real estate professionals throughout Chicago and Cook County. Whether you're buying your first condo in the West Loop or selling a multi-unit building in Bronzeville, we offer:

✅ Experienced legal guidance at every stage
✅ Personalized contract reviews and negotiation
✅ Title issue resolution and insurance support
✅ Seamless coordination with lenders and agents
✅ Peace of mind from contract to keys

📞 Ready for a Smooth Closing in Chicago?

Don’t go to the closing table without a real estate lawyer who’s in your corner.
Let Wendy Calvert Law Office, P.C. be your trusted legal advocate.

📍 Serving Chicago, IL and surrounding communities