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Proposed Settlement in DOJ Case Against National Association of Realtors

Proposed Settlement in DOJ Case Against National Association of Realtors Several weeks ago, the United States Department of Justice filed a complaint against the National Association of Realtors for alleged anticompetitive acts. In addition to filing the complaint, the DOJ proposed a Final Judgement or settlement for the case. It is unclear if settlement in […]

The Case Against the National Association of Realtors

Several weeks ago, the National Association of Realtors along with four other major brokerages found themselves in a class action lawsuit allowed to proceed as ruled by a federal judge in Illinois. The lawsuit, Moehrl v. National Association of Realtors, filed by several homeowners alleges unfair and anticompetitive practices on the part of the brokerages […]

A Binding Contract

Thousands of real estate transactions take place throughout Illinois each year. Typically, a buyer through his or her real estate agent submit an offer to purchase a property and a seller accepts with a signature forming a binding contract. In some instances, the party names listed on the contract may be inaccurate. Perhaps the seller […]

CDC Eviction Moratorium Challenged

The Centers for Disease Control and Prevention implemented a nationwide eviction moratorium on all residential rental units September 4, 2020. As we mentioned previously, we were unaware of the legality, implementation, and effect the order would have. Several days later, the first complaint was filed in Atlanta, Georgia to challenge the CDC’s authority to make […]

Liability Protection – You Have Been Warned

We have recently seen plenty of funny signs emerging during the COVID pandemic about mask wearing. Even before that, some businesses exercised a certain sense of humor when warning customers about potential dangers in store. It begs the question though. Are those signs actually useful? A court ruling proves they just might be. In the […]

Judge rules that Pritzker can block evictions during pandemic

Judge John C. Anderson joined other judges who have upheld Pritzker’s authority to govern the State of Illinois through the COVID-19 pandemic by recently ruling in favor of Pritzker’s eviction moratorium during the pandemic regardless of the economic devastation caused to landlords. The lawsuit was brought on my landlords in the Chicago suburbs and Rockford […]

What is a Mechanic’s Lien?

The purpose of a Mechanic’s Lien is to ensure that contractors and subcontractors who work on a real estate improvement project are paid for the labor, materials, and/or machinery they have provided to that project. The Illinois Mechanics Lien Act (770 ILCS 60/0.01, et seq.) governs Mechanics Liens in Illinois. This Act allows contractors and/or […]

The Arrival of the New (7.0) Multi-Board Residential Real Estate Contract

A new base, real estate contract began circulation at the start of 2019. It took over 100 hours of review and debate to ultimately get to an end product that changed one of the most widely used contracts in Illinois. If you will be involved in a real estate transaction this year, you will most […]

What is Title Insurance and When is it Useful?

If you have purchased or sold real estate, you have likely heard about title insurance. In Illinois, the seller of real estate is customarily responsible for purchasing and delivering a title insurance policy to the buyer. This specific form of insurance involves a policy specially designated for the benefit of the future owner, and sometimes […]

How the Tax Reform Affects Realtors

On December 20th, 2017 one of the largest tax reforms bill in recent decades was passed, which went into effect on December 31, 2017. The implications of this Act will affect realtors, homeowners, future homebuyers and the real estate market. As a Realtor Pass-Through Businesses. Many realty businesses are self-operating and may be classified as […]

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