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There are few things more irresistible to an attorney than a red pen (or whatever the computer equivalent is). I know this because I am one (an attorney, not a red pen). With a contract or a document in front of an attorney, they may try - but just can’t - to resist the urge to review the document, and: cross-out, mark-up, re-write, copy-paste, and a host of other hyphenated things.
In front of an attorney, that poor document will soon become unrecognizable.
Why am I bringing this up, you ask? Because here is the normal course of residential real estate transactions in Chicago: the brokers negotiate the business terms on behalf of their clients, the buyer and seller sign the form contract, and THEN the attorneys review the contract and negotiate the other terms with the other side during a short “attorney approval period.” Let me repeat that last part: and THEN the attorneys review the contract and negotiate the other terms with the other side during a short “attorney approval period.”
Because most of my clients are savvy and smart folks, their initial inclination is to have their attorney review the contract before they sign it - because that’s what they do with all of their legal documents. Makes sense. But the problem is that the attorney will not be able to resist the urge; they will invariably take out their red pen and make changes to the contract before our mutual client signs it.
If that happens, there is a high likelihood that the deal will go south (TRUTH). That’s because presenting a marked-up contract to the broker representing the other side will end up nowhere; the broker is not qualified to advise the client on legal changes, and they will have to hand it over to their attorney. And before you know it, without a signed contract, another buyer will come along, another property will be found, or some other distraction will occur.
So, even though it’s tough, please listen to me: don’t give the contract to your attorney until I give you the green light. Only then can your attorney run free with their red pen.
Have a great weekend!
Best,
Brad
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The smash-hit comedy "Titanique", in which "the music of Céline Dion makes sweet Canadian love with the film Titanic," is gearing up for a Chicago run as a co-production from Porchlight Music Theatre and Broadway in Chicago, with performances set for the Broadway Playhouse at Water Tower Place this spring. Led by actress Clare Kennedy McLaughlin, who will play the French-Canadian pop diva herself, Chicago's Titanique will retell the fictionalized story of Titanic's sinking from James Cameron’s 1997 Blockbuster, albeit using Dion's famous power ballads to push the plot forward. Featured tunes include “Because You Loved Me,” “All By Myself,” “To Love You More,” “Beauty and the Beast" and two of Dion's most-loved covers, “River Deep, Mountain High” and “I Drove All Night," culminating, of course, in that radio juggernaut “My Heart Will Go On.”
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6 Bed | 4.1 Bath Lakeview
Ideally located in a central walk-to-everything Lakeview location,
this large single-family house has room for everyone and everything.
Offered at $1,450,000
Open House Saturday 12:00 - 2:00
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5 Bed | 5.2 Bath Lincoln Park
Extraordinary home constructed with unparalleled craftsmanship.
Offered at $3,499,000
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3 Bed | 3.1 Bath Gold Coast
Rockstar penthouse triplex in historic Playboy Mansion.
Check out the video here.
Offered at $2,300,000
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3 Bed | 2.1 Bath Lakeview
Distinctive architectural loft-townhouse
designed by Stanley Tigerman.
Sold for $1,390,000
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3 Bed | 2.1 Bath Sheridan Park
Impeccably designed 5-level townhome sold after receiving multiple offers.
Sold for $660,000
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3 Bed | 2 Bath East Lakeview
Beautiful townhouse in walk-to-everything location with parking. Under contract in 1 weekend with multiple offers.
Offered at $615,000
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2 Bed | 2 Bath River North
Beautiful light-filled home with open floorplan
and gourmet kitchen.
Offered at $429,500
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Studio | 1 Bath East Lakeview
Sensational studio in an ideal walk-to-everything location.
Sold for $165,000
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2 Bed | 2 Bath River North
Sweeping skyline views through floor-to-ceiling windows.
Rented at $4,000/month
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3 Bed | 2.2 Bath Gold Coast
Stunning rowhouse designed by
famed architect Larry Booth
To be offered at $1,850,000
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4 Bed | 3.1 Bath East Lakeview
Stunning renovation in
Beaux Arts masterpiece.
To be offered at $1,499,000
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2 Bed | 2.1 Bath Streeterville
Delightful condo with amazing views and large balcony.
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2 Bed | 2 Bath Gold Coast
Charming unit with huge terrace.
To be offered at $399,000
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2 Bed | 2 Bath River North
Prime east-facing gut-renovated
loft with huge terrace.
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3 Bed | 2 Bath Park Ridge
Beautiful split-level single family home with detached 2-car garage.
To be offered at $3,200/month
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2 Bed | 1 Bath East Lakeview
Spacious sun-drenched unit with exposed brick and hardwood floors throughout.
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We have Buyers and Renters looking for their next home.
Could it be yours?
If you or someone you know have something that could work for our clients -
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Buyer #1
ISO: Single family home up to $2.5M in Blaine, Bell, Audubon, Coonley, Burley, or Prescott. Flexible on timing. Prefer move-in ready or light cosmetic work.
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Buyer #2
ISO: Condo with 3+ bedrooms in Bucktown, Wicker Park or Logan Square with outdoor space.
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Buyer #3
ISO: Single family home in northwest Evanston up to $950,000.
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Buyer #4
ISO: Single family home in Northfield up to $2m. Updated with nice yard preferred.
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Tenant #1
ISO: 2-3 bed/2 bath rental in newer cat-friendly building with in-unit W/D & parking in Lakeview, Roscoe Village, North Center, Ravenswood, Andersonville/ Edgewater, Bucktown/Wicker Park/West Town. Up to $3500/month.
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Thinking of Buying or Selling a Home?
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Modern. Vintage. Architectural. Cool.
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And everything in between.
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Answering the question:
"Why use the Brad Lippitz Group to help you purchase your next home?"
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Answering the question:
"Why use the Brad Lippitz Group to help you sell your home?"
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Check out previous "Into the Weekends" here.
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Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.
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