Buying or selling a home in Illinois can be one of the most important financial transactions of your life. While the process is exciting, it also involves a series of complex legal and financial steps that must be carefully managed. One key player in ensuring a successful transaction is the escrow attorney. At Daniel G. Berry, Attorney at Law, we assist the Chicago community in navigating the escrow and closing process to help ensure that everything runs smoothly.

What Is an Escrow Attorney?

An escrow attorney acts as a neutral third party to hold funds, documents, and instructions until all conditions of a real estate transaction are met. This ensures that neither the buyer nor the seller is at risk of losing money or property if the other party fails to meet their obligations. In Illinois, attorneys play a central role in real estate closings, making the escrow attorney essential to the process.

Key Responsibilities of an Escrow Attorney

1. Managing Escrow Funds – The escrow attorney securely holds earnest money and other funds until the closing is finalized.
2. Reviewing Contracts – All agreements and closing documents are carefully reviewed to ensure they comply with Illinois law and protect the client’s interests.
3. Title Examination – The attorney helps confirm that the property title is clear of liens, disputes, or ownership issues that could affect the sale.
4. Preparing Closing Documents – Deeds, settlement statements, and loan documents are properly drafted and executed.
5. Coordinating the Closing – The escrow attorney works with lenders, title companies, buyers, and sellers to make sure everyone fulfills their obligations.

Why an Escrow Attorney Matters in Illinois

Real estate closings in Illinois are attorney-driven, which means legal guidance is not just helpful but often required. Without an attorney, a buyer or seller may overlook important details that can lead to disputes, financial loss, or delays. Having an escrow attorney ensures that funds and documents are properly handled and that the transaction complies with all legal requirements.

How Daniel G. Berry, Attorney at Law Can Help

Our firm provides guidance to clients throughout Chicago in real estate transactions. We are committed to protecting your investment, preventing potential issues, and helping you move forward with peace of mind.