Showing category "Condominium Law" (Show all posts)

FHA Condominium Approval

Posted by Juan Vaglienty on Wednesday, April 10, 2013, In : Condominium Law 
FHA Condo Approval

Good record keeping by an association can make the FHA approval process a lot smoother.  FHA requires various legal and financial documents from the association.  Missing documents can delay and hamper the approval process.

 


 


 


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REO Condominium Purchases

Posted by Juan Vaglienty on Wednesday, March 30, 2011, In : Condominium Law 
REO Condominium Purchases
by Juan Vaglienty, Esq.

  Buyer beware when purchasing a bank owned condominium unit.  Illinois law allows the new purchaser of a bank owned condo to be responsible for unpaid assessments for a unit up to 6 months worth prior to the foreclosure sale.  A buyer should be ready and aware of this potential liability when purchasing a bank owned condo.  The cost for these unpaid assessments should be considered when purchasing such a unit. 

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What Every Condo Owner Should Know.

Posted by Juan Vaglienty on Wednesday, December 23, 2009, In : Condominium Law 

WHAT EVERY CONDO OWNER SHOULD KNOW

By Juan Vaglienty

 

Whether you purchased your condominium as an investment or as your primary residence you should become familiar with your condominium declaration and the Illinois Condominium Property Act (Act), 765 ILCS 605.  Recently over the past few years, condominium ownership has become very popular among real estate purchasers. Condomi...


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Who is responsible for the repairs in my condominium building?

Posted by Juan Vaglienty on Friday, September 25, 2009, In : Condominium Law 
The answer to who is responsible for repairs in a condominium are typically found in the governing documents of a condominium.  The governing documents of condominium are the Condominium Declaration, By Laws, Covenants and Restrictions and Rules and Regulation. The Illinois Condominium Act fills in any gaps not provided for in these documents.   A properly drafted Condominium Declaration should provide an explanation as to which components are considered to be the responsibility of the associ...
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Attorney


Juan Vaglienty Juan Vaglienty is an Illinois attorney that practices in Real Estate Law, Estate Planning, Landlord Tenant Law. Business Law, Bankruptcy Law, and Family Based Immigration. Mr. Vaglienty is dedicated to providing his clients with efficient and cost effective legal representation. He is also gives back to the community through his various pro bono activities. His office is located in Des Plaines, Illinios which enables him to serve clients in Chicago and the surrounding suburbs with great accessibility. Please visit www.vaglientylaw.com for more information. Juan Vaglienty, Attorney at Law 2500 E. Devon, Suite 250 Des Plaines, IL 60018 Ph: 312-952-6419 Fx: 312-488-1465

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