Out of state buy (Illinois) need some help.

[Nelson Leal]

Hello BP,

I live in Florida and looking to buy a SFH rental in Chicago, IL. I've never purchased in IL before and have some items I need help with. Can anyone assist:

1. I have to buy the property under an entity so need help with forming either IL entity or Florida with foreign entity as well as to go with LLC or S corp type. Process/Costs?

2. Local real estate attorney to assist with contract.  Process/Costs?

3. Local property inspector.  Process/Costs?

4. Whatever anyone else can share I should be getting professional assistance with for transaction of this type. 

Thank you BP for the help. 

[Lumi Ispas]

@Zack Parish , what's customary in one state is not in another. The attorney can extend the attorney review period as long as he needs and as long as the seller's attorney approves. 

The easiest way to have your offer dismissed is to customize it or to come up with unusual terms, especially if you are in a multiple offer situation. There are always ways to get what you want after the offer is approved. When you have a good team on your side of a real estate attorney and broker, you are safe.