Selling a Home in Chicagoland: Frequently Asked Questions
Once you have a buyer, your real estate attorney helps move the transaction from signed contract to closing. Spencer Law represents home sellers throughout Chicago and the surrounding suburbs.
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A real estate attorney handles important legal aspects of an Illinois home sale. Your attorney reviews and negotiates the contract, responds to the buyer's attorney, addresses inspection issues, works through title and municipal requirements, prepares closing documents and represents you through closing.
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Select your attorney when you list your home or as soon as you receive an offer. Once the contract is signed, attorney review and other contractual deadlines may begin quickly, so having your attorney ready can help keep the transaction moving.
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Most residential contracts used in the Chicagoland area provide a limited attorney review period after the contract is accepted. During this period, your attorney reviews the contract, proposes appropriate modifications and responds to modifications requested by the buyer's attorney.
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Not necessarily. Your obligations depend on the inspection provision in your contract and the nature of the issue. Your attorney can help evaluate the buyer's requests and negotiate an appropriate response, which may include agreeing to certain repairs or credits, rejecting certain requests, or reaching another resolution.
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Seller closing costs vary by property and municipality. Common expenses may include real estate brokerage compensation, attorney fees, title charges, transfer taxes, survey costs when applicable, property tax prorations and other amounts required to clear title or complete the transaction.
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Your attorney coordinates the legal side of the sale. This generally includes resolving attorney review and inspection matters, ordering and reviewing title, addressing title issues and municipal requirements, obtaining association documents when applicable, preparing the deed and other seller closing documents, and reviewing the final closing statement.
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Often, no. In many Chicagoland residential sales, the seller can sign the necessary documents before closing and the seller's attorney can attend the closing on the seller's behalf. Your attorney can determine whether this is appropriate for your particular transaction and arrange the necessary documents.
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Spencer Law provides experienced, responsive representation for residential sellers throughout Chicago and the surrounding suburbs. Learn more about how Spencer Law represents home sellers OR contact us to get started.
