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A Guide to Selling a Home in Illinois

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A Guide to Selling a Home in Illinois

What Sellers Need to Know about Transaction Fees In Illinois, sellers of residential real estate, including single family houses, townhomes, and condos, are responsible for paying certain transaction fees. The transaction fees are typically deducted from the proceeds that the seller receives from the sale. Since the transaction fees impact the bottom line that you will receive at closing, it is important to understand how transaction fees come into play so that there are no surprises at … [Read more...]

What You Must Disclose When Selling an Illinois Home

Under Illinois law, there are certain disclosures that must be provided to potential buyers when selling a home. These disclosures reveal to prospective buyers the information that owners know about the physical condition of the property. Failure to deliver the required disclosures or submitting false or incomplete disclosures can result in the termination of a purchase contract. Sellers can sometimes be held liable for damages, attorney's fees and court costs as well. Who Does the Illinois … [Read more...]

Selling your home in the winter

People are often reluctant to put their home on the market with winter approaching. The reality is that marriages and births, promotions and job transfers happen year-round, so people are looking for houses during all seasons. Selling a home during winter can actually work to the seller’s advantage, since potential buyers are usually relocating out of necessity, creating greater urgency. Regardless of the season, the key to selling any home is creating appeal. Adding thoughtful touches … [Read more...]

Selling your home? Change the interior wall colors

People selling their homes in Illinois should heed the advice of professionals when it comes to setting a price and clearing out the clutter. According to Consumer Reports, painting interior rooms is also a key part of moving the property quickly. The organization reports that investing a little bit of money can generate up to a 3 percent return. There are several considerations for those ready to pick up a brush. As any Elk Grove Village real estate attorney knows, the color and type of … [Read more...]

Selling a home: Is it a good idea to renovate before listing?

When homeowners go to sell their home with the assistance of a real estate attorney in Chicago, they strive to sell their house for as much as possible. One strategy many homeowners use in order to achieve this goal is to renovate major aspects of their home, like their kitchen, before putting it up for sale. Although renovating can be beneficial, homeowners should carefully consider which projects to perform to obtain the highest return on their investment. Some renovations are better than … [Read more...]

A Guide to Selling a Home in Illinois part 3

Steps Involved in Selling a Home Selling your home can be a daunting process, and sellers often feel an emotional attachment to their home, making the process all the more fraught with complexities. A lawyer can help you manage each step of the home sale process so that you can move through the process as easily as possible. While each home sale is different and progresses on its own timetable, the following is a general step-by-step guide to the process of selling a home. First, you … [Read more...]

A Guide to Selling a Home in Illinois part 2

Why It Is Important to Hire a Lawyer When Selling Your Home Sellers of residential real estate are often tempted to proceed without the assistance of an attorney, but a real estate lawyer can be critical in facilitating a smooth transaction. Not only does a real estate lawyer advocate on your behalf when negotiating the terms of the purchase/sale contract, but he or she can also do the following: Review your listing agreement with a potential real estate broker to ensure that you are … [Read more...]

Common Causes of Home Closing Delays

A seller's hand with a key, a buyer's hand with dollar bills, a house model at the background At the 11th hour, a variety of issues may come up with real estate deals that cause home closing delays. Before escrow can close, buyers and sellers must meet all purchase contract terms, the sellers must transfer the property deed to the buyers, and the buyers must deposit the funds for the purchases to the sellers. Should problems arise during this time, the closing process may be delayed until … [Read more...]

Adding Your Spouse to the Deed of Your Home

Adding a spouse to the deed of a home is typically a fairly simple process, but the decision to do so should be carefully evaluated. Since such a move could have a substantial impact on a couple's financial future, homeowners should consider the advantages and risks before adding their spouses to the deed of their homes. How Do Homeowners Add Spouses to Property Deeds? One of the most common ways property owners add spouses to real estate titles is by using quitclaim deeds. Once completed … [Read more...]

Making Offers on Multiple Homes at Once

Making offers on multiple homes is a tactic used by some buyers when the real estate market is “hot,” and they are unable to secure an acceptance for their offer proceeding one property at a time. It is possible to make offers on multiple homes, but it could expose the buyer to legal and financial risks. Moreover, some local laws prohibit buyers from making offers on multiple homes at the same time. Legal Issues Some cities and counties prohibit buyers from submitting bids on multiple … [Read more...]

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