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Illinois residential real estate transactions: Selling a home

The joy of buying one's first home usually comes with the trouble of trying to sell it down the road. People have to move for work or personal reasons and that does not always come at a time when the housing market is in a good place for sellers. Those in Illinois who find themselves needing to sell can seek help from an attorney who has experience handling residential real estate transactions

Buying versus selling are very different processes with different goals. When selling one's home, the goal is to achieve maximum profit. This can be done by:

  • Picking a good agent and talk about commission and fees
  • Pricing accurately
  • Staging the property
  • Choosing the best time to list the  property
  • Being flexible when it comes to home showings
  • Responding to offers in a timely manner

Finding a buyer is not always easy, but once that is accomplished and an offer is accepted one may feel elated. This is not time to drop the ball, though. There is still a lot to accomplish before a deal is closed. Contracts, inspections and dealing with any property issues must all be addressed. Having legal counsel on hand to draft and review contracts, help with negotiations and handle and problems that arise can be to one's benefit. 

Is having an attorney necessary when selling a home? Most Illinois residents believe that residential real estate transactions can be fully handled by real estate agents. While, to some degree, that may be true, some aspects of the home selling process are simply be better left to a person that has a better sense of real estate law and who can act as unbiased third-party. 

Source: thebalance.com, "Real Estate Tips for a First-Time Home Seller", Elizabeth Weintraub, Accessed on April 18, 2018

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Lisle, IL 60532

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