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A Guide to Selling a Home in Illinois part 2

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 paying the appropriate commission and getting the services that you deserve.
  • Protect your legal position by advocating on your behalf when negotiating the terms of the agreement (with the exception of purchase price).
  • Explain the real estate sale process and help you understand your rights and obligations in connection with the sale.
  • Obtain the documents necessary to clear title and satisfy sellers’ obligations under the real estate sale contract
  • Prepare a deed and other transaction documents.
  • Gather the necessary information in order to provide a detailed report of transaction fees that will be incurred at closing.
  • Determine the location and time of the closing. Typically the closing will be held at the title company office nearest to the location of the property, or at some other agreed upon location.

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