Real Estate Lawyers for Sellers in Illinois
Great news! All the hard work you’ve put in to get your home ready has paid off and you’ve received an offer. Once you accept, you may be tempted to feel that most of the work and worry is over. Unfortunately, there’s still some work to do and concerns you may need to address.
Every real estate transaction is different, but we can give you a brief overview of what to expect after you have a contract for the sale. A real estate attorney can be very helpful at this point in the process to protect you from unnecessary expenses or delays. At Evans Legacy Law Group, we’re ready to work with you every step of the way, protecting your interests and negotiating to reach the best solutions if a problem should arise.
Inspections and Evaluations
After their offer has been accepted, many Illinois buyers opt for a home inspection. This step, often facilitated by professionals, helps identify potential structural or functional issues with a property. If concerns arise, that’s where our expertise comes into play.
Typically, within five days, the buyers and their attorneys will send a modification letter, potentially seeking contract tweaks or pinpointing repairs. We guide you on the most pragmatic approach, whether it’s negotiating a price revision or addressing highlighted issues.
The Wait for Loan Green Light
Once we settle the modifications, there’s a brief pause in visible action as the buyer’s lender delves into the loan approval. At the same time, your legal team will be orchestrating behind the scenes, marshaling all necessary documents.
We believe in crystal-clear communication, so you’ll receive a checklist detailing our collaborative steps. When the “Clear to Close” cue comes from the lender, we swiftly coordinate a closing date, ensuring it aligns with the interests of all involved parties.
Understanding Illinois Tax Implications
Selling a property isn’t just about listing, negotiations, and paperwork. The tax implications of your sale can be significant. Depending on how long you’ve owned the property, or whether it’s your primary residence, you could be eligible for specific tax breaks.
On the flip side, you’ll want to be aware of potential capital gains taxes. We ensure you’re not just legally protected, but also well-informed about the fiscal aspects of your sale.
Sealing the Deal with Documentation
A week before the closing, you’ll find us at Evans Legacy Law Group dotting the i’s and crossing the t’s. We prep everything, from the Affidavit of Title to the Bill of Sale. And because we can represent your interests at closing, you can sign documents ahead of time and do not need to attend the closing.
You simply authorize us to represent you during the closing and you don’t need to take time from your schedule to sit through the process. Many sellers in Illinois opt for this streamlined approach.
Guidance Beyond the Sale with Your Trusted Real Estate Advocate in Illinois
At Evans Legacy Law Group, our commitment to you doesn’t end at closing. We understand the emotions and logistics involved in moving, transitioning to a new home, or even relocating out of state. That’s why we provide post-sale support, whether you need referrals for moving services, insights on the Illinois housing market, or advice on your next real estate venture.
Every home has a story, and every sale marks the start of a new chapter. Whether you’re upsizing, downsizing, or just seeking a change of scenery, we’re here to ensure your narrative unfolds smoothly. Dial us at 872-228-1572 or connect online, and let’s begin your next chapter together at Evans Legacy Law Group. Your journey, our expertise. Together, we make real estate success stories.