(847) 714-2866 lauren@lejlaw.com

Selling Real Estate

A guide of the real estate selling process

Selling your real estate does not have to be complicated.  Although, every transaction is different, below is the typical process when you are selling your real estate.

  1. You receive an offer on your property via a real estate contract from a potential buyer.  Once you agree to the terms, you sign the real estate contract, accepting an offer from a potential buyer.  The important part is once the contract is signed you send us the signed contract as soon as possible. This starts the attorney review period and we will get in contact with the buyer’s attorney to start the final negotiations.
  2. Inspection of property and modification phase
    1. At this point, the buyers will have an inspection of the property if they choose.   We will then receive the buyer’s attorneys’ letter proposing what repairs and changes they would like made before purchasing the property
    2. With our help and guidance, you decide how to respond to their requests
    3. We will draft the revised agreement and send it to their attorney
    4. Buyer agrees or negotiates the revised agreement
    5. You complete all agreed repairs before the final walk-through can be scheduled
  3. Loan Approval Phase
    1. We order title and address title issues that turn up
    2. We wait for the Buyer’s lender to issue loan approval
    3. We wait for Buyer’s lender to mark the file “Clear to Close” (This is usually the biggest hold up in the transaction)
    4. We schedule closing time and place with buyer and lender
  4. Pre-Closing Phase
    1. We prepare the Deed, Affidavit of Title, Transfer Tax documents, Bill of Sale, 1099 documents, ALTA statement, FIRPTA documents, Power of Attorney and other closing documents necessary to sell your home
    2. If you don’t want to attend the closing personally, you can schedule a meeting with us to sign documents before the scheduled closing
  5. Closing
    1. We attend the closing and finalize the transaction

 

Contact us today to sell your home!

847-714-2866

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