Home Sale Checklist
Everything you need to prepare for a smooth home sale in Chicago and the surrounding suburbs.
Everything you need to prepare for a smooth home sale in Chicago and the surrounding suburbs.
Get a comparative market analysis (CMA) from a real estate professional or request a cash offer from a direct buyer for a baseline value.
You have three main options: list with a realtor (3-6 months, highest price but most fees), sell to a cash buyer (7-14 days, no fees, as-is), or sell by owner (FSBO).
Collect your deed, mortgage payoff statement, property tax bills, HOA documents, home insurance, and any renovation permits or receipts.
Run a preliminary title search to identify liens, easements, or clouds on title that could delay closing.
For traditional sales, consider repairs and staging. For cash sales, sell as-is - no repairs needed.
Illinois requires a Residential Real Property Disclosure Report for most sales. Complete this honestly to avoid future liability.
Verify all renovation work has closed permits. Open permits can delay or block a traditional sale.
Contact your lender for your payoff amount. Check if your mortgage has a prepayment penalty or due-on-sale clause.
Budget for: title insurance, attorney fees, transfer taxes (Chicago: $5.25/$500), state transfer tax ($0.50/$500), prorated property taxes, and any outstanding liens.
Illinois requires an attorney for real estate closings. Select one experienced with your type of sale (traditional, probate, foreclosure, etc.).
Once you accept an offer, coordinate your moving timeline. Cash sales can close in as little as 7 days - plan accordingly.
On closing day, bring your ID, keys, garage door openers, and any documents your attorney requests. Sign the paperwork, receive your proceeds.
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