Real Estate Selling Process

1

The Transaction

Sellers: You accepted a contract at the right price.

2

Inspection

An inspection of the property (we can recommend some of the best in Chicago) is scheduled and completed within 3-5 days of the acceptance date on the contract.

Seller: The inspector is chosen by buyer and usually scheduled based on the inspector’s schedule. You want to accommodate the inspector since you want the inspection done ASAP.  At the inspection the inspector will check the mechanics (plumming, electric, HVAC, windows, fireplace, etc) and structure (foundation, ceiling beams, etc) are working properly.

3

Moving

Sellers: Check in with your management office and make sure you do not have any outstanding balances; fill out all necessary paperwork.

(If moving into a house, all you need is to book your move date and we can help you find the right company – we’ll help with storage, too.)

4

The Attorney Review

The contract and all building documents, rules, budget, association meeting minutes, condo docs/bylaws and inspection reports will be reviewed with you. This is the time you and the sellers make your “demands” about what you want in regard to the home.

Sellers: During the attorney review, you will generally fix any issues that come up from the inspection or, perhaps, provide a credit to the buyers so they can complete any inspection issues on their own. Upon agreement of the terms and conditions of the contract – by each parties’ attorney – the contract becomes binding. An appraisal is then done for the mortgage team.

Buyers: A cashier’s check (given to seller’s broker) or wire instructions will be given to buyer for submitting the earnest balance.

5

Closing

Once the closing is scheduled…

Sellers: We recommend that you move out at least three days before the closing so that there is time to have the property cleaned after everything is moved out. You will leave all remotes, manuals and keys in the unit for the new homeowners.

Sellers: At the closing, you will receive final transaction documents and a check for the sale.