Chicago Condos Online - Wed December 1, 2021

Checklist For Selling a Home in Chicago

Keep These Things In Mind When Selling A Home:

  • Consider personal goals for the condo, including a listing price and how soon you hope to close.
  • Hire a real estate agent. Although it is possible to sell the property yourself, following that route involves a lot of research and leg work on your part, so hiring an agent is more common.
  • Set a price. Research the prices of comparable properties in the same neighborhood and ask your real estate agent to recommend a price. Be sure to cross-reference the price with multiple sources to ensure that you are not asking too little or too much.
  • Discuss marketing and advertising strategies with your real estate agent, and be sure to leave room for negotiation with potential buyers.
  • Calculate your own finances and try to figure out how much of the sale you will have to pay your agent and the bank. In addition, calculate the cost of selling your home and check your own equity.
  • Make minor improvements to the appearance of your condo and clean it thoroughly so that it is ready to show. A little bit of work in this area usually raises the value of the condo by a considerable amount of money.
  • Consider which of your belongings and appliances will be included in the sale and which will not, and be sure that this is mentioned up-front with potential buyers.
  • Hire a real estate lawyer. Once contracts are drawn up, you’ll need a lawyer to review it and to review the listing agreement.
  • Familiarize yourself with the listing agreement, disclosure statement, the sales agreement, and the settlement statement, and make sure that you understand them and that they are accurate and correct.
  • Find a new place to live!

Be Sure To Collect And Familiarize Yourself With The Following Forms And Documents:

  • Your condo owner’s title policy
  • The listing agreement
  • Information on special assessments
  • A residential real estate property disclosure report
  • Mortgage paperwork
  • Latest tax bills
  • A summary of the average costs of utilities
  • A sales agreement
  • A settlement statement
  • Closing forms

Print off this checklist and use it when you buy!