Who's Involved When Selling A Home?
When selling a home, many players can be involved, including: real estate agents, attorneys, lenders, inspectors, and title companies. Everyone involved needs to understand the timeframe and work together to complete the transaction. Making the right choices on who to hire can make the process smoother, more cost effective, and provide protection of your investments.
Having legal representation lined up before signing a listing agreement is a good idea. Attorneys provide legal advice and explain the terms and legal consequences of the sale and contract agreements. They can make suggestions that will protect you and your investments. Your attorney can review the listing agreement – which is a legal document that obligates you to do things and pay charges. Disclosure forms are required in Illinois, and your attorney can advise you on how to complete those seller disclosure forms and other documents for prospective buyers. Your attorney can help you evaluate the offer and terms of the contract with your best interest in mind. The contract for sale is a legally binding agreement that you should understand before signing.
Experienced real estate agents can bring a wealth of information to the home-selling process as well. They can advise on pricing the home, repairs and improvements that attract buyers, and information about market conditions.
If you are considering selling a home without a real estate agent, having an attorney is especially important.
Scott & Fiello Schwartz, LLC, provides assistance with Real Estate Transactions and we are agents of Attorneys’ Title Guaranty Fund, Inc. Please contact us at (618) 416-3526 us with questions or to schedule an appointment.