SELLING REAL ESTATE 

For many, selling Real Estate can be one of the largest financial transactions of their life. Even for an experienced Seller, whether upgrading, relocating, downsizing or selling an investment property – the process can be stressful, emotional, frustrating and exciting. Having knowledgeable and experienced attorneys who can anticipate and avoid common issues is an indispensable asset to your process.

 

Our attorneys will advise and guide you through the transaction, from commencement to Closing, addressing any issues along the way, making the process more efficient while safeguarding your interests. This includes reviewing the contract, reports, tax proration agreements, closing costs, settlement statements, survey, Home Owners’ Association documents and knowing how to advise you on each, so you can make well informed decisions throughout the process.

 

Our attorneys, whose practices are focused on real estate and property law, are skilled in issue spotting and anticipating potential obstacles, knowing when they typically arise, what to look for, and can isolate nuances attributed to specific counties and municipalities throughout Chicagoland. They have the experience and the knowledge to address and clear these potential issues, making them indispensable to effectuating a successful closing.

 

Check out our common Seller Question & Answers, if your questions is not here, please feel free to contact us directly with your question(s) here.

Weppler Law Group Legal Services

How much are the legal fees for Weppler Law Group to represent me during my Sale?


Our firm charges a flat rate per contract which includes the services listed above. We firmly believe that stellar representation should not have to come at a hefty price. Our attorneys understand the expenses involved in real estate transaction and therefore maintain a fair flat fee which ranges from $400 to $600 depending on various factors. Send us a message or give us a call and we can quote you the accurate amount for the property transaction involved.




What Legal Services does Weppler Law Group provide me when representing me throughout my Sale?


Our firm is with you every step of the way, our attorneys will…

  • Review your contract once an offer has been made and accepted;
  • During the attorney approval period, review the contract and the Disclosures with you to ensure the contract memorializes everything you believe you negotiated and agreed to;
  • Review Buyers’ attorney correspondences, Attorney Approval Letters, and negotiate or help resolve any issues that arise after the home inspection has been conducted and the report has been reviewed;
  • Review the title commitment and address any liens or other defects and make sure the appropriate steps are taken to clear such encumbrances;
  • Order and advise on the plat of survey, review and address any issues revealed by the survey, such as property line disputes;
  • If applicable, order and review Home Owners’ Association documents including but not limited to the 22.1 Disclosure and Paid Assessment Letter;
  • Verify all Municipality and/or County requirements and/or inspections, when applicable, are met and complete prior to closing;
  • Verify that all charges are properly prorated and that all matters that could affect title to the property have been cleared prior to the closing date;
  • Prepare Closing Documents including but not limited to: the Deed, the Affidavit of Title, the Bill of Sale, and the Closing Statement;
  • Review all Closing Documents and Closing figures with you prior to Closing;
  • Provide the option to pre-sign your Closing Documents in office; and lastly
Represent you and your interests at the day and time of Closing





Closing Costs

What are the typical Sellers’ Closing Costs?


  1. Closing Fee
  2. Title Insurance Policy (for Purchasers)
  3. Real Estate Taxes (credit Purchaser for current year taxes up to the closing date)
  4. Attorney Fees;
  5. Transfer Stamps / Taxes;
  6. Municipality fees /requirements (if applicable);
  7. Home Owners’ Association document order fees (if applicable);
  8. Plat of Survey (if applicable);
  9. Well and Septic Inspection Report;
  10. Termite Inspection;
  11. Radon Inspection & potential remediation;
  12. Cost in addressing home inspection requests and repairs;
  13. Home Warranty (if applicable); and
  14. Closing Cost Credits (if applicable).





Common Sellers' Questions

When should I contact an attorney regarding the sale of my property?


Sellers should contact an attorney at the beginning of the selling process for a consultation to learn about the legal side of the selling process, anticipated closing costs, what particular issues or requirements regarding your property exist and to inquire on the attorney fees. Note however, once you have accepted an offer, it triggers the Attorney Review period (if applicable per your contract) and you should immediately contact an attorney to review the contract with you and any correspondences from the Buyers’ attorney.




Can any attorney handle my Real Estate Closing?


Not necessarily. Just as you wouldn’t go to a podiatrist for heart surgery, you may not want to go to an attorney who does not regularly practice real estate for the sale of your property. Our Attorneys will be familiar with the contracts used by the Real Estate Board in your area and the law related to Real Property transactions.




Do I need to hire a Real Estate Agent?


Not necessarily. However, most will advise that you do. Real Estate Agents provide a plethora of knowledge and information to Purchasers and commonly list properties where they are familiar with the area. Being familiar with the area, the good, the bad, the trends, what’s available can aide you in selling your property. Ask around and be clear what the commissions (fees) that agent charges. Note that the “Commission” is typically a percentage of the purchase price of the property and for most agents is a negotiable percentage




Who is typically involved in a real estate transaction?


Each of the following potential parties involved in a real estate transaction have their own interests and agendas to pursue and protect. our attorneys will guide you through the process, work with these third parties to make sure your interests are met on all levels.

  • Real Estate Agent / Realtor
  • Lender
  • Appraiser
  • Inspector
  • Title insurance company
  • Builders – contractors.





 

Seller Frequently Asked Questions

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