Need to sell a house in New Lenox Illinois? With so many houses on the market, it can be hard to know where to start. Luckily, there is an easy and cost-effective way for you to sell your home without having to deal with any real estate agents. This guide will walk you through how For Sale By Owner works in New Lenox Illinois and how you can use it to sell your home quickly, without paying any commission. You’ll also find out about the most common mistakes people make when selling their homes FSBO!
Now is a great time to try to sell your home without a realtor in New Lenox. The Rehabilitation Institute of Chicago is the #1 Rehabilitation Center in the United States. Joliet Junior College is one of the best junior colleges in America. Two huge developments are being constructed even as you read this – Cedar Crossings and Spring Creek. So, we want to help you sell prospective homebuyers on going to the Commons to see a show or playing a round of golf at the Sanctuary Golf Course. New Lenox has a lot to offer!
Many homeowners do not know how to sell for sale by owner. Some may even be misinformed about the process, thinking that they will have to pay a high commission fee and still end up with less than what their house is worth in the end. This article has tips from real estate experts who are familiar with FSBO sales in New Lenox, Illinois.
Table of Contents
Step One: What Shouldn’t I Do with my For Sale By Owner?
One of the most common mistakes people make when selling their homes is not doing enough research. You need to know exactly what you’re getting into before jumping in, and that means knowing how much your home will sell for after all expenses are accounted for. Knowledgeable real estate professionals, including brokers and lawyers, can help you get the most bang for your buck. The second mistake people often make is only reaching out to one real estate agent. Ideally, you should speak to at least three agents before deciding on which one has the best idea of value. Not every strategy is good for every FSBO home. The last mistake is not making the home attractive enough to buyers. You should stage the home before putting it on the market to make your property more desirable than those around it.
Step Two: What Should I Do to Sell My Home Without a Realtor in New Lenox?
One of the first things you should do when deciding to sell your home FSBO is to get a lawyer. A knowledgeable real estate attorney will help you through every step, and make sure that everything goes smoothly. The next thing you should do is gather all your paperwork. This includes copies of the deed, lien information, and any other important documents. Your knowledgeable real estate attorney will help you get title insurance on your property so that your buyer has more confidence in what they are buying. For single-family homes, you’ll also need a survey.
Next up is getting a great photographer who knows how to capture those stunning pictures buyers are going to want. You want to make sure that your home looks its best, and a professional photographer will be able to do just that.
Then, you should make a list of necessities. This includes everything from pest control to lawn care. The more work that is done before placing your property on the market, the more attractive it will be for buyers.
Step Three: How Do I Sell My House FSBO in New Lenox Illinois?
Now that we’ve covered price, legalities, and sales – let’s talk about how to get to closing. If you have got an offer and agreed on a price, a property, and a date, this is where you should start reading.
First, you’ll want to order a real estate survey unless you’re in a condominium like Oak Creek or Country Villa. A survey tells you where your property lines are and who can use your land. Surveys are good to know where the telephone and gas lines are located, but can also reveal big problems like bad fence lines or even buildings being placed on the wrong land. Those are rare, but in this business, you can never be too careful.
Next, you’ll look to get your mortgage payoff. For most lenders, you can get one of these by just calling your bank. Both the purchase loans and any home equity loans are pretty easy to find, and your lawyer can help. If you have an old HELOC, then you’ll need to make sure there is a lien release because those can’t be sold until we get a final credit letter.
Then, if you’re in one of New Lenox’s bigger condominium associations – maybe Windermere West, you’ll need to get a Paid Assessment Letter from your homeowner’s association. We’ve already covered how to do this at length, and your Chicago attorney can get that for you.
Step Four: New Lenox Local Requirements
New Lenox is an easy city for an FSBO client. There are no transfer tax or other special requirements for selling a home in New Lenox, Illinois.
Non-New Lenox Homes with New Lenox Addresses
Some properties with New Lenox mailing addresses are not incorporated in New Lenox Illinois. If your home is actually incorporated into a nearby municipality, it will be subject to their transfer tax requirements. Check with the New Lenox Village Clerk to see if your home is incorporated into New Lenox. Feel free to call them at 815.462.6414 or visit them online at www.newlenox.net.
Step Five: Closing and Selling your Home in New Lenox Illinois
Once you have everything ready, we can schedule a closing. This depends on when the buyer will close which is usually within 30 to 45 days of signing the offer contract for FSBO homes. That’s why it’s important to keep an eye out for these issues in advance. If you don’t stay on top of your transaction, you’ll end up waiting ages for third-party approvals in the transaction. By carefully following this guide, you’ll pay off all the debts on the property, extinguish your liability as best as you can, sell your home and have the smoothest transaction. If you’re interested in more, I’ve put a form below for you to contact us to start the process.