Need to sell a house in River Grove 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. Use a River Grove Real Estate Attorney! This guide will walk you through how For Sale By Owner works in River Grove 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!
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 River Grove, Illinois. It’s also got tips from me, your humble River Grove attorney.
Table of Contents
Step One: What Would a River Grove Attorney not do?
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. This will make sure 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 when you market it. 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. Doing work before your property hits the market helps it sell more quickly. This is doubly true when you don’t have a Realtor. We have to do some of that work.
Step Two: What Would a River Grove Lawyer do?
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 River Grove 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 at 3033 Paris Ave or 8245 W Belmont. 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 River Grove’s bigger condominium associations, like one of the buildings along Grand Ave, 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 attorney can get that for you.
Step Four: River Grove Local Requirements
To sell for sale by owner in River Grove, Illinois, you’ll need to get a property transfer inspection. First, Complete a transfer application and pay the $100 inspection fee. The village has different inspection application forms for single family homes and condos, so make sure to pick the right form. Once you’ve submitted the application, schedule an inspection with the Building Department. If the inspector finds any violations, make any necessary repairs and call for a re-inspection prior to closing. Otherwise, the buyer will have to take responsibility for the repairs: they’ll have to complete an occupancy form, pay an escrow fee determined by the inspector, and complete the repairs within 60 days.
You’ll also need to get a transfer stamp. Schedule a final meter reading within two days of closing and pay your water bill. Your attorney will need to get copies of the Illinois PTAX-203 Real Estate Transfer Declaration form, Plat of Survey, and the deed. The buyer will also need to complete a New Property Owner Form. Once you have the necessary documents, bring them down to the Village Hall at 2621 Thatcher, River Grove, IL 60171-1698 and get the stamp. If you have any questions, feel free to call the Village Hall at 708.453.8000 or visit them online.
Step Five: Closing and Selling your Home in River Grove Illinois
Once you’ve accepted an offer, we can schedule the closing. This depends on the buyer’s closing date – 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 take debts off the property, end liability, and smoothly sell your home. If you’re interested in more, fill out the form below to start the process.