Selling a home is a significant financial transaction that involves several legal processes. It is advisable to hire an experienced real estate attorney before entering into any agreements related to the sale of your home. An attorney can make sure that your rights are fully protected and the transaction goes through without running into obstacles.

When you receive an offer to purchase your home and you accept it, this creates a binding contract, outlining the rights and obligations of both the seller and the buyer. The terms of the contract govern the entire transaction, covering such aspects as the sales price, earnest money deposit, financing terms, closing date, possession date, inclusion of personal property, tax pro-rations and rights of inspection and possession. It is imperative that sellers thoroughly understand the terms of the offer before signing. An experienced real estate attorney can review the offer, explain its implications and assist in making counteroffers if necessary.

Your real estate attorney can propose modifications to the document, known as riders, to better protect your interests. A seller’s attorney pays special attention to contingency clauses, such those conditioning the sale on the buyer’s ability to secure a mortgage of a certain amount. Another clause might make the sale dependent on the buyer first selling their current home. A seller’s attorney can negotiate to remove or modify contingencies that would unfairly benefit the buyer.

Next, your attorney pilots the transaction through the closing process. He or she can facilitate the coordination of various tasks, such as obtaining a pay-off statement for existing loans, selecting a title company, arranging necessary inspections (such as termite, radon and mechanical inspections) and completing the required disclosure under the Residential Real Property Disclosure Act and a lead-paint hazard disclosure, if applicable. The attorney also reviews and pro-rates real estate taxes, prepares final closing figures, and ensures all documentation necessary for the transaction is in order.

An attorney can be instrumental in preventing or resolving disputes that may arise between the seller and the buyer. Issues related to inspections, repairs and possession dates can be sources of contention, and having legal representation can help navigate these challenges and protect the seller's interests.

Attending the closing with the seller is another crucial aspect of the attorney's role. They can explain the intricacies of the transaction, address any concerns or questions the seller may have, and ensure that the closing proceeds smoothly.

Lastly, an attorney can assist with post-closing matters, providing valuable support in case any issues arise after the completion of the sale.

When selecting an attorney, be sure to inquire about the fee arrangement and to assess their experience in handling real estate matters. You’ll want a lawyer with the skill needed to navigate the complexities of the home-selling process and to safeguard your interests throughout the transaction.

If you are selling your home, Skinner Law Firm, P.C. in Bridgeview, Illinois can offer sound advice and effective representation. We provide real estate services throughout the Cook County area. Please call 312-635-6459 or contact us online to schedule a free initial consultation.