Selling a house in Chicago involves gathering extensive paperwork. From the documents required before listing to those needed at closing, the paperwork to sell a house in Chicago can feel overwhelming. However, approaching one document at a time can make it much easier. Understanding each piece of paperwork you’ll need to sell your house in Chicago will help you navigate the process smoothly. Let’s break down the paperwork you’ll need to sell your house in Chicago.
Documents For Listing
CMA Report
A CMA provides details on recent area sales to help you price your house accurately. By comparing similar homes sold nearby, you’ll get a fair idea of where your price should be. Your agent can create this for you to ensure it’s precise and useful for your market.
Listing Contract
This agreement gives your agent the right to sell your house, laying out the listing price, commission rate, and timeline. It’s a good idea to review all terms carefully so you understand what services are included, how long they last, and any fees.
Disclosures
Disclosures inform buyers of any known issues with the property, like plumbing or foundation concerns. This is required by law and protects you from potential legal trouble. Being upfront about known issues builds trust and credibility with buyers.
Receipts and Repair History
Buyers appreciate knowing about past repairs. Having receipts or documentation for any recent fixes or upgrades shows buyers your house is well-maintained. It also answers questions about the work done and provides warranty info for repairs completed by professionals.
Preliminary Title Report
This report confirms you own the property and highlights any debts or liens that may affect the sale. A clean report reassures buyers and lenders that the title is clear, reducing any risk of delays or issues at closing. It’s an important step in a smooth transaction.
Warranty Information
Buyers often want details on existing home warranties, especially for major appliances or systems like HVAC or plumbing. A transferable warranty adds value by assuring buyers that certain repairs or replacements are covered, highlighting the home’s appeal and care.
Paperwork After An Offer
Purchase Offer
The buyer’s offer lays out their proposed price, earnest money, and any contingencies like inspections. It’s the first step in negotiations, not a final contract, as terms might change before signing the purchase agreement.
Appraisal
If the buyer needs a loan, their lender will require an appraisal to confirm the home’s value. If it appraises for less, you may need to renegotiate or lower the price. This ensures the lender is funding an accurately valued home.
Inspection Report
This report details the property’s condition, noting any structural or maintenance issues. It gives buyers the chance to negotiate or request repairs, helping them feel secure in their purchase decision.
Purchase Agreement
The final purchase agreement is a binding document confirming the sale terms agreed by both buyer and seller, including purchase price, closing costs, contingencies, and timelines. It ensures both parties understand their obligations, providing a clear path to complete the transaction.
Deed
The deed is the final document to transfer ownership from seller to buyer. Once signed and notarized, it’s filed with the local recorder’s office, legally finalizing the sale and officially transferring the property to the new owner.
Leave The Paperwork To Us!
Handling the extensive paperwork you’ll need to sell your house in Chicago doesn’t have to be overwhelming. When you work with us, we’ll manage each step, from preparing disclosures to filing final deeds, ensuring every document is accurate and submitted on time. Our experience helps us catch common issues early, so you avoid last-minute delays or costly errors, giving you a smooth, stress-free sale.
Call us today at (800) 255-8250 or fill out the form below to learn more about how we can simplify the process and handle all the paperwork for you!