Resources

Seller’s Closing
Checklist

Review and Sign the Contract:
Confirm that all agreed terms — including the sale price, contingencies, and closing date — are correct and acceptable prior to execution.
Address Inspection Items:
Complete negotiated repairs, supply any required receipts or warranties, and verify that credits or adjustments are properly documented.
Organize Required Paperwork:
Collect property records, survey information, mortgage payoff details, and manuals or warranties for included fixtures and appliances.
Confirm Title and Transfer Tax Details:
Work with your attorney to resolve any title matters and understand the transfer taxes or municipal fees due at closing.
Coordinate Utilities and Final Services:
Arrange for utility transfers or shutoffs and schedule final services such as cleaning or yard maintenance.
Prepare Keys and Access Items:
Have all keys, garage openers, security codes, and mailbox keys ready for delivery to the buyer.
Attend the Closing Appointment:
Sign all required documents, review the final settlement statement, and complete the transaction with your attorney’s guidance to ensure a smooth closing.

Real Estate Glossary
for Sellers

Appraisal: A certified appraiser’s independent determination of a property’s market value to ensure the purchase price reflects current market conditions.

As-Is: A transaction term indicating the property is sold in its existing condition, with no obligation for the seller to complete repairs or improvements.

Capital Gains Tax: A tax on the profit realized from the sale of real estate, generally based on the length of ownership and the seller’s tax classification.

Closing Costs: Expenses due at the completion of a real estate transaction, which may include legal fees, transfer taxes, title insurance premiums, and escrow charges.

Comparative Market Analysis (CMA): A valuation report prepared by a real estate professional that compares your property to recently sold, similar homes to help establish a competitive listing price.

Contingency: A condition written into the contract that must be satisfied for the transaction to proceed, such as loan approval or a satisfactory inspection.

Earnest Money: A deposit provided by the buyer to demonstrate serious intent, which may be retained by the seller if the buyer fails to fulfill contractual obligations.

Escrow: A third-party holding arrangement where funds and documents are securely maintained until all terms of the agreement are completed.

FSBO (For Sale By Owner): A property sale managed directly by the homeowner without the involvement of a listing agent.

Home Inspection: A professional assessment of the property’s physical condition that may result in repair negotiations or pricing adjustments.

Listing Agreement: A formal agreement granting a real estate broker the authority to market and sell the property under specified commission and timeframe terms.

MLS (Multiple Listing Service): A cooperative database that allows real estate professionals to list properties and share information with other agents to broaden buyer exposure.

Net Sheet (Seller’s Net Sheet): A financial estimate outlining the seller’s expected proceeds after deducting commissions, taxes, and closing-related costs.

Purchase Agreement (Sales Contract): A binding legal document outlining the purchase price, contingencies, deadlines, and other essential transaction terms.

Seller Concessions: Contributions made by the seller toward the buyer’s closing expenses or other agreed costs to facilitate the transaction.

Staging: The process of enhancing a home’s presentation through furnishing and décor to increase appeal and attract stronger offers.

Title Insurance: An insurance policy that safeguards the buyer and lender against future claims, liens, or ownership disputes related to the property.

Title Search: An examination of public records to confirm legal ownership and identify any outstanding claims, liens, or encumbrances before closing.

Transfer Tax: A government-required charge applied when property ownership changes, typically calculated as a percentage of the sale price.

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Frequently Asked Questions

Questions? We are here to answer them.

Our firm has successfully completed more than 11,000 real estate closings and earned hundreds of five-star reviews on Google, Yelp, and the Better Business Bureau. This extensive experience allows us to provide knowledgeable, dependable representation at every stage of the transaction.

While our office is based in Chicago, we represent clients throughout the greater Chicagoland area. With multiple convenient locations, we offer accessible service and strong local insight across the region.

Before closing, we prepare a detailed estimate of your projected expenses, explain each fee clearly, and identify opportunities to minimize costs. Our goal is to provide transparency so you can plan with confidence.

Yes. During the attorney review period, we negotiate inspection-related repairs, credits, or contract modifications to ensure fair terms and protect your financial interests.

Although many sellers attend closing, alternative options—such as mail-away signings—may be arranged depending on the circumstances and your availability.

We conduct comprehensive title searches to identify liens, encumbrances, or ownership concerns. If any issues arise, we work proactively to resolve them so the transaction can proceed without delays.

The timeline depends on factors such as financing, inspection negotiations, and municipal requirements. Most standard transactions close within 45 to 60 days, though timelines can vary.

We maintain consistent communication throughout the process, providing updates, answering questions promptly, and ensuring you understand each step from contract to closing.

Unlike high-volume, low-cost firms that offer limited involvement, we deliver personalized attention, strategic guidance, and dedicated advocacy focused entirely on protecting your interests.

Absolutely. Our relationship does not end at the closing table. We remain available to address post-closing questions and assist with any follow-up matters that may arise.