Wheaton, IL For Sale By Owner Lawyer

Experienced Real Estate Attorney Helping Homeowners Sell in DuPage County, IL

If you are ready to sell your home, you do not have to work with a real estate agent. You can list your home as "for sale by owner." This can simplify the process if you already have a buyer in mind or allow you to take a more personalized approach to selling your home. You would, however, have to do everything normally done by a seller's realtor on your own. If you plan on selling your home without the help of a listing agent, it is highly recommended to work with an attorney. Real estate transactions can be highly complex, and a legal misstep could cost you in the future.

The McCormick Law Firm, LLC has more than ten years of experience working with homeowners who are selling their houses without going through a real estate agent. Our attorneys are prepared to handle all legal aspects of your transaction so that you are not taking on any unnecessary risks by doing it all yourself. When you work with us, our dedicated DuPage County, IL FSBO lawyers will be with you every step of the way, from securing a buyer to drafting the deed and reviewing all the documents you will be asked to sign at closing.

Who Should Consider a For Sale By Owner Transaction?

Around 40 percent of people who sell their houses without using a realtor know their buyer and choose this method because they do not need help putting the house on the market or hosting open house events. If you already have a buyer lined up, especially one who is personally known to you, a real estate agent may be unnecessary. However, it is still important to work with a lawyer, no matter how much you trust your buyer or what the relationship between you is like. You still need legal representation in a friendly residential real estate sale, as there is a good deal of risk otherwise should something go wrong later.

FSBO is also a good choice if you know the real estate business well and feel capable of handling things like writing the listing and hosting open house events. If you work in the industry, have a lot of sales experience, or are confident that you can handle most of the tasks usually done by a seller's agent with the help of an attorney, FSBO might be for you.

If you live in a "hot" market, where any home that is listed for sale is quickly snapped up, you may have no real need for a seller's agent. In some housing markets, there is fierce competition for any home that is offered for sale.

The biggest perk of listing your house FSBO is avoiding having to pay a realtor's commission on your end. The seller's agent's commission may be as high as 6% of the home's value in some cases. You may still have to pay a fee to the buyer's agent if he or she has done much of the work a seller's agent would normally do.

Why You Need a Lawyer for FSBO

The body of law surrounding residential real estate transactions is incredibly complex. Missing or making a mistake in any part of the transaction could leave you open to legal liability later. An attorney can advise you on things like what disclosures are mandatory for the seller, making sure all encumbrances on the property are covered in your contract or resolved before sale, and making sure the correct type of deed is used. Your lawyer will also want to review everything you will be asked to sign during closing to ensure that you will not accidentally promise something you cannot provide due to the standard language used in a pre-written contract. Our lawyers will work to make sure that you are making a sound deal and cannot be sued later if the buyer has a problem.

Contact a Wheaton, IL For Sale By Owner Attorney

The McCormick Law Firm, LLC is experienced in helping homeowners sell without going through a real estate agent. Our knowledgeable team of DuPage County, IL residential real estate lawyers will work to protect you in your transaction. We offer discounted rates for first responders, veterans, and active duty military personnel, so please let us know if you fall into one of these categories. Contact us at 630-517-8570 for a free consultation.