Daniel Realty Solution
How Selling a Home Works in Illinois
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Whether this is your first time selling or you're listing again after a failed attempt, here's a step-by-step breakdown of how the home selling process works in Illinois.
From listing and attorney review to inspections and closing — I’ll walk you through each stage so you know what to expect.
Step 1: List Your Home
You’ll sign a listing agreement so I can represent you. We’ll get professional photos, create a marketing plan, and launch your listing to reach serious buyers fast.
Step 2: Review Offers
When buyers submit offers, I’ll help you compare more than just price. We’ll look at the type of loan (FHA, VA, Conventional, or Cash), the inspection timeline, earnest money, closing date, and other key terms. You can accept, reject, or negotiate — I’ll guide you through it all.
Step 3: Attorney Review Period
In Illinois, once a contract is signed, both the buyer and seller have 5 business days to have their attorney review it. During this time, we can negotiate changes, clarify terms, or cancel if needed. This protects you and helps make sure the deal is fair and clean.
Step 4: Home Inspection
We’re stacking trust with every section you build — let’s keep going!
Step 5: The Appraisal (If Buyer Has a Loan)
If the buyer is using a mortgage, their lender will order an appraisal to confirm the home’s value. If the appraisal comes in at or above the purchase price, we move forward. If it comes in low, the buyer may ask for a price reduction or to cover the difference themselves. I’ll help you navigate this process to keep the deal moving.
Step 6: Final Loan Approval & Clear to Close.
The buyer’s lender will complete a final review of all financials and paperwork before issuing a “Clear to Close.” This means the loan is fully approved, and we’re ready for closing day! During this time, we confirm final details like title work, closing statements, and any last-minute adjustments.
Step 7: Final Walkthrough & Closing
Before closing, the buyer does a final walkthrough to ensure the home is in the agreed-upon condition and any repairs were completed.
On closing day, you’ll sign final documents, and ownership is officially transferred to the buyer. If you prefer, I can help coordinate a remote closing so you don’t have to attend in person. Once everything is complete, you get paid, and the sale is officially closed! 🎉