FAQ When Selling Home First Time - 23 Legal

FAQ When Selling Your Home for the First Time

Legal Services, Tips
Congratulations on deciding to sell your home! Most likely, the choice did not come lightly – especially if you and your family made many wonderful memories in this home. Now you may be wondering, what are the next steps in selling my home? The real estate market is currently a seller’s market, meaning there is a high demand for homes! This is excellent news if you are looking for a fast and profitable return on your real estate investment
First, make sure it’s the best season to sell a home in your area. How do you know when it’s the right time to sell your home? An easy mistake that first-time sellers can avoid is placing your home on the market at the wrong time. Understanding the appropriate time to sell your home is crucial for success in this endeavor!
“Nationwide, the best time of year to sell a house is usually considered the beginning of May. Homes that are listed at the end of spring and beginning of summer not only tend to sell faster but also for higher prices. Real estate agents often try to have their listings hit the market on a Friday or Saturday between April and June, so they can schedule an open house for that same weekend and maximize the number of buyers who come to see it.
Finding the peak time to sell really depends on where you live. For areas that experience all four seasons, spring is often considered optimal because people have been cooped up indoors throughout the winter and are anxious to explore new housing options as soon as the weather warms up. ” Rocket Homes

Buyers searching for a home tend to avoid homes that have been sitting on the market for extended periods of time. These buyers might be worrying about what is “wrong” with the property and why doesn’t anyone want to live there? When you are connected to an experienced local real estate lawyer like Ben Weaver, he can connect you to successful real estate agents who are knowledgeable about your location. While spring is traditionally considered the start of home-selling season, it doesn’t necessarily mean that’s your only option.

While it’s true that housing inventory (the number of homes available on the market) is always lower in the fall than in the spring and summer, it’s also true that buyers who are shopping in the fall are likely to be serious about buying and won’t wait long before making a decision. Fall buyers may be moving because of a job relocation or change in their family situation, so they’re often eager to close a deal. And, the hotter your local real estate market is, the less significant a role seasonality plays.

If you’re a homeowner looking to sell during an unpopular time, you have options such as selling your home digitally. These new and modern selling methods have taken away the pressure of feeling stuck having to only deal in spring. Learn more tips for selling your home in fall and winter on our blog!

Selling your home? Read 23 Legal’s helpful FAQ for first-time home sellers…
Who should lead my selling team?

Is it wise to sell on your own or with an agent? After deciding to sell your home, the thought of how to sell it is the one that follows. Selling your home on your own is always possible; however, it may not be the easiest or the wisest method. There are many legal documents that come along with selling a property.

Ben always reminds his clients that they should have a professional review any kind of legal documents, especially when there are signatures involved. A good rule of thumb is if you’re asking if you need an attorney, then you probably do! At the very least, a real estate attorney can be used as a trusted consultant or advisor based on their many years of experience. This is the safest way to prevent legal difficulties and complications. Learn more about the benefits of working with a real estate attorney here!

To achieve the best possible outcome while selling your home, 23 Legal suggests partnering with a reputable realtor, real estate agent, and a real estate attorney. Not sure what the difference is between a realtor and a real estate attorney? Read our breakdown on the differences and how both can assist you in successfully selling your home!

Do I need to complete all home improvements before placing our home on the market?

By spending time working on your home, you will increase the actual sale value of your home. Take the time to complete any small home improvement projects before placing your home on the market. Be conscious of eyesores that may put your home at a disadvantage among other homes in your neighborhood.

Zillow recommends: “Opt for a pre-inspection: While it’s likely that your buyer will do an inspection as part of the purchase process, sellers often opt to do their own pre-inspection. Among sellers who worked with an agent, 25 percent had an inspection done before contacting an agent. Why? A pre-inspection can help you avoid surprises down the road and gives you a chance to fix the items that an inspector would flag for a buyer.”

What are other ways I can increase my home’s value before selling?

Boosting the value of your home doesn’t equate to throwing large amounts of money at your property. A good place to start is with your curb appeal. First impressions make all the difference! Even when creating listing images for your home online, you will need to take high-quality photos. The only way to achieve this is by first upgrading the curb appeal. There are a variety of simple DIY projects you can do yourself, or hiring a local contractor to help you achieve the property upgrade…

  • Ask for help from loved ones: Take some quick pictures of your property and ask others for their suggestions for improvements. Make a list of what they like and don’t like.
  • Declutter your lawn: Even though you may love all your gnomes and lawn furnishings, they could make your property look crowded or even neglected.
  • Walkways and driveways: If there are cracks in walkways or missing pieces in the driveway, begin the process of replacing them for a clean, safe look.
  • Seasonal landscaping: Sprucing up the outdoors can make all the difference! Nothing adds life to a home like healthy, vibrant plants. Having pristine landscaping will elevate your property to new heights – aesthetically and even financially speaking. Make sure to choose plants that will thrive in your environment.
FAQ When Selling Home First Time - 23 Legal
Should I stay here during the sale or leave while it’s on the market?

Many people wonder, while my home is on the market, is it best to live here or move out? If you can live elsewhere while selling your current home, you may prefer to live in a different location. This will open up the opportunity for the home to be viewed more frequently without inconveniencing your family. Each seller is different and has a unique situation attached to the sale of their home. With that in mind, here are two examples of stay-or-go sellers:

1. Selling your home while purchasing a new one: If you are currently selling your home while purchasing a new one, then you are in what is considered a “dual real estate transaction”. You may not have as much time as someone else to stay in your current home while you search for a new one. In this case, you may even consider renting or being on a short-term lease while you sell one home to help you with purchasing another. Not sure if renting is the best option? Read the pros and cons of renting vs owning here!

“Ben is an excellent attorney. He helped me when I bought my current home and helped me through some difficult times when I sold my other home. Ben is very understanding and caring – and very patient. I don’t know how I would have gotten through all the issues I had to deal with if it hadn’t been for Ben. I was so lucky to have him to work with.” Client Testimonial

2. Living in your home while you sell it: When you have a trusted real estate team behind you, ideally you will be able to work out a schedule for showing your home that works best for your family. Moving out during the sale process may not be an option at all. And sometimes depending on your work or family situation, it may be difficult to accommodate so many showings. Fortunately, realtors have spent the past year creating ingenious ways to show and sell a property primarily online.

Virtual home tours (also known as 3D tours or 3D walkthroughs) allow home buyers to digitally tour a home that’s for sale. Virtual tours are quickly becoming the new “norm” for house hunters across America. Our virtual house hunting & 3D guide is a wonderful way to broaden your opportunities for selling while remaining in the home!

When should I accept an offer on my home?

Once your home is officially on the market, potential buyers can place bids or offers on your property. Before accepting any financial offer on your home, it’s a good idea to seek the legal advice of your attorney. An attorney will know all the critical information needed for a successful negotiation on the house. Don’t jump at the first offer!

More about accepting bids…

When receiving bids from potential buyers, it’s important to have a real estate attorney like Ben Weaver on your side to review all official bids. The process of bidding will hopefully lead to negotiations of terms. Nolo says: “You may meet your buyers’ real estate agents if they choose to formally present purchase offers to you and your agents. You may even be handed photos of the prospective buyers, and personal letters, if they’re in a competitive bidding situation.”

Your real estate attorney will play a major role in helping you navigate through this often complex process. These are the common legal negotiations during this time. Your attorney will need to guide you through these sometimes challenging financial discussions while giving you specific pointers from their years of expertise! Read our negotiating guide for more information.

“Great to work with! Truly knows the process. Ben had great communication throughout the entire sale and purchase. Highly recommended!” Client Testimonial

Is closing as a seller different from closing as a buyer?

While the experience as a seller versus buyer may feel different emotionally, the actual process isn’t that much different after negotiations and accepting of an offer. There will be a set date on which all the paperwork is signed and witnessed. The seller (you) is not required to be at the closing, and your lawyer may be your physical proxy if you choose.

As a seller, you can even give your attorney a list of requests during the negotiation process that may need to be completed at the closing. This could be anything from a financial agreement that includes partial cash payment or an increase in the home’s sale price if you chose to sell the existing furniture to the buyers along with the property.

“​​Ben Weaver was great, he gave me the feeling that he was looking out for me. English is my second language so he patiently explained some of the legal language.” Client Testimonial

Attorney Ben Weaver is here to guide you through the exciting process of selling your home…

A real estate lawyer is someone whose job it is to be an expert regarding the rules and regulations related to real estate transactions in your state. In certain states, you can’t buy or sell a house unless a real estate lawyer is present. Real estate attorneys specialize in legal matters related to property, from sale transactions to disputes between parties. They help their clients understand contracts and other legal documents. Attorney Ben Weaver is a proud member of the Illinois State Bar Association and the Illinois Real Estate Lawyers Association, ready to assist you on your journey!

Haven’t worked with a real estate attorney before? No worries, browse our blogs to learn more:

Being on the other side of a property closing can come with countless questions and challenges. No new home seller can feel 100% prepared to face the emotional process of selling their beloved home. But, while selling with attorney Ben Weaver in your corner, you can feel confident in any choices you make during the process!
Ben will be there to walk you through this exciting transition into the next chapter of your life. For more information on this topic, read our expert guide: preparing your home for a successful sale.
Attorney Ben Weaver is known for going above and beyond for his clients. Whether you request guidance in buying or selling your homehave an estate planning question, or another legal problem in regard to real estate, you’ll need a trustworthy lawyer who cares!
The 23 Legal team is ready to lighten your load when it comes to selling your home and we want to make your experience a pleasant one. Contact Attorney Ben Weaver today to learn more about how he can assist you!

Please feel free to contact us for assistance or with any questions you have. Click here to read 5-star client reviews!

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Why Choose 23 Legal

23 Legal offers Real Estate and Estate Planning legal services to individuals, families, community associations and small business owners throughout Chicagoland. We know how intimidating “the law” can be. In fact, when most people think of law offices, they think of stuffy leather chairs, huge wooden desks and pompous lawyers who charge outrageous fees. That’s not us! We believe in 1-to-1; the same lawyer should work with you all the way through. Whether you have an estate planning issue, family trust concern, or you have a legal problem in regard to a new home, business, real estate or remodel, you need a lawyer who cares. That’s where Ben comes in! We are great listeners; more than that, we are lawyers who believe that our clients always come first.

Attorney Ben Weaver is an expert in Real Estate Law for Arlington Heights, Prospect Heights, Mount Prospect, Des Plaines, Glenview, Park Ridge, Wheeling and the surrounding communities.

Contact Ben Weaver for Legal Assistance Selling Your Home!

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