Frequently Asked Questions
If you would like a free legal consultation, call Attorney Bradford Miller
at 855-897-9410
Do I need an attorney?
How do I hire you for my closing?
Call my office at 855-897-9410 and fax or email the contract. My fax number is 312-379-3163. My email address is bmiller@bradfordmillerlaw.com.
What kind of closing costs can I expect to have as a seller?
Read about closing costs under the post Seller Closing Costs
When should I get an attorney involved?
I recommend you contact our office right away — even before you receive an offer. This way we can begin representing you immediately, which will allow us to review any contract BEFORE you sign it. Other people, however, wait until they accept a buyer's offer. Please note though that you need to contact us immediately after accepting a buyer's offer because there are important deadlines that begin to run after you accept the buyer's offer.
What is a typical timeline for this type of transaction?
Read about the typical timeline under the post Seller timeline
What if the buyer walks away before the closing?
If all of the contingency deadlines have passed (attorney approval, inspection, mortgage commitment date, etc.), you may be able to retain the buyer's earnest money as a penalty. However, it depends on the individual facts at the time the buyer walks away.
How long does it take from the time I accept a buyer's offer to the actual closing?
Typically between 45 and 60 days, however, it may be longer or shorter depending on the individual circumstances.
If the buyer asks for certain repairs to be made during the inspection period, do I have to repair the items?
No, you do not. Keep in mind however, that the buyer could then possibly walk away without penalty if we fail to reach an agreement with them. Typically, we work those issues out and come to an agreement that is fair to both sides.
Please explain how property taxes work in the Chicago area:
In the Chicago area we pay our property taxes in arrears, which means that this year, we are paying last years taxes. Therefore, when you sell your home, you will have to give a credit to the buyer for the taxes not yet due while you lived in the home. Generally speaking, taxes are prorated around 105-110 percent absent special circumstances. That means that we are assuming that the taxes will go up 5-10 percent next year.
What is the "final walk-through?"
The final walk-through usually takes place the day before closing. Generally speaking, the buyer, along with their real estate agent will be looking through the home to make sure there are no problems. For example, they will be (1) making sure any agreed repairs have been made, (2) confirming that the appliances, furnace, hot water heater, etc. are still working, (3) confirming that any personal property of the seller(s) has been removed and (4) checking for any new damage due to the seller(s) moving out or other reasons. As the seller, you should make sure that the home has no new damage and is in broom-clean condition for the final walk-through.
Do you handle short sales?
Yes, Bradford Miller Law, P.C., handles short sales for both buyers and sellers. For more information, contact my office at 855-897-9410.
