With the spring season in full swing now, many more signs advertising homes for sale are likely seen throughout neighborhoods in Illinois. If you are like many prospective home buyers, you may find this time of year a good opportunity to peruse open houses and track homes via online listing sites. As you do this, you will no doubt see many real estate companies and agents associated with the homes for sale but once in a while you will even see some offered for sale directly by the owners.
Real estate agents do take a percentage of the home purchase price in the form of commission. This is essentially how they earn their living and income. Some people might think this amount is excessive and want to consider selling or buying a home without the aid of a realtor. However, Bankrate reminds consumers to proceed with caution before making this choice. A real estate sale contract is a legally binding document.
There can be many details and nuances involved in the paperwork required to make offers and counteroffers that should not be overlooked. Title reports should be carefully reviewed to protect the buyer and the lender. A real estate agent may also be useful in negotiating a lower purchase price.
If you would like to learn more about what is involved in a residential real estate sale and how working with a professional can help protect you and your future home, please feel free to visit the homebuyer’s page of our Illinois real estate law website.