Illinois process · seller view

The Illinois Home-Selling Process: Your Step-by-Step Checklist

Selling a home in Illinois has a few twists most other states don't, from the state-required disclosure report to the 5-business-day attorney review period common in Chicagoland.

Reading as seller. Switch to buyer

Phase 1 of 7 · typically 2-6 weeks

Pre-Offer

Getting ready to list. You'll pick a listing agent, sign the paperwork, complete the state-required disclosures, and prep your home for the market.

  1. Interview listing agents and sign a listing agreement

    Your agentBefore your home goes on the market

    Talk to 2-3 listing agents about their marketing plan and commission. In Illinois, commission rates are fully negotiable, and your listing agreement must spell out what your broker will charge and whether they'll share any compensation with the buyer's broker. After the NAR settlement took effect on August 17, 2024, offers of buyer-broker pay cannot appear in MLS data fields, but you can still offer compensation outside the MLS if you choose.

    You'll need

    • Property deed
    • Recent mortgage statement
    • Photo ID

    Cost: $0

  2. Sign the written agency disclosure

    Your agentBefore signing the listing agreement

    Under Illinois law, your broker must give you a written agency disclosure before you sign a listing agreement or before they start showing your property. This explains how they represent you and what designated agency means if their firm ends up representing both sides of the deal.

    Cost: $0

  3. Complete the Illinois Residential Real Property Disclosure Report

    YouBefore accepting any offer

    Fill out the state-required disclosure form covering 23 specific items like roof condition, basement water, plumbing, electrical, environmental issues, and any other defects you actually know about. You must give this completed form to the buyer before they sign an offer — not after.

    You'll need

    • Records of past repairs
    • Any prior inspection reports you have

    Cost: $0

  4. Complete the Illinois Radon disclosure

    YouBefore the buyer makes an offer

    Illinois requires you to disclose any known radon hazards or past test results AND inform the buyer of their right to test for radon before closing. Use the Illinois EPA's approved disclosure form — both you and the buyer will sign it.

    You'll need

    • Past radon test results, if any

    Cost: $0

  5. Federal lead-based paint disclosure (homes built before 1978)

    YouBefore the buyer signs the contract

    If your home was built before 1978, federal law requires you to give the buyer a lead paint disclosure form, the EPA pamphlet 'Protect Your Family From Lead in Your Home,' and a 10-day window to inspect for lead before they're locked into the contract. Illinois follows the federal rule — there's no separate state lead disclosure.

    You'll need

    • Any past lead inspections or assessments

    Cost: $0

  6. Hire a real estate attorney

    AttorneyBefore you accept an offer

    In the Chicagoland area, it's standard for both sides to hire their own real estate attorney. Your attorney will negotiate during the attorney review period, look at the title commitment, draft or review closing documents, and either run or attend your closing.

    Cost: $500-1500 typical

  7. Set a price and prep your home for listing

    Your agent1-3 weeks before listing

    Work with your agent on a list price using recent comparable sales in your neighborhood. Then deep-clean, declutter, fix small cosmetic issues, and get professional photos before your home goes on the MLS.

    Cost: varies

  8. Request condo or HOA documents if your home is part of an association

    YouAs soon as you list (or earlier)

    If you're selling a condo, you'll need to request the Section 22.1 disclosure package from your condo association — they have 30 days to provide it. If you're in a townhome or planned community with an HOA, you'll need a similar disclosure package under Illinois's Common Interest Community Association Act.

    You'll need

    • Association contact info
    • Your unit/lot number

    Cost: $200-400 typical for the package

Phase 2 of 7 · typically 1-3 weeks after listing

Offer

Offers start coming in. You and your agent review each one, run the math, and negotiate to a signed contract.

  1. Review offers with your agent

    Your agentAs offers come in

    Look at every offer carefully — not just the price. Pay attention to the financing type, contingencies, earnest money amount, closing date, and any seller credits the buyer is asking for. Sometimes a slightly lower offer with fewer contingencies is the stronger deal.

    Cost: $0

  2. Compare net proceeds for each offer

    Your agentBefore accepting an offer

    A higher price doesn't always mean more money in your pocket. Have your agent run a net sheet that subtracts your mortgage payoff, agent compensation, attorney fees, and Illinois transfer taxes so you can compare offers apples-to-apples.

    You'll need

    • Current mortgage payoff estimate

    Cost: $0

  3. Verify the buyer's financing

    Your agentBefore accepting an offer

    Ask for the buyer's pre-approval letter or proof of funds, and have your agent confirm it looks legitimate. A strong financing letter from a reputable lender — or proof of cash — is one of the best signs the deal will actually close.

    You'll need

    • Buyer's pre-approval letter or proof of funds

    Cost: $0

  4. Negotiate price and terms

    Your agent1-7 days after receiving an offer

    Counter as needed on price, closing date, repair credits, included items (appliances, fixtures), or possession date. Your agent will go back and forth with the buyer's side until you reach a deal or move on to another offer.

    Cost: $0

  5. Sign the Multi-Board Residential Real Estate Contract

    Your agentWhen you accept the offer

    Most Chicagoland sales use the Multi-Board Residential Real Estate Contract, published jointly by the Chicago Association of REALTORS and Illinois REALTORS. It covers price, earnest money, contingencies, the attorney review window, closing date, and possession. Make sure your agent confirms you're using the current version.

    You'll need

    • Photo ID

    Cost: $0

Phase 3 of 7 · typically 1-2 weeks

Under Contract

The clock starts the moment the contract is signed. Attorney review, earnest money, and title work all kick off in the first few business days.

  1. Survive the 5-business-day attorney review period

    AttorneyFirst 5 business days after the contract is signed

    Under Article 41 of the Multi-Board Contract, both sides' attorneys have 5 business days from the date of acceptance to propose changes or disapprove the contract. Stay reachable — your attorney may need quick decisions on modifications coming back from the buyer's side. A disapproval notice from either side voids the contract and returns earnest money to the buyer.

    Cost: $0 (included in attorney fee)

  2. Confirm earnest money was deposited on time

    Your agentWithin 1-2 business days of contract signing

    Illinois requires the broker who receives earnest money to deposit it in the managing broker's federally insured trust account within 24 hours (or the next business day if it's a weekend or holiday). Have your agent confirm the buyer's earnest money is in the trust account.

    Cost: $0

  3. Deliver any remaining disclosures

    YouAs soon as the contract is signed

    If you haven't already given the buyer the Residential Real Property Disclosure Report, the Radon disclosure, or the lead-paint disclosure (for pre-1978 homes), get those over now. Illinois law gives buyers specific rescission rights if the seller misses certain disclosures, so don't drag your feet.

    You'll need

    • Completed disclosure forms

    Cost: $0

  4. Coordinate ordering the title commitment

    Escrow / titleWithin 1 week of contract signing

    Your attorney or agent will order the title commitment from a title company licensed by the Illinois Department of Insurance. The title company runs a search to confirm you can deliver clean title and identifies any liens, judgments, or other clouds that need to be cleared before closing.

    You'll need

    • Your deed
    • Current mortgage info

    Cost: varies (often paid at closing)

Phase 4 of 7 · typically 1-2 weeks

Inspection

The buyer inspects the home. You'll respond to whatever they find — repairs, credits, or in rare cases, a cancelled deal.

  1. Allow the buyer's home inspection

    Inspector1-2 weeks after acceptance

    The buyer will hire their own home inspector to walk through your property, usually within 5-10 business days of contract acceptance. Make the house easy to access — clear the attic and basement hatches, leave utilities on, and crate or remove pets for the day.

    Cost: $0 (buyer pays)

  2. Allow the buyer's radon test

    InspectorDuring the inspection window

    Under the Illinois Radon Awareness Act, the buyer has the right to conduct a radon test before closing. Plan to avoid disturbing the test kit for the 48 hours or so it's running, and don't open windows or run extra fans in the test area.

    Cost: $0 (buyer pays)

  3. Review the buyer's inspection response

    Attorney5-10 days after the inspection

    After the inspection, the buyer's attorney will send a written response asking for repairs, a credit at closing, or a price reduction. You don't have to agree to everything — your attorney will help you decide what's worth doing and what to push back on.

    You'll need

    • Inspection report (if buyer shares it)

    Cost: $0

  4. Negotiate repairs or credits

    AttorneyWithin 7-14 days of acceptance

    Counter the buyer's requests through your attorney. Most Illinois sellers offer a closing credit instead of doing repairs themselves — it's cleaner, faster, and avoids fights over the quality of the work after the fact.

    Cost: varies

  5. Sign the inspection rider closing out the contingency

    AttorneyAfter repair negotiations are settled

    Once you and the buyer agree on inspection items, both sides sign a written rider amending the contract. After it's signed, the inspection contingency is gone and the deal moves on to the loan and appraisal phase.

    Cost: $0

Phase 5 of 7 · typically 2-4 weeks

Loan & Appraisal

The buyer's lender appraises your home and finalizes their loan. Your job is to cooperate and to be ready if the appraisal comes in low.

  1. Cooperate with the buyer's appraiser

    Other2-4 weeks after acceptance

    The buyer's lender will send an appraiser to your home. They're confirming the property is worth at least the contract price so the lender can approve the loan. Make sure the home is clean and accessible — appraisers don't fail homes for clutter, but a tidy home shows well.

    Cost: $0 (buyer pays)

  2. Provide upgrade info if the appraiser asks (or if you come in low)

    Your agentIf the appraisal comes in low

    If the appraisal comes in low, your agent may want to send the appraiser supporting comparable sales — especially if your home has features the appraiser might have missed. Pull together photos, upgrade lists with dates and costs, and any recent neighborhood sales your agent flagged.

    You'll need

    • List of upgrades and improvements with dates and approximate costs

    Cost: $0

  3. Address a low appraisal

    AttorneyWithin 3-5 days of receiving the appraisal

    If the appraisal comes in below the contract price, you typically have three options: lower the price to match, ask the buyer to make up the difference in cash, or split the gap. Your attorney and agent will help you decide what's realistic to push for given the market.

    Cost: varies

  4. Stay off the market until financing is locked

    Your agentThrough loan-clearance

    Don't pull your home off the market early or stop accepting backup interest without checking with your agent. Loan approval isn't final until the lender clears the buyer 'to close,' which usually happens just a few days before closing.

    Cost: $0

Phase 6 of 7 · typically 2-4 weeks before closing

Pre-Closing

Final paperwork lining up before the closing date. Association disclosures, mortgage payoff, transfer taxes, and any title objections all get squared away here.

  1. Order the Section 22.1 condo disclosure (if you're selling a condo)

    YouAt least 30 days before closing

    If you're selling a condo and haven't already, formally request the Section 22.1 disclosure package from your association in writing. They must produce it within 30 days. The package includes the declaration, bylaws, budget, balance sheet, reserve fund status, and your unpaid assessment balance.

    You'll need

    • Written request to the association

    Cost: $200-400 typical

  2. Get the HOA disclosure (if your home is in a non-condo association)

    YouAt least 30 days before closing

    For townhomes and planned communities not covered by the condo act, the Common Interest Community Association Act requires you to give the buyer a disclosure showing regular and special assessments, the status of any litigation, the reserve fund balance, and a copy of the declaration, bylaws, and rules.

    You'll need

    • Association contact info

    Cost: $100-300 typical

  3. Get an official mortgage payoff statement

    Attorney2-3 weeks before closing

    Your attorney or title company will order an official mortgage payoff letter from your lender that's good through the closing date. This number — including the daily per-diem interest — goes on your closing statement so the title company can wire your lender exactly the right amount.

    You'll need

    • Current mortgage account number

    Cost: $0-50

  4. Plan for Illinois transfer taxes

    Attorney1-2 weeks before closing

    Illinois charges a state transfer tax of $0.50 per $500 of sale price (usually paid by the seller) under 35 ILCS 200/31-10. Cook County adds another $0.25 per $500. Many municipalities tack on their own — and Chicago has one of the highest local transfer tax structures in the Midwest, though the Chicago piece is historically buyer-paid.

    Cost: Roughly 0.1%-0.3% of sale price (varies by city)

  5. Handle FIRPTA if you're a foreign seller

    AttorneyAt least 3-4 weeks before closing

    If you're not a U.S. person for tax purposes, federal law requires the buyer's closing agent to withhold 15% of the gross sale price and send it to the IRS as prepayment of your U.S. tax. Reduced rates and exemptions apply for primary-residence purchases under $300K-$1M. Talk to your attorney or a CPA well before closing — getting a withholding certificate takes time.

    You'll need

    • Tax identification
    • Proof of residency status

    Cost: varies

  6. Clear any title objections

    Attorney1-3 weeks before closing

    The title company will list anything that needs to be resolved before closing — old liens, judgments, name-change documents, or outdated mortgage releases that were never recorded. Your attorney works with the title company to clear each item.

    You'll need

    • Lien release records (if applicable)
    • Divorce decrees or name change docs (if applicable)

    Cost: varies

  7. Plan utility transfers and final readings

    You1 week before closing

    Schedule final water, gas, and electric readings on or near the closing date. In Illinois closings, prorations for property taxes, utilities, and association dues are calculated to the day, so any unpaid amounts come off your proceeds at closing.

    You'll need

    • Utility account numbers

    Cost: $0

Phase 7 of 7 · typically 1 day

Closing

Closing day. You sign, the deed transfers, transfer taxes are paid, and your proceeds get wired to your account.

  1. Allow the buyer's final walkthrough

    Other1-2 days before closing

    The day before or morning of closing, the buyer and their agent will do a final walkthrough to confirm the home is in the agreed-upon condition. Make sure any agreed-upon repairs are done and that the property is broom-clean and empty of anything not staying with the home.

    Cost: $0

  2. Attend the closing

    Escrow / titleOn closing day

    At an Illinois closing, you typically sign with your attorney at the title company's office. The buyer often signs a separate set of papers in another room. Bring a government-issued photo ID and a voided check if you want your proceeds wired.

    You'll need

    • Government photo ID
    • Voided check for proceeds wire
    • Keys, garage remotes, and association fobs

    Cost: $0

  3. Sign the deed and closing documents

    AttorneyAt closing

    You'll sign the deed transferring the property, the closing statement showing every dollar of the transaction, the seller's affidavit, the bill of sale for any personal property included, and the transfer tax declaration. Your attorney will explain each document before you sign.

    Cost: $0

  4. Pay state and county transfer taxes

    Escrow / titleAt closing

    At closing, the seller typically pays the Illinois state transfer tax ($0.50 per $500 of sale price) and any county transfer tax. Cook County adds $0.25 per $500. These amounts come out of your closing proceeds — you don't write a separate check.

    Cost: Roughly 0.1%-0.15% of sale price for state + Cook County

  5. Hand over keys and possession

    YouAt or shortly after closing

    Once funds are confirmed and the deed is recorded, deliver all keys, garage door openers, mailbox keys, and association fobs. The Multi-Board Contract spells out the exact possession date — sometimes it's at closing, sometimes a few days after with a use-and-occupancy fee.

    You'll need

    • All keys, fobs, and garage remotes

    Cost: $0

Sources

  1. [1] Real Estate License Act of 2000—225 ILCS 454/10-20
  2. [2] NAR Settlement FAQ—MLS Policy Statement 8.0
  3. [3] Chicago Department of Finance—Real Property Transfer Tax
  4. [4] Illinois Real Estate Transfer Tax Act—35 ILCS 200/31-10
  5. [5] Illinois Condominium Property Act—765 ILCS 605/22.1
  6. [6] IRS FIRPTA Withholding—26 U.S.C. § 1445
  7. [7] Common Interest Community Association Act—765 ILCS 160/1-35
  8. [8] Illinois Radon Awareness Act—420 ILCS 46/25
  9. [9] Illinois EPA Radon Program—Disclosure Forms
  10. [10] Real Estate Transfer Tax Act—35 ILCS 200/31-10
  11. [11] Illinois Department of Revenue—Real Property Transfer Tax
  12. [12] Real Estate License Act of 2000—225 ILCS 454/15-25
  13. [13] Chicago Association of REALTORS—Multi-Board Contract Article 41 Attorney Review
  14. [14] Illinois REALTORS—Contract Forms and Attorney Review Provisions
  15. [15] EPA—Real Estate Disclosures About Potential Lead Hazards
  16. [16] HUD Lead Disclosure Rule
  17. [17] Residential Real Property Disclosure Act—765 ILCS 77
  18. [18] Chicago Association of REALTORS—Multi-Board Contract Resources
  19. [19] Illinois REALTORS—Standard Forms and Contracts
  20. [20] Residential Real Property Disclosure Act—Rescission Rights 765 ILCS 77/55
  21. [21] Illinois Land Title Association—Consumer Resources on Title Insurance
  22. [22] IDFPR Division of Real Estate—Trust Account Rules 68 Ill. Admin. Code 1450.755

Last updated May 15, 2026