Residential Real Estate Sale

Smooth Closings. Maximized Proceeds.

Selling a home in Illinois involves more than just finding a buyer. As the seller, you carry the legal burden of delivering “Clear Title.”

From calculating complex property tax prorations to ordering the survey and drafting the Deed, Wang Law PLLC manages the entire legal side of the transaction so you can focus on your move.

The Seller’s Roadmap

1. Attorney Review & Inspection

We receive the contract from your realtor. We negotiate terms to limit your liability and handle buyer requests for repairs credits. Our goal is to keep the deal alive without giving away your equity.

2. Title & Survey

As your attorney, we order the Title Commitment and the Land Survey (required in Illinois). We work to clear any old liens, judgments, or title defects before the closing date.

3. Mortgage Payoff & Muni Docs

We order your “Payoff Letter” to satisfy your existing loan. We also handle local municipality requirements, such as transfer stamps, water certifications, and zoning inspections.

4. The Closing (Remote)

Good news: Sellers rarely need to attend closing in person. You pre-sign the Deed and Bill of Sale with us. We attend the closing, exchange keys for the check, and wire your proceeds.

⚠️ Understanding Illinois Property Taxes

In Illinois, property taxes are paid in arrears (e.g., in 2025, we pay the 2024 tax bill).

At closing, you must give the buyer a credit for the time you lived in the home during the unpaid tax year. We calculate this strictly to ensure you don’t overpay, typically negotiating the proration rate (e.g., 105% or 110%) during attorney review.

Special Expertise: Foreign Sellers

If you are a foreign national selling U.S. property, you are subject to FIRPTA (Foreign Investment in Real Property Tax Act).

Without proper legal planning, the IRS requires the buyer to withhold 15% of the gross sales price. Wang Law PLLC helps eligible clients apply for withholding certificates or structure the sale to minimize this impact.

1031 Exchange?

Selling an investment property? We can coordinate with a Qualified Intermediary (QI) to defer your capital gains taxes through a Section 1031 Exchange.

Discuss Your Strategy