Chicago-area homeowners selling without a real estate agent can now download the free LoftusLaw Chicago FSBO Seller Starter Kit.
The kit includes Illinois disclosure forms, a pre-contract checklist, a plain-English transaction timeline, Chicagoland transfer-tax information, and a worksheet for estimating the seller’s net proceeds.
You can download the free kit here:
Download the Free Chicago FSBO Seller Starter Kit
Finding the Buyer Is Only the Beginning
Some homeowners decide to sell without a real estate agent because they already know their buyer. The buyer may be a relative, neighbor, tenant, friend, or someone who approached the owner directly.
Other sellers decide to market the property themselves to avoid paying a listing commission.
Either way, finding the buyer is only one part of the transaction.
Before signing a contract, the seller still needs to think about:
- The price and financing terms
- Earnest money
- Attorney review
- Inspection rights
- Closing date
- Property-tax prorations
- Seller credits
- Buyer-broker compensation
- Items included with the property
- Possession after closing
The seller may also need to address mortgages, liens, title problems, association requirements, municipal inspections, transfer stamps, water certifications, repairs, permits, tenants, solar agreements, or estate and trust issues.
A private sale can be simpler than a traditional listing, but it is not automatically simple.
What Is Included in the FSBO Starter Kit?
I created the Starter Kit to give Chicagoland FSBO sellers a practical place to begin.
1. Pre-Contract Checklist and Seller Worksheet
The checklist identifies the information a seller should gather before signing a contract.
It covers ownership, mortgages, liens, property condition, disclosures, repairs, permits, condominium issues, tenants, possession, and the major business terms of the proposed sale.
The accompanying worksheet gives the seller a place to record that information and identify questions that need to be answered.
2. Illinois Seller Disclosure Forms
The package contains editable and printable versions of the three disclosures commonly encountered in Illinois residential sales:
- Residential Real Property Disclosure Report
- Lead-Based Paint Disclosure
- Radon Disclosure
Not every disclosure applies to every property or transaction. The seller is also responsible for answering disclosure questions accurately rather than treating the forms as paperwork to be completed at the last minute.
3. Plain-English Transaction Timeline
What happens after the contract is signed?
The timeline walks through the major stages of a typical Chicago-area residential transaction, including:
- Contract delivery and deadline tracking
- Attorney review and inspection
- Title and mortgage-payoff work
- Condominium or association requirements
- Municipal requirements
- Financing and appraisal
- Final closing preparation
- Closing and possession
The particular contract controls the parties’ actual rights and deadlines. The timeline is intended to help sellers understand the general process and recognize where delays commonly arise.
4. Chicagoland Transfer-Tax and Municipal-Requirements Guide
Transfer taxes and municipal requirements vary significantly from one community to another.
Depending on the municipality, a seller may encounter transfer stamps, inspections, water certifications, permit requirements, zoning certifications, final utility readings, or other pre-closing procedures.
The guide contains more than 200 state, county, and municipal entries. Because local taxes and procedures can change, sellers should confirm current requirements directly with the municipality before relying on an entry.
5. Seller Net-Proceeds Worksheet
The selling price is not the amount the seller receives at closing.
The net-proceeds worksheet helps estimate deductions such as:
- Mortgage and lien payoffs
- Broker compensation, if any
- State, county, and municipal transfer taxes
- Title and legal expenses
- Property-tax prorations
- Seller credits
- Association charges
- Other closing expenses
The package includes an Excel calculator and a printable version that can be completed by hand.
Who Is This Kit For?
The Starter Kit may be useful if:
- You already have a buyer
- You are considering selling to a tenant
- You are planning a sale to a friend or family member
- A neighbor or investor approached you directly
- You are marketing the property without a listing agent
- You want to understand the process before deciding whether to sell FSBO
It may also help sellers identify issues that need to be resolved before accepting an offer.
What the Starter Kit Does Not Do
The Starter Kit provides general information and organizational tools. It does not determine whether a particular contract is fair, explain how the law applies to a particular property, or identify every issue that may affect a transaction.
A checklist cannot determine whether the buyer’s financing contingency is acceptable. A calculator cannot tell you whether the proposed tax proration is appropriate. A disclosure form cannot decide how a particular property condition should be described.
Those questions depend on the property, the contract, the parties, and the circumstances of the sale.
Get the Kit Before You Sign
The best time to organize the transaction is before signing a contract—not after a deadline has started running or a problem has appeared.
The Chicago FSBO Seller Starter Kit is available at no cost:
Get the Free Chicago FSBO Seller Starter Kit
If you already have a buyer or proposed contract, Loftus Law can also help you evaluate the terms and handle the legal work required to move the transaction toward closing.
These materials are provided for general educational purposes only and are not legal advice. Laws, forms, taxes, municipal procedures, and transaction requirements may change. Downloading or using the materials does not create an attorney-client relationship with Loftus Law.
