Selling a home in Chicago goes more smoothly when you understand the key documents before you list. Here are five to review.

1. The listing agreement

This is your contract with your listing broker. It sets the compensation, the length of the listing and each party's responsibilities. Commissions are negotiable. Read the terms carefully, including how and when you can end the agreement, and ask what marketing the broker will provide.

2. Disclosure reports

Illinois sellers of one- to four-unit residential property generally must complete the Residential Real Property Disclosure Report. Radon disclosure is also required, and homes built before 1978 require lead-based paint disclosures. Be honest and complete: disclose known material defects, such as a roof that leaks. Candid disclosure builds trust and reduces the risk of disputes after closing.

3. Title

The title commitment shows your ownership and any liens or claims against the property. Reviewing title early lets you address problems, such as an old mortgage that was never released or a contractor's lien, before they delay closing.

4. The purchase contract

Most sales use the Multi-Board Residential Real Estate Contract. Review the price, contingencies and dates carefully. The buyer's financing and inspection contingencies affect your timeline. Your attorney can propose changes during the attorney review period.

5. The settlement statement

The settlement statement lists the sale price, payoffs, transfer taxes, prorations and fees. Review it before closing so nothing is a surprise. In Chicago, sellers typically pay the state and county transfer taxes and the CTA portion of the city tax. Estimate yours with the transfer tax calculator.

Final thoughts

Understanding these documents protects your interests and keeps the sale on schedule. See seller representation or schedule a consultation.

By Attorney Shara Kamal. General information for Illinois readers; not legal advice for a specific situation.