The Mississippi River might seem like a huge barrier between Missouri and Illinois, but it’s actually less than a mile wide. The two states share a lot of traits, especially in terms of real estate. If you have ever considered buying a home across the river—whether that means going east into Illinois or west into Missouri—the real estate process is mostly the same. But there are a few differences worth noting.
As we write this, real estate is experiencing a strong seller’s market. Not only is it easy to find a buyer in almost every part of the country, but bidding wars are also common. But before sellers get too excited about their profits, they need to remember that they won’t simply walk away with the sale price minus the balance left to pay on their mortgage. They must also consider seller closing costs.