Legal Question in Real Estate Law in Illinois
I am on the deed to my mother's home who has passed away. I would like to sell the home to a family friend for a small amount, the property is not woth much. How do I go about transferring the property and creating an agreement between me and the person who wants to buy the property? I live in PA and the home is in IL
3 Answers from Attorneys
Feel free to email me for greater detail. But more or less it would be a traditional buy/sell except since it sounds like you know and have found this buyer you would be able to eliminate a real estate brokerage commission. But otherwise you should have a contract, title insurance, and a formal closing. If the property's in the Chicago area I could surely help you out. Will the buyer be getting a mortgage? That will partially dictate the level of formality necessary.
You will have to actually sell the house to your family friend. If you need assistance putting together the agreement and completing all the paperwork necssary for the closing, please feel free to contact me.
You should contact a real estate attorney in the county where the real estate is located.
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