Legal Question in Wills and Trusts in Illinois

I plan to buy a house in Illinois that is being sold through probate. The attorney asked me to bring a cashier's check for the full price of the house to closing. Is it standard practice to pay full price at closing even though the judge still has to approve the sale? I thought 10% down was sufficient.

Asked on 8/13/13, 7:23 am

2 Answers from Attorneys

Henry Repay Law Offices of Henry Repay
0 users found helpful
0 attorneys agreed

I believe something is being misunderstood. At the contract stage, a percentage or flat amount would usually be designated as earnest money. At closing, the completion of the deal, yes, you would be expected to pay the balance, either yourself or with the help of a mortgage loan. At that point, however, court approval, if necessary, should be complete. The title company should be assuring you that has been addressed by removing the exception from the title commitment. Speak with your attorney again to clarify. If you are speaking with the seller's attorney and do not have your own, I highly recommend you consider representation.

Read more
8/13/13, 7:52 am
Virginia Prihoda Law Offices of Virginia Prihoda
0 users found helpful
0 attorneys agreed

I think you should hire yourself an attorney to represent you at the real estate closing. How much money are you spending on this property? It's probably a significant sum relative to your family net worth. A small sum paid to an attorney can help you make sure your investment is appropriately secure.

Read more
8/13/13, 8:36 am

Related Questions & Answers

More Probate, Trusts, Wills & Estates questions and answers in Illinois

Looking for something else?

Get Free Legal Advice

8822 active attorneys ready to answer your legal questions today.

Probate, Trusts, Wills & Estates Legal Forms

Browse and download our attorney-prepared and up-to-date legal forms from $4.99

Find a Legal Form

Featured Attorneys

Anthony RoachLaw Office of Anthony A. RoachChatsworth, CA
Phillip D. Wheeler, Esq.Phillip D. Wheeler, Attorney At LawMorro Bay, CA
Terry A. NelsonNelson & LawlessRiverside, San Bernardino, CA
Find An Attorney

Are you an Attorney?

Earn additional revenue and grow your business. Join LawGuru Now