Legal Question in Real Estate Law in Illinois
for sale by owner
I inherited some land that I'm selling. There will be no mortgage involved, just transfer of the title deed. Can we do this ourselves by registering the sale with the courts or do we need to get a lawyer and others involved?
2 Answers from Attorneys
Re: for sale by owner
I mean no offence by this, but asking about "registering the sale with the courts" leads me to believe you might not have a great deal of experience with Illinois real estate transactions. It might be a good idea to hire someone who can ensure the transaction is handled properly. Depending on where the property is located, you can probably find a real estate attorney to handle the entire transaction for a modest amount of money compared to how much time and effort you will expend figuring out the mechanics of it. By the same token, you can take your own tonsils out too, but unless you have some experience, it's probably not the best of ideas. On the other hand, you're asking a group of attorneys whether or not you should hire an attorney, so what do I know?
Re: for sale by owner
The short answer is yes - The buyer will require title insurance. If you would like more nfo give me a call (630) 790-6579. Thanks, JJL
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