Legal Question in Real Estate Law in Illinois
Wife is POA for 92 yr old step mother who broke hip & is now in nursing home with Medicaid pending in Rockford Illinois. State wants home ( title clear ) listed by a realtor. Home is in bad neighborhood and disrepair. A realtor looked at it & said they take minimum $3000 commission. Advised us that she would list home at $12,000 & hope for $9k or $10k. Must we list or can we sell to private investor AS IS for $10k ? Or should we absolve ourselves & tell state to take it and sell it themselves ?
Thank you in advance
1 Answer from Attorneys
This is more complex than you may realize, and there may be options you are not being advised of. For instance there may be an eligible transferee for the home (including a caregiver relative who was in residence for 2 years...). And if application was made at the home, it is always possible that the information given was not complete since the intake individual doesn't necessarily learn all of the family situation. Please, see an elder law attorney before you simply give up. That being said, generally the government expects a market sale via a listing; trying to prove it was not a 'sweerheart deal' below market is not something you want to deal with.
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