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Goreville : Real Estate Advice

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  • Home Buying1
  • Home Selling3
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Activity 6
Tue Aug 25, 2015
Jackie Stinchfield answered:
Unfortunately, it is a possibility. A lien is a claim against the property which serves as collateral for a debt. The lien holder has the legal right to go to court to have the property sold to satisfy the debt, if it is not paid. Liens have priorities, so that when the property is sold, higher priority liens are paid before lower priority liens. The liens transfer with the property, so if they are not paid when the real estate is sold, then the new owner becomes liable for the debts.

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Wed Jul 22, 2015
Jeff Nobleza answered:
There's a lot of cash out there. It is possible a buyer with cash put in an offer that was verbally accepted before you submitted your offer. I have represented sellers in the past where we received more than 10 cash offers on the same property in as little as 48 hours.

Jeff Nobleza
At Properties
773 677 5340
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Tue Jun 19, 2012
James Ryan answered:
With 10K down, you should be able to find some nice homes, however, for 10K total, I am guessing there is not much inventory.

Best wishes, Jim
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Wed Apr 18, 2012
Wendy Alamia asked:
We have a 1 acre lake front lot on Lake of Egypt, Illinois and did have it listed with a realtor but no offers. We want to advertise it and sell it ourselves and have a website…
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Fri May 20, 2011
Ranj Mohip answered:
Generally, the sale of real estate must be in writing to satisfy Illinois law. There are exceptions depending on the actions of the parties. Contact me if you'd like to discuss this further.

The information in this answer is general information and is not intended as legal advice, nor do I intend to create an attorney-client relationship with any reader by answering this question or otherwise contributing as a member of Remember, consult the best real estate attorney in Chicago or in your respective area.
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Tue Oct 6, 2009
Don Tepper answered:
I'm not a lawyer, so this isn't legal advice. For legal advice, see a lawyer. However . . .

First, it's unclear whether you mean a verbal agreement to list your home with an agent, or whether you mean you agreed to sell your home verbally.

In either case, though, a verbal agreement in real estate is legal but unenforceable. It sounds more as if you were discussing a listing agreement with an agent and may have agreed verbally to list it, but you didn't sign any paperwork. If that's the case--and, again, I'm not a lawyer--then you and the agent do not have an agreement and you aren't bound to use that agent in order to sell your home.

Hope that helps.
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