Real Estate Contract Changes

Summary

In Illinois, significant changes to a real estate contract, such as price adjustments, often necessitate a new court order, especially when minors are involved. A Guardians Deed may be required to transfer a minors property interest. Consulting a local real estate attorney is advisable to navigate these complexities. If dissatisfied with your current attorney, seeking a second opinion could be beneficial.

Full Conversation

Real estate transaction
Hello ****, Could you please specify the location and the exact issue you are facing with the real estate transaction?
Cobden, Illinois. Im trying to close on the sale of my home. I have a signed judge order with permission to sell on behalf of my minor daughter. Now they are telling me i have to petition the court again due to contract chsnge
In Illinois, if a real estate contract changes significantly, it's common to need a new court order. This is to ensure the changes are in the minor's best interest. Consider consulting with a local real estate lawyer to guide you through this process.
Just the price changed
In Illinois, even a change in price can be a significant contract modification. It's still advisable to consult with a local real estate lawyer to ensure the process is handled correctly and in the best interest of your minor daughter.
The petition has her owning */* intrest in home but they are wanting it so its to a guardians deed
****, can you please clarify who "they" are in your statement? Also, are they suggesting that a Guardian's Deed be used instead of the current arrangement? Your responses will help me guide you better.
Yes and the title company/ abstract office
Hello ****, in Illinois, a Guardian's Deed is a common method used to transfer a minor's property interest. It is typically prepared by your attorney or the title company. However, it's crucial to confirm this with your local real estate attorney to avoid any legal issues.
Ok thank you. This is the second home ive sold with minor involved and i didn't have ussues with the 1st home and all my documents
****, was the first home you sold also located in Illinois? If so, were there any significant differences between the two transactions? This information might help me provide more relevant advice.
Yes it was also in Illinois and only difference is my oldest daughter is no longer a minor
Considering the change in your daughter's status, it's possible that the process differs. Do you have a local real estate attorney to guide you through this process?
Yes but unfortunately it seems like they keep adding documents and court cases. Im going on almost a year trying to sell my home. I keep asking for clising date. As of * weeks ago they told me they had everything they needed now thats changed.
It sounds frustrating, ****. In Illinois, legal proceedings can be complex and time-consuming. If you're dissatisfied with your attorney, it might be beneficial to seek a second opinion from another local real estate attorney.
Ok thank you for all the advice!! It has been beyond frustrating and im currently without a home to live in with this sell so time has definitely been an issue. Im mentally drained
I'm very sorry to hear about your situation, ****. It can be a stressful process, and it's important to have a good support system. Remember, you can always seek a second opinion if you feel your legal needs aren't being met. Take care of yourself.
Thank you so much!!!!
You're very welcome, ****! If you have any more questions or need further assistance, feel free to reach out. Good luck with everything.