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Barrister
Barrister, Lawyer
Category: Real Estate Law
Satisfied Customers: 37040
Experience:  16 years real estate, Realtor. Landlord 26 years
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I am currently living in my grandparents old house (they

Customer Question

i am currently living in my grandparents old house (they passed away) and the house is in my mother's name - she would like to sell to me and is willing to back the mortgage herself (e.g. she will be the lender)
JA: Because real estate law varies from place to place, can you tell me what state this is in?
Customer: chicago, illinois
JA: Has any paperwork been filed?
Customer: no
JA: Anything else you want the lawyer to know before I connect you?
Customer: not that I can think of
Submitted: 1 month ago.
Category: Real Estate Law
Expert:  Barrister replied 1 month ago.

Hello and welcome! My name is ***** ***** I am a licensed attorney and will try my best to help with your situation. There may be a slight delay in my responses as I type out an answer or reply.

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You may also be offered a phone call, but those don’t come from me and are offered by the website and you are under no obligation to accept.

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I have read your comments, but am not sure what your legal question is?

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Are you asking how to go about buying the house from mother?

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Is there any current mortgage on it?

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thanks

Barrister

Customer: replied 1 month ago.
i am asking what is the process/paperwork needed for to purchase the house. i was planning on having a lawyer assist with the process
Expert:  Barrister replied 1 month ago.

Ok, then you just need a purchase contract, which you can get at any office supply store, or online from a site like USLegalforms.com. Then you both fill in the terms of the agreement where you are buying the property and the price.

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If you are using a local real estate attorney or closing/title company to do the closing, they will then prepare the deed, mortgage, Note, and settlement statement for you.

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Once the closing occurs, mother will sign over the deed to you and it will be recorded. You sign a mortgage and Note over to her and she records the mortgage and keeps the Note in a safe place.

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That is pretty much it other than paying the closing company or real estate attorney for their services.

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As an aside, I used to be a closing attorney for 4 different lenders..

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thanks

Barrister

Expert:  Barrister replied 1 month ago.

Hello again,

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I just wanted to touch base with you and check in.

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Did you have any further questions I can help with?

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Thanks much

Barrister

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