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Loren
Loren, Lawyer
Category: Real Estate Law
Satisfied Customers: 33512
Experience:  30 years of real estate practice experience.
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I'm selling my property in illinois buyer has an addendum

Customer Question

I'm selling my property in illinois buyer has an addendum stating buyer will be paying all standard seller closing costs. Does that include my property taxes?
JA: Because real estate law varies from place to place, can you tell me what state this is in?
Customer: Illinois
JA: Has anything been filed or reported?
Customer: I don't understand your question
JA: Anything else you want the lawyer to know before I connect you?
Customer: No
Submitted: 2 months ago.
Category: Real Estate Law
Expert:  Loren replied 2 months ago.

I am Loren, an Illinois licensed attorney for over 30 yrs. Thank you for your patience as I review the question. I will post my response shortly.

Expert:  Loren replied 2 months ago.

Does the contract contain a provision for the proration of real estate taxes?

Customer: replied 2 months ago.
This is a cash offer. Where would I find it on contract?
Expert:  Loren replied 2 months ago.

There should be a provision with a heading for "Real Estate Taxes" or "Prorations"

Expert:  Loren replied 2 months ago.

I attempted to accept your phone call request and received the following message:

"Payment for this service failed, please do not fulfill yet. We will attempt to reach this customer to fix the situation."

If you can resolve the problem (it is usually just a matter of confirming with your bank or credit card that the charge is authorized) I look forward to speaking with you.

Otherwise, I am happy to continue online with you.

Customer: replied 2 months ago.
I updated
Expert:  Loren replied 2 months ago.

Still getting error message. You may need to confirm with the bank that the charge is authorized.

Expert:  Loren replied 2 months ago.

Are you still online with me?

Customer: replied 2 months ago.
I updated card
Expert:  Loren replied 2 months ago.

I suspect the bank is blocking the charge. Check for a fraud alert from the bank.

Expert:  Loren replied 2 months ago.

I am happy to continue online with you, if you prefer.

Expert:  Loren replied 2 months ago.

Are you still online with me?

Customer: replied 2 months ago.
I can't find the real estate taxes on contract. This is as is purchase for cash buyer is in Florida
Expert:  Loren replied 2 months ago.

Can you upload the contract?

Customer: replied 2 months ago.
What's your email
Expert:  Loren replied 2 months ago.

Just upload it here using the file attachment button.

Expert:  Loren replied 2 months ago.

The button that looks like a paper clip.

Customer: replied 2 months ago.
I don't know how???
Expert:  Loren replied 2 months ago.

Try making another phone call request. If there is fraud alert let the bank know it is an authorized charge.

Customer: replied 2 months ago.
It's telling me its on your end
Expert:  Loren replied 2 months ago.

I am not an employee of JA. Just a site user like you. I have no access to your account info or payments and the system does not let me accept a phone call request without a payment authorization. My experience is that when there is a payment failure it is because the charge triggered the credit card's fraud alert.

Expert:  Loren replied 2 months ago.

If your credit card is saying it is JA's end then you must be entering the wrong number, date or cvv code.

Customer: replied 2 months ago.
I just added the contract and addendum
Customer: replied 2 months ago.
Did you receive contract and addendum
Expert:  Loren replied 2 months ago.

The real estate tax prorations are located at paragraph 10. The percent has not been filled in.

Customer: replied 2 months ago.
What about addendum
Expert:  Loren replied 2 months ago.

The real estate taxes are addressed in the provision I pointed out and are the seller's charge because they accrue currently, but are not billed until the following year. They are a seller's charge to the closing date, just the same as the electric bill is.

Expert:  Loren replied 2 months ago.

Since you do not know what the 2017 taxes will be, as they are not billed until next year, you will give a credit at closing based upon the most recent bill as a reference point.

Expert:  Loren replied 2 months ago.

Did you have further questions? Have I answered your question?

Customer: replied 2 months ago.
in the provisions what should it state
Expert:  Loren replied 2 months ago.

The blanks should be filled in.

Expert:  Loren replied 2 months ago.

Are you still online with me?

Expert:  Loren replied 2 months ago.

Did you have further questions? I am happy to continue if you do.

Expert:  Loren replied 2 months ago.

If you have no further questions please remember to rate my service (5 Stars) so that I am credited by JA for answering your question and also so that I may close the question.

There is no additional charge to you for a 5 star rating of my service.

Thank you!