Who can sign
Often, an independent estate representative can sell estate property without a separate court order, as long as the sale follows the will and serves the estate’s interests. If the will specifically leaves the house to someone, that person’s written consent is required for this independent-administration sale. In supervised administration, a sale may need probate-court permission. A valid transfer-on-death instrument may pass the property outside probate.
The deed, will, and appointment papers determine who can sign and what is needed to close.
Illinois transfer taxes
For a taxable transfer, Illinois charges 50 cents for each $500 of taxable value, or part of $500. A county can add 25 cents for each $500, and some cities impose their own transfer taxes. Exemptions and taxable value can change the amount. The property’s actual county and city determine which local taxes apply.
When you sell to us, we pay the closing costs, including the Illinois state, county and city transfer taxes.
Your mortgage, liens, back taxes, and share of current property taxes are separate from our closing-cost payment.