Have 2 Buyers; Need a House!

[Obiwan711 2]

Ok. Her goes......... I have an agreement with a JV Partner on an existing home

in Rockford, IL. My C/List ad (that I currently revised) suggested Owner will consider Financing

with money down. The JV Partner doesn't want to finance, so I am actively looking for

other homes that someone would do 12 to 24 L/Option Agreement.

I actual have 2 potential buyers with about 2 to 3k as Option money available to make

a deal work! I found a home with very similar qualities as the home my JV Partner home owns.

I spoke with the "owner" of the home I am looking to take an Option on.

(She wants all cash too, but so does everyone else!)

I am CONSIDERING just putting together a NON-Exclusive option agreement together anyways,

and presenting it to her. She said she has OWNED it for 35 or 40 years!

My question here is Real Bizzare....

I went online to my county records office and i noticed (after some extensive Research) that

the ownership of said home "changed" fromk her name to someone living up North of Rockford

to Rockton, IL ( a town 15 miles N or Rockford). Anyways, the "homeowner" (I'll call her Mary Johnson) is still on Record as the Taxpayer for the Home, not the homeowner.

Before I click over to the 2006 Records for this address, it says:

Parcell ID # Parcell Location Owner's Name

xx-yy-xyz-xxyy 1234 Anywhere Ave. "Green", Michelle B Trustee

 

She probably put the home into a Trust for financial reasons or whatever.

Are dealing with Trusts more difficult than a regular home owner, or do I just offer to

buy the Home from the Trust, with the Owner of Record's name, "Green", Michelle B, Trustee?

Or..... would I need the name of the "Trust" that Michelle "Green" has Trustee rights for?

Any good suggestions welcome!

Thanks!

Bob

 

 

 

 

[MichaelC 160]

First, confirm with this woman who is now the actual owner on title. If it's another individual she transferred title to, you'll need to do business with that individual.

I'm not familiar with the specifics of IL law, but if title is in the name of a trust, you should talk with someone, a lawyer or a title company, to ask how your transaction should be approached.

[Obiwan711 2]

Agreed. I will speak to a Title Company I like to deal with here in Rockford.

Thanks,

Bob

[EQUITY NOTES 0]

Bob

 

I to live in Illinois

 

Can you help and give me the site to use for public records?

There is just a maze of listing on line, would appreciate it if you can let me know

Tom

[Obiwan711 2]

Tom,

First of all, every county is different. I live in Winnebago County.

I use two sites to figure this out from an old source.

e-mail me directly and I will give you the scoup...

Found one of the 2 sites I use to use for a different business

to find local counties' records online: www.netronline.com

Here is a more specialized link; just click on your county and BAM!....

http://publicrecords.netronline.com/state/IL/

If I find the other link, I can e-mail it to you. Hope these help!

Bob