Local REALTOR® Association Working for Sellers & Buyers in Illinois

Real Estate Broker/Owner with Rice Prprty Mgmnt & Rlty, LLC, South Holland, IL 481.010183

Last fall, the City of Calumet City, in Illinois refused to issue transfer stamps for a sale of residential property as a result of the point of sale inspections.  This action interferred with the buyer purchasing the home, and the seller's attempt to close.  A lawsuit was entered in August, 2006 by the RWSSC, our local Illinois South Suburban Board of REALTORS® on behalf of this regard. 

In this past week, the courts granted favor to the seller and broker finding the closing was interfered with.   Damages can be awarded as a result of the harm caused.

This victory for the seller and buyer shows power in demonstration... another advantage for choosing a licensed REALTOR® 

Comments (2)

Dave Cheatham
INC Financial - Bartlett, IL

Diane.  This is great.  I am glad that you keep informing people of the news that you do. 

How can we use this information to get people the help they need?  Is there a grouping helping?

Side not...no paper work yet from client

Mar 20, 2007 07:31 AM

I agree with using an experiences commercial agent for transactions like this.

In the world of finance I run into clients that have been burned by using residential finance people to try and take down commercial transactions.  It seems a lot of my first time clients come to me after they have wasted months with a residential person.  Then they expect me to close it with in not very realistic time lines.

If ever you need help getting a deal funded let me know.

Apr 16, 2007 01:30 AM