I’ve always said I like tough transactions. I love the challenge. I love finding solutions.
And while this one was particularly demanding, it was right in my wheelhouse—the kind of deal I genuinely enjoy working on. And thankfully, I have the team to back me up to make sure transactions like this get done.
This one came down to the wire: a closing in just 48 hours. Here’s how we pulled it off.
Three Title Companies, One Solution
The title issues were immediate. I reached out to three different title companies—I’m an agent for several, and I could have gone to more if I had to.
The first one said we’d have to jump through hoops we simply couldn’t manage. The second said they couldn’t clear the title at all. But the third? They said, “Give us the right documentation, and we can work with it.” Once I provided what they needed, we were good to go.
The Clock Was Ticking
Then I was told the buyer’s loan lock would expire in two days. That meant we had 48 hours to close, or the deal was off. No pressure, right? My team was absolutely phenomenal. We knew exactly what needed to be done and stayed on top of every moving part.
Hurdle After Hurdle
Of course, there were delinquent taxes, which meant I had to order an estimate of redemption.
That process isn’t exactly instant. And when there are unpaid taxes, title companies typically want 1.5 to 2 times the known amount held in escrow. So yes, I had to handle that too.
To make things even more interesting, my client was out of state. All the closing documents had to be signed and returned fast. Thank God for FedEx.
We also had to get transfer stamps from the municipality. And then came the question: Where was the earnest money? Turns out it had gone missing in the shuffle. The buyer had to come in with the money a second time and then retrieve the original deposit from their broker.
Not Everyone Would Take This On
Let’s be honest—most attorneys wouldn’t have touched this one. Or if they had, they would’ve backed out at the first sign of trouble. Me? I saw an opportunity to solve a complex problem for a client who needed help fast.
We made it happen. And it reminded me why I love this work.
The Minchella & Associates Difference
With over 40 years of experience in Illinois real estate law, Erica Minchella has represented thousands of home sellers and buyers, landlords, and commercial and investment property owners. For more information, schedule a consultation today.
