Real estate taxes for Illinois purchase and sale transactions can be confusing. When buyers and sellers meet at the closing table, they have to deal with one large conundrum. Because property taxes are paid in arrears (meaning that we pay … Continue reading →
As a real estate attorney, I hear it all the time! “The buyer of my downtown Chicago condominium is pre-approved”. That statement usually leads a real estate seller to a bunch of questions like “why does the condo buyer want … Continue reading →
The following information is a guest blog from my friend Matthew Ewald who is a mortgage broker for 1st Advantage Mortgage. You can find more information about Matt and how he can help real estate purchasers on his website or … Continue reading →
Many potential home buyers looking to purchase real estate in Chicago are unaware of potential property tax issues that could affect their pocketbooks after they purchase. 2016 will be a very interesting year when it comes to real estate taxes … Continue reading →
Property owners throughout Cook County should be receiving the 2015 Homeowner’s Exemption Booklet in their mailboxes this week. The mailing includes an application for the the three most common Cook County property tax exemptions: the Homeowner Exemption, Senior Homeowner Exemption, … Continue reading →
The City of Chicago Full Payment Certificate for Water For every real estate closing that takes place in the City of Chicago, a seller must produce a “Full Payment Certificate” from the City’s Department of Finance indicating that all water … Continue reading →
TRID and the CFPB Most Chicagoland home buyers and sellers have some awareness of TRID and the CFPB. TRID is the “TILA-RESPA Integrated Disclosure”. TRID replaced the old Real Estate Settlement Procedures Act and Truth in Lending Act rules in … Continue reading →
For Sale By Owner For lots of reasons, many folks don’t want to hire a real estate agent to list their home for sale. Whether it is a hot seller’s market, a desire to avoid the extra cost of a … Continue reading →
All smart Buyers want to be prepared for their real estate closing. While every purchase transaction is different, most purchasers will need roughly the same things at their closing. This list is by no means complete and can vary from … Continue reading →
Today, the Cook County Treasurer’s Office website is indicating that the first installment of Cook County real estate tax bills for 2015 are now available. Usually, the bills come out in February, so this release is quite early this year. … Continue reading →
