Last week, this blog discussed a series of frequently asked questions regarding the process of real estate closing. However, in the weeks or months leading up to the closing, there are a number of tasks that must be completed to ensure the closing goes smoothly. Indeed, once a buyer chooses a property he or she wishes to…
Chicago Real Estate Closings: What Basic Documents Purchasers/Borrowers Need To Understand?
Over the last couple weeks, this blog has discussed a few of the aspects of the real estate closing process that both purchasers and sellers of property alike should be familiar with. Perhaps the most important part of the closing process for the purchaser is the review and execution of the various documents associated with the loan…
Real Estate Closings: What Is Title Insurance And Is It Necessary?
Over the last few months, this blog has discussed several key aspects of the real estate closing process that are important for both buyers and sellers to understand. One question which is sure to arise during the closing process is “Do you want to purchase title insurance?” Most people have no idea what title insurance…
What Property Owners Need To Know About Property Taxes – Tax Assessments
As this blog has discussed before, one thing all property owners have to look forward to twice a year is paying their property taxes. We previously outlined the way in which Cook County collects property taxes each year, mentioned that they are paid in arrears, and even demonstrated how each installment payment is calculated. However, another…
Cook County Property Taxes And Real Estate Transactions
They say that only two things in life are certain, death and taxes. Here in Cook County, Illinois, the County Treasurer oversees the second-largest property tax collection and distribution system in the United States. According to the Treasurer’s Office, it collects more than $11 billion each year in taxes from owners of over 1.7 million…