In August, this blog discussed the question which every real estate purchaser needs to ask himself prior to the closing process, “Is title insurance necessary?” As that blog mentioned, title insurance is designed to insure the purchaser against certain defects in the title to the property. Common title defects arise from a seller claiming to…
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Chicago Real Estate Basics: The Closing
Buying a home or other real estate can be one of the most exciting (and stressful) times in a person’s life. There are myriad details that need to be paid close attention to in purchasing any piece of real estate, all of which will come together at the closing if the transaction is handled properly.…
Real Estate Closings: What You Need To Know About Closing Costs
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…
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…