Cook County and Collar Counties It is that time of year in Chicago and the Collar counties when real estate taxes become a hot topic. As most Illinois homeowners are aware, Illinois calculates and pays real estate taxes one year in arrears. In 2023, we will be paying tax bills for the 2022 tax year. […]
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Interest Rates
To many prospective homeowners’ chagrins, interest rates have been on the rise since the Summer of 2022. Many people that got into the market during that time were pleased to get an interest rate between 2-4%, which were record lows. Only a few months later, homebuyers were seeing interest rates rise into the 7% range, […]
Ethics of ‘Love Letters’: More Harmful than Harmless?
The US Fair Housing Act, Title 42 of the U.S. Code, was originally enacted in 1968, with major amendments in 1988 and 1995. The purpose of the Act is to prevent discrimination in the sale or rental of housing. Violation of the act can lead to litigation as well as sanctions, including fines and penalties […]
The Future of Cryptocurrency in Real Estate Transactions
Cryptocurrency (Crypto) or Bitcoin is a digital, virtual currency that is generally without physical coins or bills. It can be converted to cash, but currently must be sold (or bought) via a cryptocurrency exchange. Cryptocurrency falls into two main categories: coins or tokens. Some notable coin-based cryptocurrencies include Bitcoin, Ethereum and Dogecoin. Bitcoin and Ether […]
Simplify the document signing process using a Mobile Notary service!
SITUATION: You have a transferee being relocated through your corporate client’s relocation program, including the sale of the transferee’s former residence through a home sale program. The transferee and their family have moved to their new destination location so the transferee can begin work. While settling in, the transferee must also deal with the sale of […]
It’s 1099-S Time!
By Laura J. Henneberry, SCRP, SGMS-T, Morreale Real Estate Services, Inc. and Joan M. Brady SCRP, GMS, Morreale & Brady, P.C. The deadline for mailing of the 1099-S form (used in the reporting of real estate sales) is upon us. This document will be arriving soon in mailboxes near and far. What does this mean? It means […]
All About Deeds
By Laura J. Henneberry SCRP, SGMS and Joan M. Brady, CRP, GMS, Attorney In the course of any home sale relocation process, a transferring employee is asked to sign a deed. What types of deeds exist? Who signs the deed? What if the property is in a trust? Joan Brady, Managing Partner of Morreale Brady […]