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Does The Property Your Client Wants Have Delinquent Taxes?

by Stephanie Sims

Before your clients make an offer on their dream home, make sure no delinquent taxes are owed.

Before your clients make an offer on their dream home, make sure no delinquent taxes are owed.

If your client is worried about delinquent tax bills, fear  not – there is now a database to look such things up. Buyers of residential and commercial properties in Cook County can now search an online database to find out if any outstanding tax bills exist on any properties they’re interested in, according to the Chicago Tribune.

The database, which we’ve linked to in this article here, will also help serve attorneys, title companies and lenders in transactions, and should help reduce traffic and phone calls to the Cook County clerk’s office; the office receives about 80,000 visits and 96,000 phone calls about these bills each year.

The Chicago Tribune reports that the database will be updated daily, and currently has 222,670 residential and commercial properties with more than $912 million delinquent taxes. These properties include sold properties, forfeited properties and properties showing unpaid taxes for the last 20 years.

What to do if you discover your client’s dream home has some taxes owed? Prospective buyers can order an “Estimate of the Cost of Redemption,” on the property, which is owed taxes plus penalties, at the Cook County clerk’s office in Chicago or in writing. So, the database can help you discover delinquent taxes, but you might still need to visit the clerk’s office for the full report if your client just can’t live without that home.

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