The wasserblawg features information for buyers and sellers of Chicago Area Residential Real Estate. The author is local attorney, Michael H. Wasserman.
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A home being offered for sale was the site of a grizzly murder-suicide. Is the Seller obligated to warn prospective Buyers? A recent decision from Pennsylvania held that (at least in that Commonwealth) the answer is yes. Back in 2008, we reviewed an Alaska court opinion in which a...
The tax man cometh. Cook County first installment property tax bills should be hitting mail boxes everywhere this week. The bills will be due and payable by March 1st.Taxpayers are reminded that the first installment bills are being sent out now, even though the County does not know how much is...
Homeowners are not always "out of the woods" once their home is lost to foreclosure or sold by "short sale." Foreclosures and short sales remove the mortgage lien from a property, but do not eliminate the debt described in the note or loan agreement, or it's promise...
There are a lot of great ways for real estate agents and mortgage lenders to add value to the service they give their clients. Certainly knowing ways to save clients money are always helpful. Knowing the lenders and loan programs that do so help too. These are, of course, the same...
The Cook County Recorder of Deeds has announced a $2.25 fee increase for all document recording effective January 15th, 2012. Recording a standard two page deed will now cost $52.50, up from $50.00. The fees for longer documents increase based on the number of pages the document contains.The...
We all know that the three most important factors in determining the desirability of a property are location, location, and location. As such, sharp Chicago area home buyers and the real estate professionals who advise them, are discovering - and embracing - Derek Eder's Vacant and Abandoned...
Our great City of Chicago offers many many benefits to citizens. One of the less glamorous, albeit greatly appreciated services is garbage pick-up - at least for single family homes and small multi-unit buildings.The recognized that condominium owners were paying for this service through their...
Show of hands, how many of you can name the second leading cause of lung cancer in the United States?OK, the headline was the give-away, but that would be Radon Gas.Radon is released by the decay of uranium, a naturally-occurring ore found in our soil. When released, Radon can seep...
A recently amended municipal ordinance that becomes effective on January 1st is likely to cause some headaches for unsuspecting real estate practitioners and will definitely increase fees that some of our clients are going to have to pay to effect property transfersThe City of...
Goods news this week from Washington, DC for real estate investors, and the real estate agents that represent them -The temporary waiver of FHA’s "anti-flipping" regulations has been extended through 2012."Flipping" is the industry term of art for a real estate purchase that is quickly followed by...