Real Estate Closing Checklist - Illinois real estate law - chicago real estate lawyer - real estate closings chicago

BUSINESS LAW CHICAGO

Real Estate Closing Checklist


Contract

Diary attorney approval date and closing date

Order title commitment

Survey

Deed

Bill of sale

Affidavit of title

Schedule of leases

Assignment of leases

Assignment of contracts

Estoppel letters

Utility letters

Payoff letter for mortgage

Condo letter

- right of first refusal

- assessments

- water bill

Certificate of insurance

Closing statement

Power of attorney

Grantor/grantee affidavit

City transfer tax declaration

County transfer tax declaration

State transfer tax declaration

Water certificate (not needed for condo)

Zoning certificate

Affidavit of heirship

Death certificate

Commission statement

Personal information affidavit

Joint tenancy affidavit

ALTA statement

Seller's Social Security number and FEINs

Photo I.D.

Keys

Termite inspection

General inspection

Mortgage contingency


Attorney approval contingency

Lead paint disclosure

RIPTA disclosure

Environmental phase I

Soil test

Structural tests

Utility readings and name changes

Move-in letters and elevator reservation

Move-out arrangements and payments

Tax bill

Seller identification

Letter of direction to land trustee

Trustee's deed

Trustee's ALTA

Trustee's pay proceeds letter

Mortgage

Note

Mortgage disclosures

How will buyer take title

Buyer's and seller's marital status

Tenant leases

Tenant estoppel letters

Financial statements of seller

Tax returns of seller

Buyer's insurance and certificate

Condo association insurance and certificate

Condo association minutes and financial statements and statements of contemplated work and assessments

Financing statement search

Tax lien and judgment search of seller

Corporate records of seller

Waiver of homestead rights

Determine costs including broker commissions

Check closing time and date with clients, lawyers, lender, brokers and title company and make appointment and confirm with lawyers, lender, brokers and clients

Get releases for all mortgages, liens and other matters of record.

Builder's warranty for new construction

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Donald Thompson * Chicago Real Estate Closing Law - 55 W. Monroe #3950; Chicago, IL 60603
Ph: 312-782-0844 * Fax: 312-201-1436 * Email:
donthompsonlaw@sbcglobal.net