Latest information on municipal pre-sale transfer requirements
On March 20th Governor Pritzker issued a “Stay at Home” Executive Order. Among the businesses which are permitted to continue operating are, “Professional services, such as legal services, accounting services, insurance services, real estate services (including appraisal and title services).”
by Mike Scobey, Illinois REALTORS®
Senior Director of Local Advocacy & Global Programs
The intent of the forgoing language is to permit the continued operation of real estate services such as brokerage and those services necessary to close real estate transactions.
With that order, what was not entirely clear was what local governments would see as their “essential services” to the public.
Our team of local Governmental Affairs Directors checked in with most municipalities in Illinois to see if they would still be processing real estate transfer tax payments and whether other point-of-transfer requirements would be performed.
The issuance of transfer tax stamps is essential for the recordation of a deed, and therefore is a prerequisite in most real estate closings.
Good news, most home rule municipalities (only home rule municipalities can impose a transfer tax) are continuing to process payments. Many of them, in an attempt to comply with social distancing requirements, made some modifications to their procedures/practices.
Get a list of the latest information we have from the vast majority of municipalities that responded.
There are a few municipalities which did not respond to our inquiries. Also, there are a few that completely shut down this service (and other services).
We will do our best to update the list when it is necessary.
About the writer: Mike Scobey is Illinois REALTORS® Senior Director of Local Advocacy & Global Programs.