Transferring Property in Chicago? Here are few things to know!
When you are about to sell a residential unit in Chicago, you need to have access to the Zoning certificate along with the water certificate. The transfers or sale of real estate properties will not be affected until these certificates are made available. If you are new to Chicago, the exact guidelines and help available can get it more confusing. So, here are a few details that would be helpful in this regard.
One of the best options would be to visit a service provider who has an excellent track record in assisting the residents in obtaining the Zoning and Water certificates. That would perhaps help you save money and efforts. The services like www.chicagopropertyreport.com can be quite helpful in this scenario as they offer quite less for getting you the Water and Zoning Certificate which are needed in case you are transferring the ownership of a property.
The Chicago Zoning certificate refers to the certificate that states the number of legal residential units within a building. The certificate is a must for selling any residential building with 1 to 5 dwelling units. The area occupied by a single family is referred to as a single unit. The certification would not be required for the commercial units as they are covered under a different regime.
These certificates, one received, are valid for a period of one year. If you have opted for one of the certificates, you can use it for a period of one year before the expiring
Likewise, water certificate is a means of applying for the final water bill. This is yet another certificate you must provide while selling or transferring the ownership of property in Chicago. Once you have made the final water bill payment, it will be indicated that you have paid off all your pending bills with respect to the water and the water meter account will be transferred to the new owner or party.
The City of Chicago needs one of the following documentation to certify a water account:
You may be asked to provide a few other documents as well – depending upon the exact type of dwelling units are being transferred or sold.
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