Closing transfer stamps

2 Replies

Hope this is the right place for my question.

I bought an apartment in Chicago through a company, and I have some doubts on the closing. As I couldn't get information neither from the company nor from the lawyer who represented me, I wanted to check whether the closing went fine. 

The deed is not recorded yet, so I'd like to see if the transfer stamps have been payed correctly. The company says that they amount to $10 (5 + 2.50 + 2.50) per every $1000 but I don't think that's correct. Is there a website where I can check transfer stamps payments, and possibly any data about a closing?

Also, which is the deadline for paying the transfer stamps?

Thanks in advance.

Originally posted by @Paolo F. :

Hope this is the right place for my question.

I bought an apartment in Chicago through a company, and I have some doubts on the closing. As I couldn't get information neither from the company nor from the lawyer who represented me, I wanted to check whether the closing went fine. 

The deed is not recorded yet, so I'd like to see if the transfer stamps have been payed correctly. The company says that they amount to $10 (5 + 2.50 + 2.50) per every $1000 but I don't think that's correct. Is there a website where I can check transfer stamps payments, and possibly any data about a closing?

Also, which is the deadline for paying the transfer stamps?

Thanks in advance.

 The deed takes some time to show up online, but you should have received a closing statement?

Buyer side tax stamps are $7.50 per $1000 - if it was a foreclosure or bank owned sometimes the buyers pays them all - but that should have been agreed to in writing before the closing - it should be outlined on your closing statement

And seller side $4.50 per $1000, total $12 per $1000, not $10, is what I know (actually numbers should be halved referring to $500 not $1000).

The closing statement I received was dated 12 July and indicated a seller which never owned the apartment according to recorded deeds, that's why I asked for explanation. There can be a reason: he's a neighbour so maybe there were transactions they didn't record because they knew each other well.

But I thought I deserved a clarification anyway.

Company says recording typically takes 2 months, can be up to 3 months. Looks a bit long to me.