Updated over 11 years ago on . Most recent reply
tax deed - cook county IL
I have a questions regarding the process. Lets say that I bid on the outstanding tax and I am successful in doing so, meaning I bid close to 0% and I won, lets say the outstanding tax amount was $150 (tax for parking space for example). I will receive certificate of purchase. I will have to pay additional fee of 10+100+80+10 = $200 per PIN. Then I will start the process to obtain the tax deed. I will have to pay county fees to file various petitions, then I will have to pay attorney fees to do everything correctly. So lets say I am out $2000 to process that one PIN. What happens if the owner wakes up and decides to redeem the taxes ? all I will receive back is the original tax amount correct ? the owner will not refund anything related to attorney/filling fees ? is that correct ?
Statutory fees applicable to each purchased delinquency include: (a) $10.00 Publication fee (35 ILCS 200/21-135); (b) $100.00 Sale in Error Fund fee (35 ILCS 200/21-330); (c) $80.00 Indemnity Fund Fee (35 ILCS 200/21-295(a-5)); and (d) $10.00 Automation fee (35 ILCS 200/21-245).