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Showing posts from December 27, 2012

CHANGES COMING AT THE CITY OF CHICAGO WATER DEPARTMENT?

Changes afoot at the City of Chicago, Department of Water Management may be having (adverse) impacts on real estate closings.  Over the course of the last several weeks, I have seen an uptick in closings being delayed as some Sellers are finding it harder to some required paperwork from the City. One source described a six week backlog for some certification requests. At least two contracts have been outright cancelled because of the delays. Buyers simply could not, or would not wait any longer.

In order to close on home purchase or sale involving Chicago real estate, the Sellers must present a "Full Payment Certification" to show that the water bill is current. These certificates are typically obtained directly from the water department's basement lair at the DePaul Center, 333 South State Street. If you have never been there, the offices are uninviting, inhospitable, and doing business there has long been (for my, anyway) unpleasant. Slow and unfriendly to say the leas…