the wasserblawg

  Court Clobbers Kayaker. Concludes Competitor's Contiguous Keep Cannot be Crossed by Michael H. Wasserman The sun sets majestically. You take another sip of lemonade. Your attention focuses on the gentle wind blowing thru the trees. The noise of water coursing along river at the far end of the property. The blissful payoff for a long long week at work. The calm evaporates when you open the letter – a cease and desist order from a neighbor’s lawyer. You are directed to stay off their property. This puzzles you. You’ve been here three months and never once set foot on their land, barely even know which place is theirs. You haven’t been to any neighbors yet. Just the new place and the river. And this, my friend was your downfall. The neighbor does not want you to boat past his place. Turns out, owning riverfront property does not necessarily confer access right upstream or down. The neighbors might have a thing or two to say about it too. In these circumstances, absent permission, t...

The streak is over. Closing lawyers and owners who do not escrow for property taxes celebrate. We are often asked - when will Cook County 2nd installment property tax bills come out? For most of my career, the best answer was a shrug of the shoulders and a warm smile. None of us knew. Mail-out dates were erratic. Theoretically due out July 1st billing. Rarely that early. Erratic. Unpredictable. August? Maybe. September? As late as November - once, anyway. Your guess as good as mine. But for nine years running tax bills were released online in late June (often the 30th). Due August 1st or there-abouts. Consistency is to be appreciated in most contexts, but especially stressful for closing lawyers and title company escrow officers. Unpaid taxes are allocated between buyers and sellers at closing and June 30th is one of our busiest days in the business. Tax bills data released early in the morning mean last minute revised computations, revised closing statements, further lender reviews a...

Cook County tax bills are due March 2nd by Michael H. Wasserman "'Tis impossible to be sure of anything but death and taxes." Christopher Bullock's infamous quote still rings true, some 300 years later.  Cook County tax bills are due March 2nd Cook County's 2020 First Installment property tax bills are due March 2nd. Surrounding counties will be due soon enough too. Thankfully, while none of us can avoid death, there are a few ways to save money on property taxes...which might make living a little sweeter. We are talking here are 2020 property tax bills that we will all need to pay this year, in 2021. Exemption eligibility is determined as of January 1st, 2020 . If you closed on property last year, you can certainly check the former owner’s status and ride on his or her coat-tails. You will not be eligible to claim exemptions you may qualify for yourself. Check out all the property-tax exemptions currently available for Cook County homeowners. Scroll below to f...

Set aside any discussion of climate change or COVID for a moment. It’s winter. It’s Chicago. It snows. As a homeowner, you owe it to your friends, family, neighbors and delivery people to keep the sidewalks free of snow and ice.

by Michael H Wasserman Our day to day focus in this office is to facilitate safe, secure, and pleasant closings for our clients when they buy and sell real estate. We work very hard to assure success and to solve the problems that get in the way of our shared objectives. We are always on the lookout for ways to make the process even easier. We spend an inordinate amount of time on improving the system and the client experience.  Like many other businesses, we see the year's end as a time of reflection. We step back from the day to day work and try to appreciate the results of our efforts. To consider our achievements and to express our deepest gratitude to everyone we work with. We thank the other deal participants, our referral partners and we consider how fortunate we are that so many hundreds of families entrust us us on work on their real estate deals. We can do none of this without them. We cannot do any of this without you. We appreciate all of you. Our hearts are full. ...

by Michael H. Wasserman Steve Schneider I’m not sure how you spent your Memorial Day weekend, but if you are in the market to buy a new home in or around Chicago, you very likely spent much of it out and about looking at new homes. By all accounts real estate activity right now is quite strong despite a limited available inventory of homes to choose from. Buyers seem to be re-energized right now and the effects have been staggering. Most buyers who have contacted me this week have won out or are still engaged in bidding wars over properties they like. Brokers are reporting the clients are back out, looking at 5-10 homes before making offers. Our initial fears of the COVID-19 pandemic seem to be waning. Confidence in our Realtors’ ability to keep us safe and secure in the house hunting process is increasing. We have seen more new contracts come into the office in the past seven days than we had in the preceding three weeks combined. If you are a seller waiting on the sidelin...

by Michael H. Wasserman The two-bedroom, Lakeview condo seemed huge when Meg and Cary first moved in 10 years ago as newlyweds. That was two dogs and two daughters ago. Before the stay-at-home order. Before COVID-19. The small house movement may be “a thing,” but Meg and Cary are living proof that small houses are not all that they are cracked up to be. Especially now that they have all been cooped up together for the last two months. Every useable surface is covered by school projects, computer electronics, pet toys, and kid toys. Meg laughs to herself nervously. “I guess everyone’s home must feel small by now but there just isn’t enough space here. Is this a dining room or a “school?” Is Cary working in the living room or his office? Am I sleeping in my bedroom or my office”? The is once spacious home is getting smaller and smaller by the hour. Hopefully, Jan will call soon. It’s Monday afternoon and Meg has been trying all day not to think about it. She cannot help check...