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Customary Stamp Program First American Title can press the easy button for you by obtaining the municipal stamp for you post-closing. To take advantage of this service, all municipal requirements are met by you or the closing parties prior to closing. The Specifics: 1 All inspections must be completed prior to closing and municipal paperwork needed to purchase the stamp must be provided at closing. 2 Municipal transfer tax is added to the Settlement Statement and collected at closing. 3 Additional municipal costs paid outside of closing may be added to the Settlement Statement and reimbursed to you or a directed party. 4 Municipal stamp is obtained post-closing by First American Title. 5 Due to municipality variances, this service is not applicable for all municipalities. For availability, see Municipal Transfer Listing document on our website: www.il.firstam.com. An asterisk (*) denotes the included municipalities. 6 $50 Municipal Stamp Procurement Fee is added to the Settlement Statement and collected at closing.
Elite Stamp Program First American Title can press the EASY ELITE button by satisfying the municipal requirements for YOU and obtain the stamp pre-closing. This includes completing municipal transfer declaration forms, providing an advance to pay outstanding water bills, municipal liens, etc. The Specifics: 1 First American Title reaches out to you via email on each transaction to detail the requirements/timelines so municipal requirements are met. 2 S ome documentation may need to be provided by you or the closing parties. (e.g., original/copy deed, MyDec, etc.) 3 You or the closing parties may need to coordinate and provide buyer/seller executed original signatures on municipal documents.
4 M unicipal stamp is obtained pre-closing by First American Title based on the estimated settlement date you provide us.
5 You may decline this service on a file-by-file basis, or we can exclude certain municipalities for you all together. 6 To prevent delays, provide information requested in a timely manner. If the information is not received within an allotted time frame, your sales representative will let you know that the process cannot move forward. 7 $150 Municipal Stamp Accommodation Fee is added to the Settlement Statement along with any prepaid
NOTE: If the closing does not take place within 30 days from estimated settlement date, you will be required to reimburse First American Title for any paid expenditures.
expenditures and collected at closing. 8 City of Chicago is excluded from the Elite Stamp Program. 9 A one-time signed authorization and consent form is required.
If interested in the Elite Stamp Program, please contact your sales representative.
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