Search Madison Real Estate Transactions
FAQ about Real Estate Transactions
What are real estate transactions?
When a buyer purchases real estate from a seller, and a deed (a legal document) is executed or transferred, this document becomes a permanent part of the public record.
How is the purchase price on a real estate transaction determined?
The information found in the real estate transactions that you read in the newspaper or online is generated from the deed document. The purchase price is calculated strictly from the deed document and the transfer fee, not from the purchase price recorded by agents. The fee is generally a set amount per $1,000 transferred and varies by community. The transfer fee on the deed generally reflects the accurate purchase price of the property.
There are many exemptions and conditions that may increase or reduce the fee charged when the document is recorded. For example, if someone executes a quitclaim deed or trust, the fee for that transaction could be less than the fee for a normal transaction.
Are the real estate transactions that you see in the paper legal notices?
Absolutely not. Most newspapers run real estate transactions for reader interest. There is no binding or legal requirement to publish real estate transactions for reader interest. If there is a price difference that you are aware of, do not worry. It will have no effect on your property taxes or any aspect of your property.
Why are you allowed to publish real estate transactions?
Real estate transactions, like many other categories of information, fall into the public record that has existed since the birth of our nation. Bankruptcies, foreclosures, and many other forms of legal filings are all part of the public record.
Will my real estate transactions appear in the newspaper or online?
Public records are picked up by thousands of companies across the country and abroad. Many newspapers publish complete lists of real estate transactions. Sometimes space is limited and not all transactions can be published. Regardless of your transaction being published or not, it will still be part of the public record.
Is there any way I can keep my real estate transaction out of the public record?
Many people set up trusts in an effort to maintain privacy on certain information about a transaction. A trust designates another representative, such as a bank or trust company, that is the name recorder on the deed for all pertinent documents. If you feel this is an option for you, please contact your attorney.
If the information in the newspaper or online is listed as incorrect in terms of an address, etc., who should I contact?
Presenting public records requires keypunching data, so there’s always the possibility that the information may be typed incorrectly. Mistakes may originate on the county level or with companies working from print records.
The best option is to first verify the information with the county recorder’s office in which the property was sold. They may ask you to come in to accomplish this. It is always a good idea to double check this information. Just as it is good to look at your credit report periodically, it is a good idea to check your public records for mistakes.
Here is a list of all the county recorder offices and their contact information for your convenience:
COOK COUNTY RECORDER’S OFFICE
Eugene M. Moore, Cook County Recorder
118 N. Clark Street
Chicago, Illinois 60602
DUPATE COUNTY RECORDER’S OFFICE
J.P. “Rick” Carney, DuPage County Recorder
421 N. County Farm Road
Wheaton, Illinois 60187
KANE COUNTY RECORDER’S OFFICE
Lynda M. Rivers, Kane County Recorder
719 S. Batavia Avenue
Geneva, Illinois 60134
KENDALL COUNTY RECORDER’S OFFICE
Paul Anderson, Kendall County Recorder
111 W. Fox Street
Yorkville, Illinois 60560-1675
LAKE COUNTY RECORDER’S OFFICE
Mary Ellen Vanderventer, Lake County Recorder
18 N. County Street
Waukegan, Illinois 60085-4358
MCHENRY COUNTY RECORDER’S OFFICE
Phyllis K. Walters, McHenry County Recorder
2200 N. Seminary Avenue, Room A280
Woodstock, Illinois 60098
WILL COUNTY RECORDER’S OFFICE
Mary Ann Stukel, Will County Recorder
58 E. Clinton Street
Joliet, Illinois 60432
Transaction information is provided by Record Information Services, Inc., providers of public record and marketing data throughout Chicago. Record Information Service’s lists include real estate transactions, mortgages, businesses, newly filed bankruptcies, foreclosures, judgments and lis pendens, building permits, state and federal tax liens, divorces, mechanic liens, felonies, criminal misdemeanors, felonies, DUIs, suspended & revoked licenses, and forcible detainers.
Record Information Services is a for-profit company, and not a government agency. The information provided is gathered from Illinois counties, the State of Illinois, and federal government public record sources. The information is considered reliable, but is only as good as the public record. The accuracy and completeness of the information contained in the company’s databases or reports will not be guaranteed by Record Information Services. Record Information Services is not responsible for incomplete or inaccurate information. No part of this online service or any other reports produced by Record Information Services may be reproduced, resold, or transmitted in any form without the express written consent of Record Information Services.
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