All Forum Posts by: Vincent Incopero

Form for the state:

https://www.cyberdriveillinois.com/publications/pd...

Form for the IRS: 

https://www.irs.gov/pub/irs-pdf/f8822b.pdf

Keep in mind that you must have a physical location within IL and a registered Agent to accept service of process in IL.  If you need any additional assitance, feel free to pm me 

Plenty and I'll be happy to put you in touch with my Illinois clients that have and are currently closing with them.

Your lender will not be able to obtain a clean title insurance policy with the outstanding bv and the title company cannot insure over the pending proceedings because there is no way to estimate the potential fines associated with the bv. You need an attorney in addition to the contractor. 

So you're going to have to eat the fines, get proper permits and build within those restraints. Are you looking for a general contractor or a specific tradesmen? 

What's the nature of the violations?

Happy to assist. Feel free to contact me at your convenience! 

I'm happy to assist. 

@Dale Stevens has summarized the state of affairs quite well.  Basically, Tenants hold property hostage once they have taken possessions, regardless of the existence or term of a lease.  This shouldn't be a reason to stray away, but a consideration if you are going to enter this segment for the first time.  IMO, the only LL friendly properties are cemeteries. 

@Adam Soyak  as @Nate Shields @Alex Bok  and @Felipe Uribe have said, I would advise my client to list immediately. 

+1@Mike B. Those remaining issues can be resolved in attorney review. Unless you are going to see ROI on the remaining issues I would forego and list as is.

Lastly, as is the case in the sale of new construction, you can create a punch list with a prospective purchaser for those remaining items that need to be completed/repaired post closing.  If the buyer's attorney so requires, proceeds of the sale can be held in escrow to provide for the completion of the outstanding repairs.  The resale market is still strong, why wait?!? 

@Juan Mendoza

Check out the link below, it should help answer most of your questions.  As an attorney, I was exempted from taking the course (3 years of law school > 90 Hour RE Class), so I cant be of much more assistance... 

IMO taking some community college courses on business, RE, finance, sales & marketing would probably serve YOU better than getting some administrative exposure an assistant for the next 2 years.  All of these RE Brokerages have on boarding where they teach you how to be an "INSERT OFFICE NAME" Realtor.  

@Juan Mendozahttp://documents.goamp.com/Publications/candidateHandbooks/ILREP-handbook.pdf