The seller of property in Oak Park is required to purchase real estate transfer tax stamps before a property transfer can be completed. Each seller or seller's representative must file the following documents with the Finance Department:
In addition to a completed real estate transfer tax declaration form, an exempt stamp for a non-sale transaction requires the original deed, signed and notarized along with the statement by grantor and grantee. Photocopies are not accepted.
If the sale is a condominium unit that shares a common water meter billed to the association, a completed, notarized Condominium Association Water & Sewer Charges Affidavit form also must be filed with the Finance Department.
Transfer stamps are $8 per thousand, or fraction thereof, of the full actual contract price. The fee for exempt properties is $30.
Real estate transfer stamps will not be issued until all outstanding Village utility charges have been paid in full. The seller should order a final water reading so that the final bill is prepared when real estate transfer stamps are to be purchased. To arrange a final reading, call 708.358.5478 at least 72 hours before you intend to purchase the real estate transfer stamps. Payment for utility charges may be made with a cashier's check, certified check, money order, MasterCard, Visa or Discover card. Personal checks are not accepted.