Tax Lien/Tax Certificate Servicing
Our firm represents Illinois tax buyers as well as national tax buyers throughout Illinois. Some of our clients have small Illinois portfolios and others have hundreds of certificates. We tailor our services and fee structures based upon the needs of our clients. We provide a la carte services and full tax lien servicing from pre-acquisition consultation, to all aspects of post-sale certificate handling, payment and posting of subsequent years’ taxes, tax deed petition filing through disposition of the certificates and sale of the properties. We have clients that have used other “servicers” but chose to switch to our firm, mostly due to costs, efficiency and quality of service.
For some clients, we have structured monthly servicing fees based upon the value of the portfolio (value of certificates + plus value of subtaxes paid and posted – redemptions received). Others prefer fees based on a per-service basis.
Our fees for preparing Section 22-5 Take Notices (a/k/a the 4.5 month notice) depend on the volume we are given. Those services include 22-5 Take Notices prepared by attorneys rather than non-attorneys or administrative staff, and we automatically include extensions of the redemption period as needed.
Approximately 6 months before the redemption period expires, a tax buyer must decide whether to file a petition for tax deed, seek a sale in error, sell the certificate or proceed otherwise. We will help you decide the best course of action at that time as well as after the redemption period expires. If you decide not to seek a tax deed, there is an active market in Illinois for expired tax certificates giving you an alternative to seeking a sale in error refund.
If you would like to discuss servicing of your tax lien portfolio, please contact us. We look forward to working with you.