Selling your Downers Grove home and heard there’s no village transfer stamp? That’s true, and it can save you a line item at closing. But skipping key state, county, and municipal steps can still delay your sale or add surprise costs. In this guide, you’ll learn exactly what you must handle in Downers Grove, how Illinois transfer taxes work, and the timeline that keeps your closing on track. Let’s dive in.
What “no transfer stamp” really means
Downers Grove does not charge a municipal real estate transfer tax, so you will not buy a village transfer stamp at closing. That said, the Village requires a final water meter reading and payment of the final water bill as part of the transfer process. Title companies and attorneys typically verify this before closing to avoid recording delays. You can confirm the no‑stamp rule and final water note in the municipal listings used by closing professionals (ATG municipal list for Downers Grove).
State and county taxes you still pay
Even without a village stamp, Illinois and county transfer taxes still apply to most sales in Downers Grove. Illinois charges $0.50 per $500 of the sale price, and counties commonly add $0.25 per $500. These are collected at recording through revenue stamps or their electronic equivalent (Illinois Department of Revenue overview).
Who usually pays the stamps
By typical Illinois practice, sellers pay the state and county transfer stamps unless the purchase contract says otherwise. Your closing statement will show who is responsible based on your agreement (ATG guidance on who pays).
PTAX‑203 and MyDec in Illinois
Most deeds must be accompanied by the Illinois Real Estate Transfer Declaration, known as PTAX‑203. This form feeds tax and assessment data and drives the stamp calculation. Many counties use the MyDec platform to prepare and authorize the declaration electronically. Your title company or attorney will usually prepare and submit it, but accuracy matters because errors can delay recording (PTAX‑203 instructions, MyDec overview).
Downers Grove steps you cannot skip
Schedule your final water meter read
Contact the Village to schedule a final water meter reading and be ready to pay the final bill before closing. Some municipalities require several business days’ notice and certified funds, and final bills may only be valid for a short window. Schedule early to avoid delays or a utility shutoff for the buyer (see this example of final read timing and payment rules from a nearby city for context: final reading overview).
Clear municipal liens and permits
Unpaid utilities, code violations, mowing charges, or open permits can result in municipal liens and closing hurdles. Ask the Village about any compliance letters available, and close out open permits before closing when possible. Title and attorneys often check municipal status, but starting early saves you time (ATG municipal notes).
Confirm payment methods and timing
Many municipalities require certified funds for final amounts and will not accept personal checks. Confirm what the Village requires, how long the final bill remains valid after the reading, and how proof of payment will be shared with your title company.
Seller disclosure and document checklist
Use this list to stay organized and prevent last‑minute issues.
- Illinois Residential Real Property Disclosure Report. Deliver the state disclosure to buyers for most 1–4 unit residential properties, and update it if new information arises before closing (state disclosure reference).
- Federal lead‑based paint disclosure for homes built before 1978. Provide the EPA/HUD pamphlet, disclose known information, and include the required warning statement. Buyers get a 10‑day testing window unless waived (EPA lead disclosure rule).
- HOA or condo resale documents. Order these early to meet timelines and avoid delays.
- Open permits and inspections. Verify and close any open permits or violations with the Village.
- Title, survey, and liens. Review the title commitment, request mortgage payoffs, and resolve any liens early.
- Utilities. Plan cancellations or transfers for the closing date, and align meter reads with your final water bill.
- Property taxes. Confirm tax status and expected prorations for the closing statement.
Timeline to a smooth closing
30 to 45 days before listing or immediately after going under contract
- Order a preliminary title report and review for mortgages and liens.
- Pull Village permit history and address any open items.
- If the home is pre‑1978, assemble lead records and the EPA pamphlet.
- If there is an HOA or condo, confirm the resale packet process and fees.
14 to 7 days before closing
- Schedule the final water meter reading and confirm payment method and validity window.
- Request payoff letters for mortgages and confirm tax and HOA prorations.
- Ensure your closing professional prepares PTAX via MyDec and arranges stamp payment.
Day of closing and right after
- Confirm PTAX submission, stamp payment, and deed recording with the settlement agent. Keep copies for your records.
- Cancel or transfer utilities per the settlement instructions.
Cost snapshot for planning
Here is how the state plus typical county transfer taxes add up, using the common combined rate of $0.75 per $500, or $1.50 per $1,000:
- $300,000 sale: about $450 in transfer taxes.
- $500,000 sale: about $750 in transfer taxes.
- $750,000 sale: about $1,125 in transfer taxes.
These are estimates based on how consideration is reported on PTAX and any exemptions. Your title company will compute the exact amounts on your closing statement (IDOR transfer tax overview). Remember to budget for other seller costs like mortgage payoffs, prorated taxes and assessments, title and recording fees, and the negotiated commission.
Avoid delays and penalties
Recording can be rejected if PTAX is incomplete or incorrect, or if municipal amounts remain unpaid. Missing items can trigger extra fees or leave the buyer without utilities on move‑in day. Coordinate early with your title company or attorney and the Village water department to keep everything on schedule (IDOR guidance on transfer declarations).
Ready to sell in Downers Grove?
You can skip the village transfer stamp, but not the steps that keep your closing smooth and on time. If you want a clear plan, local guidance, and confident execution from list to close, connect with Angela Walker to get started.
FAQs
Do I need a village transfer stamp to sell a home in Downers Grove?
- No. Downers Grove does not charge a municipal transfer tax, but you still need a final water meter reading and to pay the final water bill before closing (ATG municipal list for Downers Grove).
How much are Illinois and county transfer taxes for a Downers Grove sale?
- Illinois charges $0.50 per $500, and counties commonly add $0.25 per $500. On a $500,000 sale, that totals about $750 in transfer taxes (IDOR overview).
What is PTAX‑203 and who completes it for my sale?
- PTAX‑203 is the Illinois Real Estate Transfer Declaration used to calculate transfer taxes and report data. Your title company or attorney typically prepares and files it, often through MyDec (PTAX‑203 instructions).
What municipal steps should I complete before closing in Downers Grove?
- Schedule your final water meter reading, pay the final water bill, and close out open permits or municipal violations. Ask about compliance letters if available (ATG municipal notes).
Who usually pays transfer taxes in Illinois home sales?
- Sellers usually pay state and county transfer stamps in Illinois unless the contract assigns them differently (ATG guidance).
What happens if forms or bills are not handled before recording?
- The recorder may reject the deed, and utilities could be shut off for the buyer. Accurate PTAX and paid municipal amounts help prevent delays (IDOR transfer declaration guidance).
