Conveying a Foreclosure

Notice of Foreclosure

Banks, mortgage companies, other lenders, or applicable parties sending notice of foreclosure in compliance with 735 ILCS 5/15-15039 (b): notice of foreclosure should be sent to the following address:

Village of Park Forest
Attn: Building Department
350 Victory Drive
Park Forest, IL 60466

Conveying a Foreclosed Property

To properly convey a foreclosed property in Park Forest, you will need:

  • The original Village of Park Forest Transfer Declaration, is correct and complete.
  • The original, fully executed sheriff's sale deed or judicial sales deed must accompany the Transfer Declaration form.
  • Any outstanding invoices must be paid (water, grass cutting, liens, etc.). Contact the Building Department to verify what invoices are outstanding.
  • $15 processing fee for exempt transactions.
  • Complete the Vacant Building Registration form (required for properties vacant over 60 days).

Selling a Foreclosed Property

For the sale of a foreclosed property, the following information is required:

  • Completed Change of Ownership Application, including the name and current address of the seller, buyer, and buyer's lending institution information.
  • Legible copy of the signed and dated sales contract.
  • Completed Buyer Letter regarding the purchase of the property. The form must be signed by the buyer, not the buyer's agent, and must be notarized.
  • Village of Park Forest Transfer Declaration form for this transfer.
    • Cost of the stamp is $5 per $1,000 for non-exempt transfers; $15 for exempt transfers. Transfer stamps for non-exempt transactions are payable by cash, credit card, or certified funds. We will no longer accept business or personal checks for transfer stamps. For exempt transactions, the original notarized deed is required.