Facts, Trivia and Tidbits (of valuable information)...
Q: What is an SSA?
A: This term generally refers to a financing technique that allows the cost of a subdivision's
continuing maintenance costs to be borne by the subdivision itself, rather
than the village as whole. This funding is added to an individual's property
tax bill, and is only for the cost of maintaining the subdivision's public
areas. It is not a fixed amount, and cannot be paid off because
maintenance is a continuing expense.
Q: What is title insurance?
A: Title Insurance is a policy issued by an insurance company guaranteeing that
the title to a parcel of real property is clear and properly in the name of the title
owner, and that the owner has the right to convey or sell the property to another.
Q: What is a deed and why do I need one?
A: A deed transfers ownership from one party to the next, so if you are buying a property,
you need one. There are actually three types of deeds...1) A "full covenant" or
"warranty deed" guarantees that no other person owns or has claims to a property.
2) A bargain and sale deed is only used in some states. It does NOT guarantee that
the property is free and clear of any claims. 3) A quit claim deed transfers interest in
a piece of property from one owner to the next. This type of deed again does not
guarantee that the property being transferred is free and clear of outside claims.
Q: What is dual agency?
A: Dual agency occurs when a real estate agent represents both sides in a real estate
transaction. If you are involved in this type of transaction, before writing or receiving
an offer, you will be asked for your consent to this type of agency. Consent must be
in writing. Dual agency law is always changing...if you have any questions about it,
please contact Sandee and Clint.
Q: What types of agency exist?
A: Lots of types of agency exist. A seller's agent is totally responsible to the seller of
a given property. A seller's agent is only allowed to reveal material facts about a property
to a potential buyer. A buyer's agent is responsible only to the buyer in a given transaction.
This type of agent may pass on to the buyer any and all information they obtain from the
seller and/or about the property. Dual agents are, again, responsible to both parties in a
transaction. Other types of agency also exist. Contact us for details.
Q: Which Lake County town has the lowest crime rate?
A: For all of 2004 (according to the Chicago Tribune), these were the 15 towns with the lowest
crime rates (ranked from lowest up): Hawthorn Woods, Lindenhurst, Barrington Hills (partial),
Deerfield (partial), Lake Forest, Tower Lakes, Kildeer, Buffalo Grove (partial), Highland Park,
Round Lake Heights, Island Lake (partial), Mundelein, Round Lake, Fox River Grove (partial)
and Winthrop Harbor. The town with the highest crime rate? Gurnee.
Q: How many people live in Lake County and where is the county seat?
A: As of 2000, the population of Lake County was 644,356. The County Seat is
the city of Waukegan.
Q: What is a Township?
A: A subdivision of a County having the status of a unit of local government with varying
governmental powers.
Q: What is a Municipality?
A: A municipality is an urban district having corporate status and self government. More generally,
it simply means people living in a town or city which has self government.
Q: What is a town?
A: A town is an urban area with a fixed boundary that is smaller than a city. In other words, it
is a place where people live that does not rank as a city.
Q: What is a village?
A: A village is a community of people smaller than a town.
Q: What is a city?
A: A city is a large and densely populated urban area. It is differentiated from a town, village or
hamlet by population density, size, importance or legal status.
Q: How many towns and/or cities are in Lake County?
A: Lake County has over 50 cities and villages. Each has it's own government structure and elects
it's own officials. Land outside of a city or village's boundary is considered unincorporated
Lake County.
Q: Who are the largest employers in Lake County?
A: The largest employers include the Department of the Navy, Abbott Laboratories, Hewitt
Associates, Motorola, Kemper Insurance, Baxter Healthcare Corporation, Six Flags Great
America and more.
Lake County Trivia....Lake County is the wealthiest county in Illinois, with a median household
income of $66,973. It is also the state's third most urban county.
Lake County Trivia...Their are 18 townships in Lake County. They are: Antioch, Avon, Benton,
Cuba, Ela, Fremont, Grant, Lake Villa, Libertyville, Moraine, Newport, Shields, Vernon, Warren,
Wauconda, Waukegan, West Deerfield and Zion.
Lake County Trivia....Lake County grew quite a bit in the 20th century, and it continues to grow.
It 1900, the population of Lake County was 34,504. In 2000, Lake County had 644,356 residents.
Lake County Trivia....Lake County was created by the Illinois State Legislature in 1839.
At that time, it was still home to it's native Potawatomie Indians. Lake County's first
permanent settler was Captain Daniel Wright.
Lake County Trivia....There are 19 libraries in Lake County.
Cook County Trivia...In 2005, Cook County had an estimated 5,303,683 people.
Cook County Trivia...The population of Cook County dropped by approximately 1.4% between
April 1st, 2000 and July 1st, 2005.
Cook County trivia...As of 2000, Cook County was the second largest county by population in the
United States. Chicago makes up 54% of the population of the county.
Cook County Trivia...Chicago is the County Seat of Cook County.
Cook County Trivia...Cook County was created on January 15th, 1831, by an act of the
Illinois State Legislature.
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