Maywood escrow/zoning permit bonds.
Quote on review.
A buyer who wants to close on a Maywood property before code or zoning violations are fixed can, under Code § 150.098(H), post a surety bond naming the Village as obligee in place of a cash escrow, sized to the Village-approved repair estimate. A surety specialist returns a quote, usually within one business day.
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How much does a Maywood escrow/zoning permit bond cost?
It is underwritten: the premium is quoted from the bond amount and your financial picture, so there is no flat price to show.
From failed inspection to closing day.
Maywood reviews the escrow package before it accepts any bond, so order it once the Village has approved your repair estimate. Here is the whole process on our side:
Apply online
Your name as the buyer and principal, the entity type, the property address, the bond amount from your approved repair estimate, and the effective date. No credit section.
A specialist quotes it
A surety specialist reviews the application and the repair scope and returns your premium. The penal sum comes from the Village-approved estimate; underwriting prices it and decides whether collateral applies.
Deliver the original to the Village
Your executed bond and power of attorney are prepared for the escrow package. Maywood accepts the original bond only — no faxed copies — so we mail the wet-ink original for delivery to Community Development before closing.
What it is and who needs it.
What the bond actually guarantees
Under Maywood Code of Ordinances § 150.098(A), a certificate of compliance is required before any sale or rental of property in the Village — lots, dwelling units, buildings and structures alike. The Building and Code Enforcement Department inspects the property against the Village’s building, housing, health and zoning codes, and checks for illegal conversions. If violations turn up, § 150.098(G)(5) calls for an estimate of the repair cost from a qualified (where required, licensed) person, written as an offer to do the work for a specified price and subject to the Village Engineer’s approval.
A sale can still close before the work is done. Section 150.098(H) allows a conditional certificate of compliance when either a cash deposit equal to the approved estimate is placed in escrow with the Village, or a performance or surety bond naming the Village as obligee, in the same amount, is furnished to the Building Director. The buyer signs an escrow agreement accepting responsibility for the repairs and agreeing to finish them within 90 calendar days after closing; the seller signs it too. The conditional certificate terminates on the ninety-first day. Division (G)(6) ties the conditional certificate to “the sale of property,” so confirm with the Village before counting on it for a rental.
It is a three-party arrangement: you, the buyer (the principal), the surety, and the Village of Maywood (the obligee). If the work is not finished and verified on reinspection in time, § 150.098(H)(4) and (H)(5) let the Village draw on the bond for enforcement costs — consultant, engineering and attorney fees and litigation expenses — and for fine judgments of $100 to $1,000 for each day violations remain uncorrected after the 90-day period. It is not insurance for you — if the surety pays a claim, you repay the surety.
You need this bond if you’re
Claims, renewal, filing, and what sets the price.
If a claim is made
A claim comes from the party the bond protects, the obligee named on the form, when the duty the bond guarantees is not met.
The surety investigates and pays a valid claim, up to the bond amount. You then repay the surety: a surety bond is a guarantee of your performance, not insurance for you.
Renewal and term
Term and renewal are set in the underwriter's quote.
Keep the bond in force for as long as the obligation behind it runs.
How to file it
Deliver the original to the Village. Your executed bond and power of attorney are prepared for the escrow package. Maywood accepts the original bond only — no faxed copies — so we mail the wet-ink original for delivery to Community Development before closing.
What sets the price
This bond is underwritten: the premium is quoted from the bond amount and your financial picture, so there is no flat price to show.
One application, one specialist review.
These are the actual issuing fields — no credit section, because this application doesn’t collect credit information. Enter the approved repair estimate as the bond amount and the property address, submit once, and a surety specialist returns your quote, typically within one business day. Free until your bond is issued.
Start the application →Common questions.
Other Illinois bonds.
Requirements checked on the carrier’s application, . Page updated .
Close on your Maywood property without tying up the cash.
One short application with your approved repair estimate, and a specialist quote usually within one business day. No credit review of any kind. Free until issued.