Expected closing costs

There are certain basic fees associated with closing the sale of a house. These expenses are usually divided between the buyer and seller, as spelled out in the sales contract. Many are universal, but there are nuances to each, so you'll want a real estate expert in Illinois to help guide you through the process.

Costs pertaining to your loan to be paid at closing    (Details)

  • Points (optional)
  • Appraisal Fee
  • Credit Report
  • Interest Payment
  • Escrow Account

At closing, the following taxes are usually collected    (Details)

  • Property Taxes
  • Transfer Taxes and Recording Fees

At closing, these fees are often due    (Details)

  • Homeowners Insurance
  • Flood or Quake Insurance (optional)
  • Private Mortgage Insurance (PMI) (optional)
  • Title Insurance

Sellers: As we get through the details of your transaction, I'll not only work to get the very best sales price, but I'll also advocate for reduced closing costs. And once we've arrived at an agreement, I'll describe in detail the closing costs so you know exactly what you're paying for.

Buyers: If you are buying a house in Cook County, you'll receive a "Loan Estimate" (LE) of closing costs within three days of submitting your loan application. The estimate is based on the loan officer's prior experience and is required to be within a reasonable range so you're not stunned when you come to the closing table. I'll be happy to go over the LE with you, answering your questions and highlighting any estimates of concern.

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