Anticipated closing costs

There are certain ordinary costs related to closing the sale of a house. These costs are commonly split between the buyer and seller, as directed in the sales contract. Many are customary, but there are nuances to each, so you'll want a real estate expert in Illinois to help show you through your process.

Closing costs that are loan-related    (Click here for details)

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

At closing, the following taxes are usually collected    (Click here for details)

  • Property Taxes
  • Transfer Taxes and Recording Fees

Insurance fees due at closing    (Click here for details)

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

Sellers: As we get through the details of your deal, I'll not only work to get the highest sales price, but I'll also campaign for limited closing costs. And once we've reached an agreement, I'll fully clarify the closing costs so you are aware of exactly where your money is going.

Buyers: If you're buying a property in Cook County, you'll get 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 surprised when you reach closing time. I'll be happy to look through the LE with you, answering your questions and highlighting any estimates that are uncertain.

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