What closing costs should you expect?

There are certain standard costs accompanying closing the sale of a house. These costs are commonly split 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 lead you through your deal.

Costs pertaining to your loan to be paid at closing    (Learn more)

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

At closing, the following taxes are usually collected    (Learn more)

  • Property Taxes
  • Transfer Taxes and Recording Fees

At closing, these fees are often due    (Learn more)

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

Sellers: As we get through the details of your deal, not only will I work to get the very best sales price, but I'll also campaign for lower closing costs. And once we've come to an agreement, I'll explain in detail the closing costs so you are informed of exactly what you're paying for.

Buyers: If you are buying a property in Cook County, you will be given a "Loan Estimate" (LE) of closing costs within three days of submitting your loan application. The estimate is based on the loan officer's past experiences and is required to be within a tolerable range so you're not startled when you show up at closing time. I'll be glad to look over the LE with you, answering your questions and highlighting any estimates that are uncertain.

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