Breaking Down the Closing Costs
Cost of Buying or Selling a Home in Chicago add up for buyers and sellers. Learn how the fees are determined and who pays for what.
Home Buyer Closing Costs
Appraisal: $250 – $500
Credit Report: $30 – $75 per borrower
Inspection: $350+ / visit
Lender Direct Underwriting: $750 – $1,000
Loan Processing: $150
Flood Certificate: $50-100
Tax Processing: $85-100
Attorney Fee: $600-1,000
Settlement Closing: $250-1000
Title Insurance: $250-1000
Deed Recording: $75-250
City of Chicago Transfer Stamps: $7.50/$1,000
Interest Rate Per Diem: Loan Amount x Rate/365
Escrow Taxes: 1-5 months (if applicable)
Escrow Insurance: 1-5 months (if applicable)
Home Seller Closing Costs
Commission: 6% of sales price
Title Insurance: $300-$2,000
Deed Recording: $75-250
State Transfer Stamps: $1.50/$1,000
County Transfer Stamps: $3.00/$1,000
Survey: $500-$1,000
Tax Proration: 105-110% of last tax bill
The estimated cost of Buying or Selling a Home in Chicago is COURTESY OF GUARANTEED RATE®. Prices subject to change. Actual costs vary per lender, loan amount, property type and other factors.
*Property transfer taxes vary per local jurisdiction or township. Please consult your real estate attorney to obtain the best possible estimate for taxes and other closing costs. Understand the Cook County Property Tax System.
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