Closing Costs

Closing Costs

(312) 421-1000 Chicago and I’ll aid you to understand all the expenses and identify any mistakes. (312) 421-1000 There are certain standard fees linked to 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 conventional, but there are nuances to each, so you’ll want a real estate expert in Illinois to help guide you through the deal.

Closing costs that are tied to your mortgage    (Details)

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

At closing, the following taxes are usually paid    (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 negotiate your sale, not only will I work to get the highest sales price, but I’ll also campaign for reduced closing costs. And once we’ve reached an agreement, I’ll explain in detail the closing costs so you are aware of exactly what you’re paying for.

Buyers: When purchasing a home in Cook County, you’ll be given a “Good Faith Estimate” (GFE) 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 an appropriate range so you’re not astonished when you reach the closing appointment. I’ll be happy to review the GFE with you, answering your questions and highlighting any estimates in question.

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