Home Buying in Berwyn>Question Details

Bubbles, Home Buyer in Berwyn, IL

when buyer responsible for survey and stamps /escrow is this expensive?

Asked by Bubbles, Berwyn, IL Sun Nov 14, 2010

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When a buyer pays for these extra expenses that are usually the responsibility of the seller they can become costly. Stamps vary from city to city.

In Berwyn the town charges $10/$100 on top of what the county stamps $1.50 for every $1,000.

Add this to the cost of a survey approx. $400.00 the amounts add up.

Having a experienced Realtor will help inform you of all the costs associated with buying in the town. If you are looking for an agent please feel free to call me. I am a life time resident and would be happy to walk you through the process.
0 votes Thank Flag Link Wed Nov 24, 2010
In the Chicago area the state/county stamps are $1.50/$1000. So if the home is $100,000 the state/county stamps would be approximately $150. Berwyn also charges a municipal stamp which is $10/$1000. A survey runs between $400-$450.

I would have your agent give you an idea of buyer expenses....it sound like you are looking to buy a bank owned home.

I hope this helps!
0 votes Thank Flag Link Thu Nov 18, 2010
Surveys run for about $400 dollars. Stamps vary depending on where you are buying (eg. Chicago - $10.5 per each $1000 in purchase price) In most of the standard sales survey, transfer stamps (in Chicago buyer pays 50% of the stamps to move in there :) are covered by seller. In short sales/REO sales, survey is usually responsibility of the buyer. Not sure about Berwyn, but I would imagine they are somehow similar. You may want to call Village Hall to find out the exact amount.
0 votes Thank Flag Link Mon Nov 15, 2010
In most cases in Illinois, seller pays for stamps and survey. Exempt from paying for stamps are the government-sponsored Freddy Mac and Fannie May. If you buy a foreclosed property, most other banks will make you pay for stamps but will pay for the survey (if you buy a single family home)
0 votes Thank Flag Link Sun Nov 14, 2010
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