Home Selling in Evanston>Question Details

mike gentile, Home Seller in Evanston, IL

Am doing a FSBO, how can I estimate my closing costs?

Asked by mike gentile, Evanston, IL Sun Sep 8, 2013

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Estimate is the best you can do until you talk to your attorney. There are many issues to take into account. I suggest you ask your lawyer because it depends on where you are closing, the title insurance and other factors. Most lawyers representing a client selling property will give the seller the option to not attend the closing and pre-sign the documents which give power of attorney to the counsel.
To make a long story short and accurate we need to know how much you sold your property for and other sensitive questions to give an accurate answer.
Talk to your lawyer in advance.
Good luck
0 votes Thank Flag Link Sun Sep 22, 2013
Your title company and attorney can tell you what the closing costs are. If you are doing this by owner, you should ensure that you have the advice of a real estate attorney right away so you don't break any laws. There are a lot of rules with real estate and if you don't have professionals working for you, you could get in trouble.
0 votes Thank Flag Link Mon Sep 9, 2013
2% give or take. The first thing you need is a real estate attorney. They will guide you and order title etc. keep in mind that most serious buyers have a buyers agent. It may be worth paying that agent 2.5% to have a smooth transaction.
0 votes Thank Flag Link Sun Sep 8, 2013
Even as a For Sale by Owner you will still need an attorney to handle the title and document work I would ask that person for an estimate. Let me know if you need a recommendation for a great real estate attorney.
0 votes Thank Flag Link Sun Sep 8, 2013
Mike, You would most likely use an attorney, and would need a title company to close once you found your buyer. You can ask your attorney for an estimate, or ask them what title company they like to use. Then speak with that title company.
0 votes Thank Flag Link Sun Sep 8, 2013
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