Thanks so much! I just wanted to know what I would possibly be saving!! Excellent!!

They will be paying the county/village transfer tax to start with which, depending on the village, can vary.

The seller is probably happy he is not selling in the city of Chicago where the transfer tax is brutal!

The seller will more than likely be paying for the home warrenty if you asked for one. They also will be paying title insurance to just name a few items.

How much do you think the sellers will be paying for closing costs on the townhome?

Anne a lot of the closing costs are loan related. The Good Faith Estimate from the lender should be very close to the amount. Until you find out from the lender no one can give you an idea of the total closing costs. By the way I had a transaction in October where the guyers lender needed 10K in closing costs, I referred the buyers agent to a lender I work with and the closing costs came down to 3.5K and a lower interest rate on the loan for the buyer.

hello Anne,

you will be liable for attorneys cost, home inspection usually about $250.00 and if the lender requires an appraisal fee upfront it could be about $300.00 or so.

Nichole Lathus
McColly Real Estate
708-646-6533

I closed on 2 townhouses in Schaumburg spring and winter last year that were foreclosures and pretty much all I paid was the fee from my lawyer which was $400. The seller (The banks) paid all my closing cost.