Home Selling in 60613>Question Details

Mary Nitsch, Real Estate Pro in Naperville, IL

If I sell my condo in Cook County, Illinois what are my expenses to sell it.

Asked by Mary Nitsch, Naperville, IL Wed Apr 3, 2013

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Evelyn S. Fred’s answer
Hi Mary,

Good list below and obviously there are some variables, i.e. attorney fee. The one constant, for now, is the transfer tax which for a seller is $4 per thousand.

Good luck selling your condo. Please don't hesitate to call me if you would like a free market analysis, no obligation.
0 votes Thank Flag Link Thu Apr 4, 2013
Expenses Include:

Title Fees
Recording Fees
State Of IL Fees
Cook County Fees
City of Chicago Fees (if in Chicago)
Attorney Fees
Water Certification
Realtor Fees
Unpaid Real Estate Taxes
0 votes Thank Flag Link Wed Apr 3, 2013
You may have the following:

Transfer Tax $3.50 per $1,000 of the sales price
Title Fees
Attorney Fees
Recording Fees
Real Estate Fees
State of IL Fees
Cook County Fees
City of Chicago Fees ( if in Chicago)
Property Taxes from Jan. 1st to closing
0 votes Thank Flag Link Thu May 21, 2015
There are a few factors that can make this difficult to answer but for the sake of getting to complicated factor 6-8% of the purchase price.
0 votes Thank Flag Link Tue Jan 7, 2014
A good conservative estimate is between 3-5% of your purchase price. In Chicago, you will have city transfer tax included in my estimate above. For most, this is the heftiest fee at $10/$1,000 of the purchase price. Recently aproved 2014 budget by mayor calls for an increase to transfer tax - final numbers are not out as yet. Hope this helps.
0 votes Thank Flag Link Tue Jan 7, 2014
transactions are slightly different best to email me at jmichaels@remax.net to discuss your situation
0 votes Thank Flag Link Wed Apr 3, 2013
Transfer stamps
Taxes proration
seller fees
Real Estate Fees
0 votes Thank Flag Link Wed Apr 3, 2013
Well first of all it all depends if you are going to sell your condo by yourself, i.e. for sale by owner, or if you are listing your condo with a real estate brokerage/listing agent, who will not only assist in pricing it
right, but also market and advertise it well, and will be able to show you with a detailed market evaluation the current value of your condo, and will also be able to give you an estimate of the final
net to seller, after considering ESTIMATES OF the possible closing costs, and commission if working with a Realtor....
But otherwise even if selling by owner you may have to pay part of a commission to a buyers agent who brings you a buyer, just consider that possibility!!!!
and then here are the general costs
unpaid real estate taxes
Title Fee & Recording Fees & Attorney fees and depending on which town also
transfer fees to the town
State Of IL Fee & Cook County Fees

And that all does not include any potentially necessary repairs, or painting or to put the condo in
a market ready condition.

Good Luck to you
Sincerely yours,
Edith YourRealtor4Life & Chicago and Northern Illinois Expert

Working always in the very BEST interest of her clients, Buyers, Sellers and Investors alike....
And always with a SMILE 
Covering for @Properties the city of Chicago, all N and NW suburbs, the fine homes on the
North Shore, and many of the W and SW suburbs, and with her trusted Partner Agents all of
the US and worldwide properties. Edith speaks French, German, some Spanish and other.....
@Properties ---- EdithSellsHomes@gmail.com
Check out my website at htttp://tinyurl.com/YourRealtor4Life
0 votes Thank Flag Link Wed Apr 3, 2013

That variable will vary depending on the town you are in and the services you need. Your true costs include: Realtor commissions, attorney fees, title insurance and other smaller fees. You also may need to pay for transfer stamps if your town requires it.

Depending on when you sell your condo, you will also need to prepay the property taxes for the next buyer. Assuming a sale in the 2nd half of the year, it would be at least 12 months worth of taxes.

When you meet with an agent to get a Comparative Market Analysis, let them know you would like a Selling Cost statement as well. They can estimate your costs based on a possible sale price and show you how the math works for your specific property.

Geoff Ommen
Broker Baird & Warner
0 votes Thank Flag Link Wed Apr 3, 2013
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