What are the closing costs for the seller of a condo in Chicago?

Don
Home Seller
Chicago, IL

Answers (1)
Karen Breen Elia
Agent
Chicago, IL
FIRST ANSWER

Hi Don,

If you are listed with a broker, your agent should have completed a net sheet for you. I do this for all of my clients. Although it can be a bit of a shock, I do not want to take a chance with any surprises for my seller clients at the closing table.

The seller's closing costs consists of title insurance, state, county and city transfer stamps, property tax credit, attorney's fees and broker's commission, escrow fee, and release fee (if you have an existing mortgage). You may also have fees for home warranty, closing cost credit to buyers of other seller concessions. If you would like to provide me with a sample scenario (sale price, mortgage payoff amount, broker's commission, property taxes and estimated closing date) I would be happy to provide you with a net sheet.

Your attorney, in conjunction with the title company will do the final figures, but I can provide a decent estimation.

Mon Jul 13 2009, 11:57

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