Home Buying in Chicago>Question Details

Has, Home Buyer in Chicago, IL

How much would i expect closing costs to be on a new condo in Chi?

Asked by Has, Chicago, IL Thu Apr 30, 2009

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4
Dear Has,

I'd say that a pretty safe short hand is 3% of the purchase price or less. And I'd consider pre-paid items (like interest on your new loan, insurance, tax escrows) to be separate in most lenders's minds (unfortunately for buyers). But Matt's correct in stating that a mortgage professional will be able to give you the best idea about what the precise costs will be.

Good luck.

Sincerely,
Christopher Thomas
Broker Associate, Sudler Sotheby’s International Realty
3934 N. Lincoln Ave. Chicago, IL 60613
773-418-0640 (mobile) 312-577-0985 (fax) 773-293-1200 (off)
Christopher.thomas@sothebysrealty.com
http://www.myagentchris.com
0 votes Thank Flag Link Thu May 7, 2009
Has,
Every closing is different. Many factors can change how much your closing costs can be. Your best bet to get an accurate quote would be to contact your mortgage broker. They will be able to give you the best information for your particular situation.

Matt Laricy
Americorp Real Estate
Brokers Associate, e-PRO
mlamericorp@aol.com
708-250-2696
0 votes Thank Flag Link Thu Apr 30, 2009
$4000 all in, depending on purchase price.
Web Reference: http://www.1sthomegroup.com
0 votes Thank Flag Link Thu Apr 30, 2009
The vast majority of it is the city transfer tax, which is based on the sales price. See link below.
0 votes Thank Flag Link Thu Apr 30, 2009
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