Anticipated closing costs

There are certain expected costs accompanying closing the sale of a house. These fees are commonly divided between the buyer and seller, as instructed in the sales contract. Many are conventional, but there are nuances to each, so you'll want a real estate expert in Illinois to help show you through your transaction.

Costs pertaining to your loan to be paid at closing (Click here for more information)

Points (optional)
Appraisal Fee
Credit Report
Interest Payment
Escrow Account

At closing, these taxes are usually collected (Click here for more information)

Property Taxes
Transfer Taxes and Recording Fees

At closing, these fees are often due (Click here for more information)

Homeowners Insurance
Flood or Quake Insurance (optional)
Private Mortgage Insurance (PMI) (optional)
Title Insurance

Sellers: As we get through the details of your deal, I'll not only work to get the highest sales price, but I'll also advocate for reduced closing costs. And once we've come to an agreement, I'll fully explain the closing costs so you know exactly where your money is going.

Buyers: If you are buying a property in Cook County, you will be given a "Good Faith Estimate" (GFE) of closing costs within three days of submitting your loan application. The estimate is based on the loan officer's prior experience and is required to be within a reasonable range so you're not startled when you arrive at the closing appointment. I'll be happy to review the GFE with you, answering your questions and highlighting any estimates that seem questionable.

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22 N Morgan Street
Suite 107
Chicago, IL 60607
Phone: 312.733.9100
Fax: 312.733.9768
Abe@thereobroker.com

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