Chicago IL Homes for Sale

Sellers Costs


Costs Associated With the Sale of a Home

Broker's Commission

Title Insurance - To provide the buyer with a clear title policy. The cost is approximately $3.75 per $1000 of the purchase price (additional $1 per $1000 between $100,000 - $500,000; receive quote for over $500,000).

Document Recording Release Fees - Based on the number of pages of documents; a minimal charge.

State and County Transfer Stamps - $4.50 per $1000 of the purchase price.

Zoning Certification - $100. Required by the City of Chicago prior to closing on all residential property 4 units and under (excluding condos).

Attorney's Fees - Averages $400 - $700 (or hourly rate).

Escrow Charges - Only if escrow is established.

Paid Water Bill Certificate - $50.

Tax Credit - Prorated to the buyer to pay current real estate taxes not due until the following year.

The seller must also be able to provide:

  • Current Title Policy
  • Survey (if applicable)
  • Tax Bill (from previous year)
  • Condominium Declaration, By Laws and Operating Budget (if applicable)
  • Property Disclosure
  • Energy Disclosure
  • Lead Paint Disclosure

 

Mary Nack
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