SALE PRICE | TYPICAL COST | WHO PAYS? |
---|---|---|
COMMISSION | 6% of PURCHASE PRICE | SELLER |
APPRAISAL | $250-$500 | BUYER |
CREDIT REPORT | $30-$75 PER BORROWER | BUYER |
INSPECTION FEE | $350+/VISIT | BUYER |
LENDER-DIRECT UNDERWRITING FEE | $750-$1,000 | BUYER |
PROCESSING FEE | $150 | BUYER |
FLOOD CERTIFICATE | $50-$100 | BUYER |
TAX SERVICE | $85-$200 | BUYER |
ATTORNEY FEE | $600-$1,000+ | BOTH |
SETTLEMENT CLOSING | $250-$1,000 | BUYER |
TITLE INSURANCE (BUYER) | $250-$1,000 | BUYER |
TITLE INSURANCE (SELLER) | $300-$2,000 | SELLER |
RECORDING FEE | $75-$250 | BOTH |
STATE TRANSFER TAX | $1.50 PER $1,000 | SELLER |
COUNTY/CITY TRANSFER TAX | $3.00 PER $1,000 | SELLER |
CHICAGO CITY TRANSFER TAX* | $7.50 PER $1,000 | BUYER |
SURVEY | $500 - $1,000 | SELLER |
INTEREST PER DAY | LOAN AMOUNT X RATE/365 | BUYER |
ESCROW TAXES | 1-5 MOS. (IF APPLICABLE) | BUYER |
ESCROW INSURANCE | 1-5 MOS. (IF APPLICABLE) | BUYER |
TAX PRORATION | 105-110% OF LAST TAX BILL | SELLER |
TAX PRORATION SELLER ESTIMATED CLOSING COSTS COURTESY OF PROPER RATE®. Prices subject to change. Actual costs vary per lender, loan amount, property type and other factors.
*Property transfer taxes vary per local jurisdiction or township. Please consult your real estate attorney to obtain the best possible estimate for taxes and other closing costs.