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1. www.newhomesource.com › learn › closing-costs-illinoisYour 2021 Guide to Closing Costs in Illinois - New Home Source

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   Home values have also increased exponentially in Illinois. By the end of July 2021, the average home price jumped by 12.6 percent from $233,500 a year ago to $263,000, according to Illinois Realtors market data. Keep in mind, closing costs will fluctuate depending on the price of your home, where it’s located, and the complexity of the sale.

2. www.homelight.com › blog › closing-costs-in-illinoisClosing Costs in Illinois: A Guide for Sellers - HomeLight

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   Aug 13, 2024 · Joseph Gordon Editor. Understanding the financial aspects of closing costs is an important factor when selling your home in Illinois. Closing costs are various fees that sellers need to cover to finalize the sale of their property. These costs can include agent commissions, property taxes, and other necessary fees tied to the closing process.

3. www.redfin.com › blog › how-much-are-closing-costsHow Much Are Closing Costs in Illinois 2024? - Redfin

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   Jul 11, 2024 · Buyer closing costs in Illinois. For homebuyers in Illinois , you can expect closing costs to range 2%-5% of the home’s purchase price. If you’ve paid earnest money, which is typically 1%-3% of the home’s price, this amount will be subtracted from your closing costs. Let’s break down some of the common closing costs covered by the buyer:

4. listwithclever.com › real-estate-blog › seller2024 Guide to Seller Closing Costs in Illinois

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   Apr 29, 2024 · Varies. Total*. 3.00%. $7,976. *Based on a sale price of $265,991, the typical home value in Illinois (Zillow September 30, 2024) On top of these closing costs, you'll need to pay realtor fees. Average realtor fees in Illinois are 5.07%, which works out to $13,486 for the median home price in the state. Home sellers typically pay for agent fees ...

5. www.bankrate.com › closing-costs-in-illinoisClosing Costs In Illinois: Who Pays For What? - Bankrate

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   Sep 14, 2023 · Illinois closing costs average about 2.1 percent of the home’s sale price, according to ClosingCorp data. On a median-priced Illinois home, which is $287,400 according to Redfin, that comes to ...

   • Author: Kacie Goff

6. listwithclever.com › seller-closing-costsIllinois Seller Closing Costs Calculator | Find Your Home ...

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   As a seller, you're responsible for paying your agent. You'll agree on this fee with your listing agent upfront, and you'll pay the fee when your home sells out of the sale proceeds. The average listing agent fee in Illinois is 2.64%. To estimate how much you'll spend on the listing agent fee, multiply: Your estimated home sale price x 2.64%.

7. People also ask

   How much do homebuyers pay for closing costs in Illinois?

   • For homebuyers in Illinois , you can expect closing costs to range 2%-5% of the home’s purchase price. If you’ve paid earnest money, which is typically 1%-3% of the home’s price, this amount will be subtracted from your closing costs. Let’s break down some of the common closing costs covered by the buyer:

   How Much Are Closing Costs in Illinois 2024? - Redfin

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   How much does it cost to sell a house in Illinois?

   • Average seller closing costs in Illinois are 2.99% of the home's purchase price. For a $267,365 home — the median value in Illinois — you'd pay around $8,006. Typical seller closing costs in Illinois include the title and closing service fees, owner's title insurance policy, real estate transfer tax, and recording fees on the closing date.

   Seller Closing Costs in Illinois: 2024 Update - Clever Real Estate

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   How are closing costs calculated in Illinois?

   • Closing costs vary based on several factors, and they also vary from one state to another. One way to calculate them is as a percentage of the home’s sale price. Data from CoreLogic’s ClosingCorp puts the average Illinois closing costs at 2.1 percent.

   Closing Costs In Illinois: Who Pays For What? - Bankrate

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   Who pays closing costs in Illinois?

   • In most areas, including Illinois, both the buyer and the seller will pay closing costs. But, each party’s closing costs amount will vary depending on what they are required to pay. Keep in mind that it’s common for the buyer to pay closing costs out of pocket, while the seller’s closing costs are deducted from the home sale proceeds.

   How Much Are Closing Costs in Illinois 2024? - Redfin

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   Does home insurance cover closing costs in Illinois?

   • Homeowners insurance: In Illinois , your annual homeowner’s insurance premium may be part of your closing costs. Homeowners Association dues: For homes in HOA-managed communities, you might have to pay one month’s dues at closing, which can vary depending on the property and covers maintenance and operational expenses.

   How Much Are Closing Costs in Illinois 2024? - Redfin

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   How much do homebuyers pay on closing day?

   • Closing costs encompass all the fees homebuyers need to pay on closing day before they receive the keys and deed to their new property. With a lengthy list of service providers to pay, homebuyers can count on spending about 2 percent to 5 percent of their home’s purchase price on closing day.

   Your 2021 Guide to Closing Costs in Illinois - NewHomeSource

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8. www.justfundedmortgage.com › home-purchasing › howHow Much Are Closing Costs In Illinois? - Just Funded Mortgage

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   According to a 2021 report by ClosingCorp, a leading research provider in the U.S. real estate industry, the average closing costs in Illinois are $1,955 for a home priced at $208,429, constituting 0.94% of the property’s value. In comparison, the national average is $6,087, making Illinois the 11th state with the lowest closing costs.