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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 ...
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:
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.
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%.
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 ...
- Kacie Goff
1. Real Estate Commission. One of the most significant seller closing costs is the real estate commission, which is typically a percentage of the final sales price. In Illinois, the customary commission rates range from 5% to 6% of the sales price. However, commission rates are negotiable, so it’s essential to discuss this with your real ...
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Jan 8, 2024 · If you’re planning to buy a property in Illinois, it’s natural to wonder about the average closing costs you may encounter. On average, buyers in Illinois can expect their closing costs to be around 2.1% of the purchase price. However, it’s important to note that these costs can vary based on factors such as the property’s location and ...
