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1. www.houzeo.com › blog › who-pays-closing-costs-inSeller or Buyer: Who Pays Closing Costs in Illinois in 2024

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   Feb 2, 2024 · Illinois has some of the highest closing costs in the United States. Let’s put this in perspective. The median home price in Illinois is $255,300. So, the closing costs for seller in Illinois typically range from $20,424 to $25,530. And, closing costs for buyer in Illinois can amount to $5,106-$12,765.

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   • Author: Houzeo

2. 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

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 · 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. 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.

5. 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 ...

6. www.consumeraffairs.com › finance › illinois-closingIllinois closing costs - ConsumerAffairs

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   Jul 9, 2024 · The average home price in the Prairie State is $283,313, and Illinois buyers pay an average of 2.09% of a home’s value in closing costs. That means buyers pay about $5,929 in closing costs ...

7. People also ask

   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

   www.redfin.com/blog/how-much-are-closing-costs-in-illinois/

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   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

   www.redfin.com/blog/how-much-are-closing-costs-in-illinois/

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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

   www.bankrate.com/real-estate/closing-costs-in-illinois/

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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

   www.redfin.com/blog/how-much-are-closing-costs-in-illinois/

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   Who pays for a title search in Illinois?

   • Title-related fees: This will cover the cost of a title search, which ensures that ownership of the property may legally be transferred, and title insurance, which protects against any claims to ownership. In Illinois, the buyer’s policy is typically paid for by the seller, but it may vary.

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

   www.bankrate.com/real-estate/closing-costs-in-illinois/

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   Do I need to pay for a home inspection in Illinois?

   • However, if not, you’ll need to pay for this at closing. Inspection fee Home inspections in Illinois generally range from $300 to $500 – they can vary based on local rates and the property’s specific characteristics. If you don’t pay for the inspection at the time of service, this will need to be paid at closing.

   How Much Are Closing Costs in Illinois 2024? - Redfin

   www.redfin.com/blog/how-much-are-closing-costs-in-illinois/

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8. www.grandviewhomes.com › navigating-seller-closingSeller Closing Costs in Illinois: A Comprehensive Guide

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   Common Seller Closing Costs in Illinois. 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 ...