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Aug 22, 2024 · In Illinois, it typically costs 11.76% of a home’s sale price to sell a home. For context, if you sell a home that costs $350,000, you’d likely pay around $41,146 in closing costs; $58,779 for a $500,000 home; or $88,169 for a $750,000 home. Keep in mind that these costs are just estimates. Your specific costs will depend upon your home’s ...
- Illinois closing costs typically average about 7% of a home's final sale price. That figure includes common closing costs, such as title insurance...
- Buyers and sellers have separate closing costs in Illinois. Prorated property taxes are split between both parties. Sellers are usually responsible...
- Sellers usually cover both the buyer's agent and seller's agent commission in Illinois, which amounts to about 5% or more of the home's final sale...
- The cheapest way to sell a house is to use an agent matching service like Clever Real Estate, which has pre-negotiated a low listing agent fee with...
- Calculating The Total Selling Costs
- An In-Depth Breakdown of The Home Selling Costs in Illinois
- What’s My Bottom Line? Calculating Your Net Proceeds
In order to show you the total cost of selling an Illinois home, we need to make some assumptions. For example, the selling price of your home can be all over the place, from very low to very high. So let’s go with the average home value in Illinois according to Zillow’s home value index, which fluctuates but is about $204,839. The second assumptio...
In the table above that calculated the total selling costs of your home we showed you 5 unique buckets of items that will cost you money when you sell your home. Let’s dive into each of these buckets for you to understand what is actually costing your all of that money.
Estimating and calculating all the costs of selling your Illinois home is good but what really matters is how much money you will have in your pocket (or bank account) at closing. In order to figure this out what you will need to do is simple. Just add up all your closing costs and subtract them from the estimated amount you will sell your house fo...
- $20,484-$34,823
- $73,016-$87,355
- $97,000
- $204,839
May 15, 2024 · The median sale price of a home in the state was $282,000 in March, according to Illinois Realtors’ data — 5.5 percent commission on a sale of that price would come to $15,510. Up until ...
Apr 29, 2024 · 2.99%. $8,006. *Based on a sale price of $267,365, the typical home value in Illinois (Zillow August 31, 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 $13,555 for the median home price in the state. Home sellers typically pay for agent fees for both their ...
Transfer taxes are fees to transfer real estate property from one owner to another. Illinois charges you about 0.15% of your home's sale price to transfer the title to the new owner. If you sell for Illinois's median home value — $267,365 — you'd pay $401. Learn more about transfer taxes in Illinois.
Oct 1, 2024 · The average cost to sell a Illinois home is about 11.76% of the total sale price. Based on the average home value of $267,365, that works out to about $31,431. However, this is just an average — the cost to sell one home may vary greatly from another. Expenses for repairs, staging, and taxes are all unique to the condition and location of the ...
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4 days ago · On average, staging costs range from $800 to $2,800, depending on the number of rooms and how long the house stays on the market. 4. Closing Costs. Sellers usually pay between 1% and 3% of the sale price in closing costs in Illinois state, which cover expenses like attorney fees, transfer taxes, title insurance, and property taxes. A $400,000 ...
