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Updated about 7 years ago,
Thoughts? Closing costs for a Chicago duplex
HI everyone,
I'm interested in a property in Chicago and I'm quite surprised by the numbers coming back for closing costs. I'd appreciate hearing back from anyone who can relay back whether or not the numbers are reasonable:
Estimate of the costs to Seller:
Title Policy $1750
Transfer Taxes $600 (based on $130,000 purchase price)
Survey $400
Miscellaneous Title Costs $500 (recording fees, zoning , water cert etc.)
Tax prorations and attorney fee of $500
Estimate of the costs to Buyer (me):
Loan Policy $500
City Transfer Tax $1000 (based on $130,000 purchase price)
Escrow Fee $1400
Miscellaneous Title Fees $500 (Lender endorsements, recording fees etc).
Inspection $450
This doesn't include closing costs from the lender such as origination etc (lender is USAA)
Any thoughts? Thanks!
Jonny