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Updated about 7 years ago,

Account Closed
  • Real Estate Agent
  • Arlington
100
Votes |
162
Posts

Thoughts? Closing costs for a Chicago duplex

Account Closed
  • Real Estate Agent
  • Arlington
Posted

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

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