When buying or selling a home in Illinois, there’s more to consider than just the price of the property. Closing costs are the extra fees that come with finalizing the sale. These costs include things like attorney fees, taxes and other services needed to complete the transaction.
Our Illinois Real Estate Closing Costs Calculator helps you estimate what you’ll owe at the closing table. Whether you’re a buyer or seller, this tool will give you an idea of your financial responsibilities.
Just fill in a few fields and you’ll get your estimate. Here’s what each one means:
This is the sale price of the home you’re buying or selling. It’s the base for many of the percentage based fees.
Buyers and sellers have different responsibilities in an Illinois closing. This dropdown helps the calculator figure out which costs apply to you.
If the home is part of an HOA, there may be monthly fees. Some HOAs require you to pay a portion up front at closing.
In Illinois, property taxes are paid in arrears. That means sellers often owe the buyer a portion of the current year’s taxes at closing. Enter the amount the seller will credit or the buyer will receive.
Once you enter your information, the calculator estimates your total closing costs based on Illinois rates and practices. Here’s how the estimates are broken down:
Illinois real estate closings are different because:
Remember, while this calculator gives you a good estimate, final numbers will vary based on your transaction, local municipality and the terms of your sale.
Real estate has a lot of moving parts, but closing costs don’t have to be confusing. This calculator gives you a solid starting point so you can go into your Illinois home purchase or sale with peace of mind. Always consult your attorney or real estate professional to review your numbers before closing.
When we started our firm in the midst of the recession, we learned to survive in a lean environment and pass the savings on to our clients. As the economy has improved, we have not changed our philosophy. We are hungry to grow our client base, and so we have intentionally set our rates below what the market will bear. Our mission is to make each client walk away feeling that they got more value than they paid for. This is easier to do when we make our prices affordable.
The secret to our success as a firm is incredibly simple: we build a personal relationship with each of our clients and treat them with the respect that they deserve. We pride ourselves on our open lines of communication, frequent check-ins with our clients, and our accessibility. We are here to help you in any way we can, often leveraging our network of resources to assist you with non-legal issues that you may be having. We are your one-stop problem-solver and trusted adviser. All attorneys say that they provide excellent client service, but, unlike other attorneys, we practice what we preach. We make sure every client walks away happy . . . period.
We are your community law firm. Our business is built on long-term relationships with our clients. Our clients have the luxury of building trust over time with one team of attorneys, rather than having to find a new attorney for each different type of matter that arises over the course of their lives. No one attorney can be experienced at everything. That is why we have worked hard to assemble a team of attorneys with extensive experience in different areas of experience. Our attorneys work together closely to bring our collective experience to bear on any issue that may arise for our clients.
Since our business comes entirely from referrals and community involvement, our reputation for quality legal work is our greatest asset . . . and it is extremely important to us. Each of our attorneys is truly experienced in his or her practice areas, with the highest personal standards of excellence. We are proud of our reputation in the community, and we did not achieve it by accident. Our reputation for excellence comes from hard work, continuing education, and an above-and-beyond approach to our clients’ cases.