Finding the right home at the right price is just one aspect of a real estate transaction. Reflective Realty Inc is seasoned at aiding both buyers and sellers when it comes to closings. E-mail
or call me today at (773) 939-8536 if your needs include a real estate pro experienced in the business side of real estate.
Closing costs you should expect
There are certain expected expenses linked to closing the sale of a house. These costs are usually split between the buyer and seller, as noted in the sales contract. Many are conventional, but there are nuances to each, so you'll want a real estate expert in Illinois to help direct you through your transaction.
Costs pertaining to your mortgage to be paid at closing
- Points (optional)
- Appraisal Fee
- Credit Report
- Interest Payment
- Escrow Account
At closing, these taxes are usually paid (Learn more)
- Property Taxes
- Transfer Taxes and Recording Fees
At closing, these fees are often due (Learn more)
- Homeowners Insurance
- Flood or Quake Insurance (optional)
- Private Mortgage Insurance (PMI) (optional)
- Title Insurance
Sellers: As we hammer out your deal, I'll not only work to get the very best sales price, but I'll also campaign for lower closing costs. And once we've arrived at an agreement, I'll walk you through the closing costs so you know exactly where your money is going.
Buyers: If you're buying a property in Chicago, you will be given a "Good Faith Estimate" (GFE) of closing costs within three days of submitting your loan application. The estimate is based on the loan officer's past experiences and is required to be within a tolerable range so you're not shocked when you show up at the closing appointment. I'll be glad to go through the GFE with you, answering your questions and highlighting any estimates that appear to be out of the ordinary.