Homes By HarisHomes By HarisHomes By HarisHomes By Haris
  • Home
  • Properties
    • For Sale
    • For Rent
  • Blog
  • About
  • Terms of Use
  • Privacy Policy
✕
Condos & Town-homes in Glenview, IL
October 29, 2021
Published by Haris Dedic at February 4, 2022
Categories
  • Real Estate Tips
Tags
  • home buying
  • home selling

Real Estate Closing Costs

Simply put, closing costs are the charges and fees paid when a home purchase is finalized. Both buyers and sellers are typically responsible for paying closing costs to the various service providers who contribute to the transaction, including agents, attorneys, the title company and more.

For buyers, closing costs typically average between 2 and 5 percent of the total purchase price. For example, if the home is selling for $300,000, you may pay between $6,000 to $15,000 in closing costs. But don’t worry — the exact figure will typically be estimated and shared with you within a few days of submitting your loan application. You will also receive a closing disclosure with the final figure before your closing date.

Closing costs may include:

  • mortgage insurance
  • title company fees
  • lender fees
  • appraisal fees,
  • loan origination fees
  • credit report charges and more.

The seller typically covers ownership transfer fees and a commission for their real estate agent. However, closing costs do vary depending on each scenario so you may want to ask these questions in the initial stages of the home buying process to help you better determine a budget.

Overall, the costs can usually be divided into two main categories:

  1. Fees associated with buying a home and taking out a loan and
  2. Costs associated with owning a home. The latter category, also known as prepaid costs, may cover fees that recur over time, including property taxes, homeowner’s insurance, and in some cases, homeowner’s association dues.

Have More Questions?
Contact me if you have any questions related to closing costs! I’m here to help.

Getting ready to buy or sell a home? More real estate tips and advice can be found here.

Share
0
Haris Dedic
Haris Dedic

Related posts

October 28, 2021

Things To Do Before Putting Your Home On The Market


Read more
Home Buying and Selling
October 8, 2021

How to Balance Selling and Buying a Home at the Same Time


Read more
October 7, 2021

Tips For New Homeowners


Read more

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

✕

About us

Maecenas dapibus purus et tellus mollis mattis. Duis porta fringilla odio, a porttitor massa euismod at.

Categories

  • Events
  • Frontpage Article
  • Glenview
  • Images
  • News
  • Real Estate Tips
  • Stories
  • Uncategorized

Latest comments

    Meta

    • Log in
    • Entries feed
    • Comments feed
    • WordPress.org

    Haris Dedic Realtor®

    • Villager Realty
    • 847-878-2588
    • 1245 Waukegan Rd
      Glenview, IL 60025

    Latest comments

      QUICK LINKS

      • About
      • Glossary
      • Testimonials

      Recent posts

      • 0
        What Are The Closing Costs
        February 4, 2022
      • 0
        Condos & Town-homes in Glenview, IL
        October 29, 2021
      • Home
      • Properties
      • Blog
      • About