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Who Pays for What?

Sale Price
Typical Cost
Who Pays?
COMMISSION
6% OF PURCHASE PRICE
SELLER
APPRAISAL
$250 – $500
BUYER
CREDIT REPORT
$30 – $75 PER BORROWER
BUYER
INSPECTION FEE
$350+/VISIT
BUYER
LENDER-DIRECT UNDERWRITING FEE
$750 – $1,000
BUYER
PROCESSING FEE
$150
BUYER
FLOOD CERTIFICATE
$50 – $100
BUYER
TAX SERVICE
$85 – $200
BUYER
ATTORNEY FEE
$600-$1,000+
BOTH
SETTLEMENT CLOSING
$250-$1,000
BUYER
TITLE INSURANCE (BUYER)
$250-$1,000
BUYER
TITLE INSURANCE (SELLER)
$300-$2,000
SELLER
RECORDING FEE
$75-$250
BOTH
STATE TRANSFER TAX
$1.50 PER $1,000
SELLER
COUNTY/CITY TRANSFER TAX
$3.00 PER $1,000
SELLER
CHICAGO CITY TRANSFER TAX*
$7.50 PER $1,000
BUYER
SURVEY
$500 – $1,000
SELLER
INTEREST PER DAY
LOAN AMOUNT X RATE/365
BUYER
ESCROW TAXES
1-5 MOS. (IF APPLICABLE)
BUYER
ESCROW INSURANCE
1-5 MOS. (IF APPLICABLE)
BUYER
TAX PRORATION
105 – 110% OF LAST TAX BILL
SELLER

ESTIMATED CLOSING COSTS COURTESY OF GUARANTEED RATE®. Prices subject to change. Actual costs vary per lender, loan amount, property type and other factors.

*Property transfer taxes vary per local jurisdiction or township. Please consult your real estate attorney to obtain the best possible estimate for taxes and other closing costs.

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