Buyer Resources
Real dollar amounts for every line item so there are no surprises at the closing table — and exactly how to bring those numbers down.
These are paid before closing — out of pocket when they're due.
| Cost Item | Typical Range | Notes |
|---|---|---|
| Earnest Money Deposit | ~1% | You choose the amount. Credited toward your closing costs — it's an advance, not an extra fee. Higher deposits signal a serious buyer. |
| Home Inspection | $350–$500+ | Paid directly to inspector. Covers roof, HVAC, plumbing, electrical, foundation. Add $150+ for radon, $200+ for pool, $100+ for sewer scope. |
Everything below is paid at the closing table, packaged into one settlement statement. Totals vary by purchase price and municipality.
| Cost Item | Typical Range | Notes |
|---|---|---|
| Real Estate Attorney | $500–$1,000 | Required in Illinois. Handles contract review, title, and closing. |
| Appraisal Fee | $400–$600 | Ordered by your lender to confirm the home's value supports the loan amount. |
| Title Insurance (Owner's Policy) | $400–$1,200 | Protects you against title defects. One-time cost at closing. |
| Title Search & Exam | $200–$400 | Research to confirm clear ownership of the property. |
| Lender Origination Fee | 0.5%–1% of loan | The lender's fee for processing your mortgage. |
| Prepaid Property Taxes | Varies | Prorated taxes from closing date to end of tax period. |
| Prepaid Homeowner's Insurance | $800–$2,000/yr | First year's premium typically due at closing. |
| Recording Fees | $50–$150 | County charges to record the deed and mortgage. |
| Survey | $300–$500 | Confirms property boundaries. Not always required. |
| Transfer Tax (varies) | Varies by municipality | Some municipalities charge buyers a transfer tax. |
| Credit Report Fee | $30–$50 | Charged by the lender to pull your credit. |
| Flood Certification | $15–$25 | Confirms whether the property is in a flood zone. |
Closing costs are not fixed. Here are the strategies I use consistently to bring them down for my clients.
I can negotiate for the seller to pay a portion of your closing costs — often 2–3% of the purchase price. On a $300K home, that's $6,000–$9,000 the seller pays instead of you. This is one of my most-used negotiation tactics.
Lender fees vary significantly. Use the 14-day pre-approval window to compare 2–3 lenders and negotiate fees. Some lenders will match or beat a competitor's offer outright.
Some lenders offer credits that cover closing costs in exchange for a slightly higher interest rate. Depending on how long you plan to stay, this trade-off can save thousands upfront.
You are not required to use the title company your lender or attorney suggests. Get quotes from multiple companies — prices vary by hundreds of dollars for the same coverage.
Several Illinois programs (IHDA, 1st Home Illinois) cover both down payment AND closing costs. If you qualify, this could eliminate your out-of-pocket closing costs entirely.
Closing later in the month reduces the prepaid interest owed at closing. It's a small savings — but every dollar counts.
Before you make an offer, I prepare a detailed closing cost estimate so you know exactly what to expect. My clients consistently close with lower out-of-pocket costs than they initially expected.