Sellers in Illinois pay an average of 3.00% of the home's purchase price in closing costs, according to our research of local costs.
On average, you'll pay about $6,000 for a $200,000 home, $12,000 for a $399,000 home, and $20,000 for a $666,000 home.
Seller's closing costs calculator for Illinois
Who pays closing costs in Illinois?
Sellers are responsible for most, but not all of the closing costs during a home sale. Sellers pay for a variety of fees and taxes associated with verifying and transferring ownership of the home.
Buyers are responsible for their mortgage-related expenses, such as the loan origination fee, private mortgage insurance, and other lender-related fees. Buyers must also pay the down payment and any appraisal and home inspection fees.
Sellers can't negotiate the cost of taxes and fees, but they can always negotiate with the buyer to pay for them. Likewise, the buyer can ask the seller to pay for appraisal or home inspection fees.
How much are closing costs in Illinois?
| Closing costs | Average rate |
|---|---|
| Buyer incentives | 2.00% of home sale price |
| Transfer tax | 0.15% of home sale price |
| Prorated property taxes | 2.24% of home's assessed value |
| Title service fees | $928 |
| Recording fees | $125 |
| Owner's title insurance | $660 |
| Lender's title insurance | Typically paid by buyer |
| Attorney fees (optional in Illinois) | up to $268 per hour |
| Other costs | Varies |
Seller closing costs breakdown for Illinois
These are the most common closing costs for sellers in Illinois:
Buyer incentives: 2.00% of home sale price
Buyer incentives aren't fees like other closing costs, but it's smart to budget about 2.00% of the sale price for some negotiating room. This can help you pay some of the buyer's closing costs, offer repair credits, or otherwise help you reach a deal in a tight market.
Transfer tax: 0.15% of home sale price
Transfer tax is a fee charged by some states to transfer the deed from one owner to another.
Illinois charges you about 0.15% of your home's sale price to transfer the title to the new owner. If you sell for Illinois's median home value — $266,320 — you'd pay $399.
Prorated property taxes: 2.24% of home's assessed value
The average property tax rate in Illinois is 2.24% of the assessed value of the home, but these fees vary greatly from one county to another.
When you sell a home in Illinois, you'll still have to pay property taxes for the months you owned the property. This cost can vary greatly depending upon where you live and what time of year you sell your home.
For example, Winnebago County has the highest property tax rate in the state at 2.99%. On the other end of the scale, Hardin County residents have the lowest property tax rate at just 0.84%.
Keep in mind that property taxes are based on the assessed value of the home, not the sale price. Different locations use different methods for calculating the assessed value of the home.
Title service fees: $928
Expect to pay 0.35% of the sale price of the home in title service fees when selling a home in Illinois Title fees are paid to a title service, which searches public records before you transfer ownership to the buyer to ensure there are no claims or liens against the property.
Illinois recording fees: $125
Sellers pay an average of $125 in recording fees in Illinois. The local jurisdiction, such as the city or county, will charge a recording fee to legally record your property's deed and mortgage information. The exact amount will vary based on your location.
Owner's title insurance: $660
Owner's title insurance protects the buyer if there's a problem with the property title. The insurance will pay for any legal fees if problems come up — or potentially even reimburse the value of the home.
In Illinois, it's more common for the seller to pay for owner's title insurance.
If you do pay part of the bill, owner's title insurance usually costs around 0.25% of a Illinois home's final sale price — or $660 for a $266,320 home. However, title companies in Illinois often use tiered pricing to determine how much you'll pay for a policy based on your home's value.
Lender's title insurance: Typically paid by buyer
Lender's title insurance protects the bank or financial institution that issued the buyer a mortgage.
In Illinois, the buyer usually pays for lender's title insurance, so you're off the hook. Still, it's always possible the buyer will try to get you to pay for this in negotiations, so make sure you have a quality real estate agent looking out for your best interests.
Attorney fees: $268 per hour
An attorney is optional in Illinois for real estate transactions. The average cost per hour for a real estate attorney in Illinois is $268.
Many real estate attorneys offer a flat fee for closing services, which can range from $750–$1,250 for straightforward closings. Attorney fees will vary based on where you're located, what services are required, and how complicated the closing is.
Other Illinois closing costs for sellers
Every home sale is unique, and you may incur additional costs depending on your situation. Be sure to add these to your budget if they apply to your home sale.
- Homeowners Association (HOA) fees: Your HOA may charge a prorated fee based on how many months of the year you lived in the home.
- Mortgage payoff and/or prepayment penalty: Check to see if your mortgage charges a fee to pay off your loan early.
- Property appraisal fees: While the buyer often pays for an appraisal, a seller may need to cover the cost in some situations. An appraisal costs an average of $260 in Illinois.
Realtor commission in Illinois
Realtor commission isn't typically considered a closing cost, but these fees are also paid at closing out of the proceeds from the home sale.
In Illinois, the average total commission is 5.07%. This includes an average buyer's agent commission of 2.43% and an average listing agent commission of 2.64%.
The seller and buyer each sign a contract with their own agents. The seller is responsible for paying their agent; the buyer is responsible for paying their agent.
However, offering to cover the buyer's agent commission makes it easier for the buyer to afford the home and may help the seller secure a deal to sell. If you don't pay for the buyer's agent fees, the buyer will owe 2.43% of the home sale price on top of the down payment.
This is why most sellers will offer to pay for the buyer's agent commission along with their own agent fees.
Realtor fees are one of the largest expenses for sellers. Thankfully, you can save on realtor commission by using our referral service, which negotiates 1.5% listing fees with top local realtors.
💰 Ready to save thousands on realtor fees? Fill out this form to get matched with top-rated Illinois agents who charge a 1.5% listing fee!
An August 2024 ruling has forced the National Association of Realtors to change how real estate professionals do business:
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- Buyer's real estate agents must present an "agency agreement" that includes a description of the agent’s services to a potential home buyer.
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- Buyer's agents must negotiate their fee directly with the buyer ahead of signing the contract.
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- Listings cannot include buyer's agent commission.
Before the settlement, a real estate agent would split commissions: a listing agent would collect a 6% fee from the seller and give half of it to the buyer's agent. The home buyer typically wouldn't pay any agent commissions.
Sellers traditionally advertised the buyer's agent cut on the home listing to entice buyer agents to show the home. This practice also made it clear who would pay for the buyer's agent — usually the listing agent — before a prospective buyer even toured the home.[1]
How to save on Illinois closing costs
Most closing costs are fees and taxes that aren't negotiable like realtor commission and cost of the home.
You can try to shop around for better prices on things like title services and insurance, but these costs are fairly uniform across the industry, and any savings would be minimal.
Here are a few ways to find more substantial savings when selling your home.
Save on realtor fees
Realtor fees will likely be your biggest expense when selling your home. In Illinois, you'll pay an average of 5.07% in total realtor fees when selling your home.
To put those costs into context, you'd pay around $10,140 in realtor commissions on a $200,000 home; $20,280 on a $400,000 home; or $33,969 on a $670,000 home.
But you don't have to pay this much in realtor fees. Our referral service matches you with agents who charge 1.5% listing fees, meaning you'll save around 33% on realtor commissions in Illinois.
Negotiate for the buyer to pay
Although the seller typically pays for most of the closing costs, you can ask the buyer to pay these costs for you. You'll have more success with this strategy if you're in a hot seller's market with fewer homes for sale.
If, instead, the housing market favors buyers at the moment, you'll have a difficult time convincing the buyer they should take on even more costs.
An experienced realtor can help you understand how much leverage you have in the current market and assist you in negotiating the terms of the sale with the buyer.
Methodology
The Real Estate Witch team gathered data for property taxes, transfer taxes, and recording fees using publicly available information.
We found average costs for attorney fees, title insurance, and other services by requesting quotes from local providers.
We gathered our commission rate data from a survey of 734 of our partner agents. Additionally, we utilized the following data from Zillow and Realtor.com:
- Home values, list prices, and sale prices: Based on Zillow data as of November 2024
- Transfer taxes and mortgage taxes: Based on public data as of February 2024.
FAQ about seller closing costs
How much are closing costs for sellers in Illinois?
On average, closing costs are about 3.00% of a home's sale price in Illinois. Don't forget about realtor fees, which will cost another 5.07% of your sale price on average, accounting for the majority of your expenses.
Who pays closing costs in Illinois?
In Illinois, the seller is typically responsible for most of, but not all of the closing costs.
