If your home is sold for $xxx, do you really net $xxx?
Home sellers are often surprised at how many line items appear on a closing statement. Online calculators usually focus on commission alone, but in reality, selling a home in Chicagoland involves several categories of costs—some obvious, some less so. Below is a detailed, realistic breakdown using a $800,000 Naperville home as a working example.
Listing & Brokerage Fees
Listing commission varies by brokerage and pricing strategy. Traditionally this has been around 5–6% total, split between listing and buyer’s agents, but many sellers today are opting for tiered or reduced commission structures that scale with home value—especially for higher-priced homes.
On an $800,000 home:
- Traditional model: ~$40,000–$48,000
- Tiered or reduced model: often materially less, without sacrificing exposure or service
This is usually the largest controllable cost in the transaction, which is why it’s worth understanding how different fee structures work before listing.
Property Tax Credit
Illinois property taxes are paid in arrears, meaning sellers credit buyers for taxes that have accrued but are not yet billed at the time of closing.
A realistic rule of thumb of the annual property tax amount is ~2% of the home’s value.
For an $800,000 Naperville home:
- Annual property tax estimate: ~$16,000
- Typical seller credit: varies based on closing date, but often $8,000–$14,000+
This often surprises sellers because it shows up as a large debit at closing—even though it’s not an additional tax, just a timing issue.
Transfer Taxes
Transfer taxes are commonly misunderstood, and responsibility varies by municipality. In most Illinois suburbs:
- Illinois State transfer tax: Seller-paid ($0.50/$500)
- County transfer tax: Seller-paid ($0.25/$500)
- Municipal transfer tax: Many suburbs have none
With our $800,000 Naperville home sale, the transfer tax paid by the seller is $1,200.
City of Chicago note:
Chicago is different—there is a City of Chicago transfer tax that is customarily paid by the buyer ($3.75/$500), while the seller pays a smaller portion ($1.5/$500).
Consult your real estate agent about your home’s specifics.
Title & Recording Fees
Every sale requires title work — protecting the buyer and clearing the way for new ownership:
- Title insurance & search: Usually $2,000–$4,000+
- Recording fees: Typically a few hundred dollars
In our example of an $800,000 home sale, the title insurance cost would be ~$3,300 as of early 2026. These fees pay for the title company’s work to confirm ownership and file new documents with county records. In Illinois, sellers often pay for the buyer’s owner’s title insurance policy.
Attorney & Closing Costs
Illinois is an attorney-review state.
Typical seller-side costs include:
- Real estate attorney: ~$1,000–$1,500
- Document preparation & recording fees: modest, but present
Having experienced legal representation is not optional in practice and is well worth the cost.
Survey & HOA-Related Costs
Illinois sellers of non-condo residential property need to pay for:
- Survey: $400–$800 (sometimes more depending on the property situation)
On the other hand, if your property sits within an HOA community, there are usually HOA related costs when selling:
- HOA-related documents (if applicable): $200–$600+
Survey requirements vary by lender and property type, but this is a common and overlooked seller expense.
Pre-Sale & Wrap-Up Expenses
These costs don’t always appear on a settlement statement, but they still affect net proceeds:
- Minor repairs or touch-ups requested during inspection
- Professional cleaning
- Staging or photography (sometimes bundled, sometimes separate)
- Final utility bills (water, electric, gas)
- Moving costs
Depending on the home and timing, these can range from a few thousand dollars to much more.
Total Estimated Seller Costs ($800,000 Example)
While every sale is different, a typical seller might expect:
- Commission: variable (largest swing factor)
- Property tax credit: ~$8,000–$14,000+
- Transfer taxes: seller-paid state & county $1,200
- Title fees: $2,000-$4,000+
- Attorney & closing: ~$1,200–$1,500
- Survey & HOA items: ~$600–$1,000+
- Misc. prep & moving costs: situational
Why Commission Structure Matters More Than Ever
Many sellers focus on shaving small line items while overlooking the biggest lever: how commission is structured. A smart, transparent fee model—especially one that adjusts as home value increases—can preserve thousands of dollars in equity without cutting corners on marketing, negotiation, or exposure.
Understanding the true cost to sell puts you in control of the conversation.
If you’d like a personalized breakdown based on your home, timing, and local tax rules, contact us for a cost review before listing can make a meaningful difference at closing.
