What do seller closing costs add up to in Illinois?
Seller closing costs in Illinois are the charges that come out of your sale price at the title company closing: your mortgage payoff, the real estate commission, the state and county transfer tax, title and escrow charges, your share of prorated property taxes, and any credits you agreed to give the buyer. For Yorkville, Oswego, and Montgomery sellers, the commission is usually the largest line, while the transfer tax, the tax proration, and the final water bill are the ones that surprise people most.
By Kealan O’Neil | Updated October 24, 2026
You can estimate these costs before you ever list, and you should. Sellers who wait until the closing statement lands in their inbox are the ones who call me the week of closing, upset about a number that was predictable three months earlier. I walk every seller through this list before we sign a listing agreement, and these are the four items I see sellers miss most often, plus the final bills that can hold up your proceeds.
Where seller closing costs show up on your closing statement
Illinois closings run through a title company, usually with an attorney representing each side, and the settlement statement lists every dollar in and out. Your net proceeds are the sale price minus everything on the seller side of that statement. In my experience sellers pay more in total than buyers, because the commission and the state and county transfer taxes customarily sit on the seller side.
Here is the typical stack, in the order it usually appears:
- Your mortgage payoff, including interest through the closing date
- Real estate commission, including any contribution toward the buyer’s broker you agreed to
- Illinois state transfer tax and county transfer tax
- Title, escrow, and recording-related charges allocated to the seller
- Prorated property taxes and any association dues
- Credits you agreed to give the buyer after inspection or appraisal
- Final water, sewer, and refuse charges owed to your town
Four of those items cause most of the trouble, so let’s take them one at a time.
1. Prorated property taxes are an estimate, not the real bill
Illinois bills property taxes in arrears, which means the bill you pay this year covers last year. At closing, you credit the buyer for the days you owned the home since January 1, and the title company calculates that credit from the most recent bill, not the one that will eventually arrive. If your assessment or exemptions changed, the estimate can be off in either direction.
That credit comes straight off your proceeds, and its size depends on your tax bill and your closing date. A December closing carries almost a full year of credit plus the prior year’s second installment if it is still unpaid. I wrote a full walkthrough in our guide to property tax proration at closing in Yorkville, including how the estimated credit gets calculated and when it makes sense to ask for a reproration.
2. Transfer taxes are set by statute, and the town adds its own rule
Two transfer taxes apply to every sale here. The state tax is 50 cents for each $500 of value under 35 ILCS 200/31-10, and a county that adopts its own tax charges 25 cents for each $500, collected by the recorder before the deed is recorded. On a $350,000 sale, that works out to $350 for the state and $175 for the county, or $525 together. By custom the seller pays both, though your contract controls.
The municipal transfer tax is the part that changes by town. Oswego charges $3 per $1,000 of the sale price, and the Village of Oswego states that buyers are responsible for that stamp by ordinance. Yorkville and Montgomery have no municipal transfer tax. See the town-by-town breakdown in our guide to the real estate transfer tax in Yorkville and Oswego, and confirm the rule for your address with your attorney.
Even when the buyer pays Oswego’s stamp, the seller side still matters. The village runs a Statement of Open Accounts after the transfer declaration comes in, and any open invoices tied to the property must be paid in full before the stamp is released. An unpaid utility balance on your account can delay the closing for both of you.
3. Commission and buyer-broker compensation are negotiable and written down
Of everything on your statement, the commission is usually the biggest piece. There is no set rate in Illinois. The figure is whatever you and your brokerage agree to in the listing agreement, and any amount you offer toward the buyer’s broker is a separate decision you make, not an automatic line.
That is why the listing paperwork deserves a slow read. Our post on the listing agreement for Illinois sellers covers the term, the compensation section, and what happens if you cancel. Buyers now sign a written agreement with their own agent, so when a buyer asks you to cover part of their agent’s fee, it shows up as a request in the offer that you can accept, counter, or decline.
Run the math on any request before you answer it. A contribution toward the buyer’s broker comes off your proceeds the same way a repair credit does, so compare offers on their net to you, not just the price at the top of the page.
4. Title charges, payoff details, and credits that change your net
The last bucket is the one with the most moving parts. Who pays for the owner’s title policy, the survey, and the escrow fee depends on the contract and local custom, so read the title paragraphs of your contract before you accept an offer. Our post on title insurance in Yorkville explains the difference between the lender’s policy and the owner’s policy and what each side normally pays.
Then there are the items you agreed to after the contract was signed. A repair credit following the inspection, a concession to cover the buyer’s costs, or a price adjustment after a low appraisal all come off your proceeds the moment they land on the settlement statement.
Your payoff also moves. The balance on your monthly statement is not the figure you owe on closing day, because interest accrues daily. Ask your lender for a payoff letter with a per diem so the title company can calculate it exactly. After the loan is paid, Illinois law requires the lender to issue a release of the mortgage under the Mortgage Act, 765 ILCS 905/2, and a title company can record a certificate of release that satisfies that requirement. Keep your closing package until you see the release recorded.
Final bills and paperwork that can hold up your proceeds
These items are small dollars, but they are the ones that cause last-minute calls from the title company. Each town handles them a little differently.
Final water, sewer, and refuse bill
Your final utility bill is settled at or before closing, and each town wants notice. Yorkville asks sellers to submit its Meter Read Request with at least 5 days’ notice and to include the fax or email of the closing attorney, and that one form stops water, sewer, garbage, and sanitary district service. Montgomery’s Transfer of Ownership Final Read Request should be in no later than 3 business days before move-out, and requests received inside 72 hours may get an estimated final bill.
In Oswego, the open-accounts review tied to the transfer stamp does the same job: open invoices on the property get paid before the stamp is released. Whatever the town, ask your attorney to order the final read the week the contract firms up, not the week of closing.
FIRPTA withholding if a seller is a foreign person
If any seller on title is a foreign person for federal tax purposes, the buyer generally must withhold 15% of the amount realized and send it to the IRS, according to the IRS FIRPTA withholding page. Exceptions and reduced withholding exist, including a withholding certificate the seller can request, but they take time. Most sellers sign a certification at closing that they are not a foreign person, so tell your attorney early if your situation is different.
How to estimate your seller closing costs before you list
Run the numbers at the listing appointment, not the closing table. Here is the order I use with sellers in Yorkville, Oswego, and Montgomery:
- Start with a realistic sale price from a comparable-sales analysis, not the highest number you have heard.
- Subtract your payoff, including daily interest through your target closing date.
- Subtract the commission and any buyer-broker contribution you are willing to offer.
- Subtract the state and county transfer tax, then check your town’s municipal rule.
- Subtract the estimated property tax proration for your closing month.
- Subtract title, escrow, and attorney fees, plus your final utility bill.
- Hold back a cushion of a few thousand dollars for inspection and appraisal negotiations.
Your specific number depends on your loan balance, your town, your tax bill, and how the offer is structured. That is why a printed net sheet from a national website will not match what you see at the title company.
If you plan to buy again right after you sell, the timing of these costs matters too, because your proceeds fund your next down payment. If you need a few extra weeks in the house after closing, a rent back agreement changes your proration, utilities, and possession date, so build that into the estimate before you write an offer on your next home.
Seller closing costs questions from Yorkville, Oswego, and Montgomery sellers
These are the questions sellers in Chicago’s Western Suburbs ask most often when they start planning a sale.
What are the typical seller closing costs in Illinois?
Who pays the transfer tax in Illinois, the buyer or the seller?
Do I need an attorney to sell my house in Illinois?
Will I owe property taxes at closing even though I already paid them?
How do I handle the final water bill when I sell in Yorkville, Oswego, or Montgomery?
How to choose a listing agent in Yorkville, IL who shows you the net first
Seller closing costs are predictable once you know the lines to look for, and the sellers who plan for them keep more control over their timeline and their next purchase. When you interview agents, ask each one to walk you through a written net estimate for your address, with your town’s transfer and utility rules already built in.
If you’re planning a sale in Yorkville, Oswego, Montgomery, or anywhere in the Fox Valley, I’m happy to run the numbers with you before you commit to a price. Call or text Kealan at 630-425-8815.
About Kealan O’Neil
Kealan O’Neil is the Designated Managing Broker and founder of O’Neil Property Group, an independent real estate brokerage based in Yorkville, Illinois. He and his team help buyers and sellers in Yorkville, Oswego, Montgomery, and the surrounding Kendall and Kane County communities, and he owns and manages a local rental portfolio, so he approaches every decision as both a broker and an investor. Call or text Kealan at 630-425-8815.
This post is general information about real estate in the Fox Valley, not legal, tax, or financial advice. Real estate laws, tax rules, and municipal ordinances change, and how they apply depends on your specific situation. Talk with a licensed attorney, CPA, or lender before making decisions about a purchase, sale, or tax matter. O’Neil Property Group is a licensed Illinois real estate brokerage.