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Jonathan Wheeler
  • Investor
  • Bartlett, IL
10
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170
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Closing Attorney Costs in Illinois

Jonathan Wheeler
  • Investor
  • Bartlett, IL
Posted Jul 24 2014, 09:51

My questions specifically relate to closing on a wholesale deal in Illinois.  My purchase contract is written so that my end buyer will pay all closing costs.  The seller won't have any closing costs which is obviously one of the main selling points for them to do the deal with me.  I was a bit confused after speaking with a local title company that said these closing costs typically wouldn't include the attorney fees for the seller's attorney to review/prepare their documents for closing. 

I'm hoping that someone who has experience with wholesaling in Illinois can tell me if the end buyer is expecting to pay all the closing costs including the seller's attorney costs in these types of transactions (assignment of contract to cash buyer)? If not, how is the seller's attorney fee usually handled?  Also, to what extent does the seller even need to have an attorney involved to close the deal?  I'm new to this and a bit confused by how this all works.  Thanks in advance for your input.