Once you have determined a fair market price for your Chicago home, you can calculate your bottom line. Remember, by selling your home yourself, the only cost you avoid is the real estate agent s commission. You will still have to pay all of the other closing costs, just like any other seller.
Closing costs vary from area to area and also depend on how each individual contract is structured.
Also any liens that occurred if you used your home as collateral. In many areas it is customary for the seller to pay points on the buyers loan. This is negotiable, except on certain government loans. This means that when you make your July payment, you are actually paying interest for June. So if your home sale closes on July 26th , you will still owe interest for 26 days even though you already made your payment on July 1st.