Free Buffalo Grove, Illinois seller net sheet calculator
Closing costs, transfer taxes and who pays what when selling a home in Buffalo Grove, Illinois (Lake County). The calculator applies the local rates for you.
- Median home value
- $392,900
- Transfer tax on $395,000
- $1,778
- Seller costs on $395,000
- About $25,215
- Median property tax bill
- more than $10,000 a year
- County
- Lake County
- Population
- 43,072
Buffalo Grove transfer tax
On a $395,000 sale in Buffalo Grove, transfer taxes come to $1,778: State real estate transfer tax, County real estate transfer tax and Buffalo Grove transfer tax. By custom the seller pays it. Buffalo Grove has its own local transfer tax, so the total differs from the rest of Lake County, where the same sale would owe $593.
| Tax | Rate | Paid by | On $395,000 |
|---|---|---|---|
| State real estate transfer tax | $0.50 per $500 | Seller | $395 |
| County real estate transfer tax | $0.25 per $500 | Seller | $197.50 |
| Buffalo Grove transfer tax | $3 per $1,000 | Seller | $1,185 |
| Sale price | Seller pays | Buyer pays | Total |
|---|---|---|---|
| $250,000 | $1,125 | $0 | $1,125 |
| $395,000 local median value | $1,777.50 | $0 | $1,777.50 |
| $500,000 | $2,250 | $0 | $2,250 |
| $1,000,000 | $4,500 | $0 | $4,500 |
Example Buffalo Grove seller net sheet
A $395,000 sale, close to Buffalo Grove's median home value of $392,900, with a 5% commission and a $235,000 mortgage payoff. Seller costs come to about $25,215, or 6.4% of the price.
| Line | Seller |
|---|---|
| Sale price | $395,000 |
| First mortgage payoff | −$235,000 |
| Real estate commission (5%) | −$19,750 |
| State real estate transfer tax | −$395 |
| County real estate transfer tax | −$197.50 |
| Buffalo Grove transfer tax | −$1,185 |
| Owner's title insurance policy | −$1,680 |
| Settlement / closing fee | −$600 |
| Seller's attorney fee | −$700 |
| Survey | −$550 |
| Release / satisfaction recording | −$107 |
| Wire / courier / payoff processing | −$50 |
| Estimated net before property tax prorations | $134,785.50 |
Who pays what in Buffalo Grove
Buffalo Grove closings follow Lake County customs. In Lake County, the seller customarily pays the owner's title policy. The settlement fee is paid by each side for its own closing. Closings are usually handled by an attorney, and each side normally has its own attorney.
Property taxes in Buffalo Grove
The median property tax bill for homeowners in Buffalo Grove is more than $10,000 a year (Census Bureau American Community Survey, 2019-2023). Taxes here are paid in arrears, so at closing the bill is prorated between buyer and seller to the closing date. Taxes are paid a year in arrears (Cook County installments Mar 1 and Aug 1 for the prior year); the seller credits the buyer for the prior year if unpaid plus Jan 1 through closing, customarily at 105%-110% of the last bill.
Rates verified 2026-09-30. Home value and tax bill: Census Bureau American Community Survey, 2019–2023. A net sheet is an estimate; final figures come from the title company.
Buffalo Grove seller questions
How much is the transfer tax in Buffalo Grove, Illinois?
On a $395,000 sale in Buffalo Grove, transfer taxes come to $1,778: State real estate transfer tax, County real estate transfer tax and Buffalo Grove transfer tax. By custom the seller pays it. Buffalo Grove has its own local transfer tax, so the total differs from the rest of Lake County, where the same sale would owe $593.
How much are seller closing costs in Buffalo Grove?
On a $395,000 sale, close to the median home value in Buffalo Grove, with a 5% commission, estimated seller costs are about $25,215 (6.4% of the price). Without commission they are about $5,465. The loan payoff and property tax proration change the final number.
What county is Buffalo Grove in, and does it matter at closing?
Buffalo Grove is in Lake County, Illinois. County and state rules set the transfer taxes and recording fees, and local custom decides who pays for title and closing. In Lake County, the seller customarily pays the owner's title policy. The settlement fee is paid by each side for its own closing.
How much are property taxes in Buffalo Grove?
The median property tax bill for homeowners in Buffalo Grove is more than $10,000 a year (Census Bureau American Community Survey, 2019-2023). Taxes here are paid in arrears, so at closing the bill is prorated between buyer and seller to the closing date. Taxes are paid a year in arrears (Cook County installments Mar 1 and Aug 1 for the prior year); the seller credits the buyer for the prior year if unpaid plus Jan 1 through closing, customarily at 105%-110% of the last bill.
Other cities in Lake County
- Waukegan
- Mundelein
- Highland Park
- North Chicago
- Gurnee
- Round Lake Beach
- Vernon Hills
- Zion
- Grayslake
- Libertyville
- Lake Zurich
- Lake Forest
Cities near Buffalo Grove
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