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6
Legal and Title Costs
1. Attorney Fee
$ 900.00 to $ 1,500.00
2. Survey (Condo $150 to $250)
$ 450.00 to $ 800.00
3. Recording Fees with Mortgage & Deed
$ 300.00 to $ 400.00
4. Title Searches/Title Policy Endorsements
$ 250.00 to $ 500.00
5. Title Insurance Premium
Mortgage Costs
6. Application Fee
$ 600.00 to $ 900.00
7. Appraisal
$ 450.00 to $ 650.00
$730 up to 1 Million
$1,800 for over 1 Million
(due to needing 2 appraisals)
8. Miscellaneous Mortgage Costs
$ 100.00 to $ 600.00
(Varies, be sure to ask your lender)
9. PMI (Private Mortgage Insurance)
Often required if mortgage is more
than 80% of purchase price
10. Points
$_______ to $ _______
Fee paid to lender to “buy-down” interest
rate on mortgage. One point equals 1%
of the mortgage. (1 point on a $100,000
mortgage equals $1,000.)
Inspection Costs
11. Home Inspection
$ 400.00 to $ 650.00
Radon Inspection
$ 60.00 to $ 300.00
Wood Destroying Insect
Inspection/Certification
$ 60.00 to $ 150.00
Septic Inspection (if applicable)
$ 500.00 to $ 2,000.00
Oil Tank Inspection (if applicable)
$ 395.00 to $ 500.00
Other Inspections
$
_______
to
$
_______
Other Costs
12. Homeowner’s Insurance
$ 500.00 to $ 2,400.00
one year prepaid premium
13. Coldwell Banker Home Protection Plan $ 425.00 to $ 900.00
14. Flood Insurance (if applicable)
$ 750.00 to $ 2,000.00
15. Prepaid Tax Adjustment
$_______ to $ _______
16. Mansion Tax on Residential Properties
1% of Consideration when Sales Price is Over $1,000,000
See schedule–NJ Rates for Title Insurance
on the following page.
BUYER’S APPROXIMATE CLOSING COSTS
These figures are general guidelines to aid buyers in calculating their closing costs. The figures are based on estimates of New Jersey fees and are subject to errors and omissions and change without prior
notice. 1/2015
ESSENTIAL GUIDE
for
Home Buyers
and
Sellers
The