Buyer’s Closing Costs

Buying a Home in New Jersey
Buyers Approximate Closing costs – Reference Guide

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Legal Fees and Title Costs
1. Attorney Fee$1,500.00 to $2,200.00
2. Survey (Condo $150 to $250)$450.00 to $800.00
3. Recording Fees with Mortgage & Deed$200.00 to $300.00
Title Searches/Title Policy Endorsements$250.00 to $500.00
5. Title Insurance Premium (obtain from lender or attorney)
Mortgage Costs
6. Application Fee
(Includes Credit Report)
$300.00 to $600.00
7. Appraisal$400.00 to $600.00
8. Miscellaneous Mortgage Costs
(Varies, be sure to ask your lender)
$100.00 to $600.00
9. PMI (Private Mortgage Insurance)(obtain from lender)
10. Points(obtain from lender)
(Fee paid to lender to “buy-down” interest rate on mortgage)
(One point = 1% of mortgage, ex. – 1 point on a $500,000 mortgage equals $5,000)
Inspection Costs
11. Home Inspection$600.00 to $900.00
Radon Inspection$120.00 to $300.00
Wood Destroying Insect
$75.00 to $150.00
Septic Inspection (if applicable)$750.00 to $1000.00
Oil Tank Inspection (if applicable)$395.00 to $500.00
Other Inspections (if applicable)
Asbestos, Chimney and Mold – (costs vary)
12. Homeowner’s Insurance (1 yr. prepaid)Obtain from Insurance Co.
13. 2 Months Escrow Homeowner’s Insurance
14. Escrows for property taxes up to 3 months
15. Mansion Tax, if applicable (Residential Zone Use) 1% of consideration when sales
price is over $1,000,000

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