Buyer’s Closing Costs

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

Legal Fees and Title Costs

1. Attorney Fee	$1,000.00 to $1,500.00
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	$300.00 to $650.00
Radon Inspection	$120.00 to $300.00
Wood Destroying Insect Inspection/Certification	$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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Homes Just Listed
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- $3,300,000 - 296 Summit Ave
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  Lot size: 1.55 ac
  
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- $1,369,000 - 10 Robin Hood Rd
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- $1,299,000 - 14 Peppermill Rd
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- $1,275,000 - 67 Huron Dr
  Chatham Twp.
  
  4 beds, 2 full, 1 part baths
  
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- $1,100,000 - 47 Tanglewood Dr
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  5 beds, 3 full, 1 part baths
  
  Lot size: 14,810 sq ft
  
  Year built: 1960
- $965,000 - MLS # 2919674
  Livingston Twp.
  
  4 beds, 4 full baths
  
  Lot size: 26,136 sq ft
  
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- $885,000 - 57 Knollwood Ave
  Madison Boro
  
  4 beds, 2 full, 1 part baths
  
  Lot size: 12,632 sq ft
  
  Year built: 1943
- $765,000 - 76 Duffield Dr
  South Orange Village Twp.
  
  5 beds, 3 full, 2 part baths
  
  Lot size: 13,939 sq ft
  
  Year built: 1939
- $709,000 - MLS # 2919518
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  4 beds, 2 full, 1 part baths
- $649,900 - 26 Schindler
  Chatham Boro
  
  3 beds, 3 full, 1 part baths
  
  Lot size: 6,534 sq ft
  
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- $629,000 - 8 Anthony Dr
  Madison Boro
  
  4 beds, 3 full baths
  
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  Year built: 1954
- $619,900 - 51 N Summit Ave
  Chatham Boro
  
  3 beds, 1 full, 1 part baths
  
  Lot size: 6,098 sq ft
  
  Year built: 1947
- $599,999 - 44 Harvey Dr
  Summit City
  
  2 beds, 2 full baths
  
  Lot size: 10,890 sq ft
- $500,000 - 47 Dunnell Rd
  Maplewood Twp.
  
  3 beds, 2 full, 1 part baths
  
  Lot size: 3,920 sq ft
  
  Year built: 1931
- $500,000 - 38 Burr Rd
  Maplewood Twp.
  
  4 beds, 2 full, 2 part baths
  
  Lot size: 7,840 sq ft
  
  Year built: 1933
- $3,800,000 - 41 Lafayette Dr
  Livingston Twp.
  
  6 beds, 5 full, 2 part baths
  
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- $2,595,000 - 6 Alan Dr
  Millburn Twp.
  
  4 beds, 4 full baths
  
  Lot size: 20,037 sq ft
  
  Year built: 1954
- $1,879,000 - 273 Woodland Rd
  Madison Boro
  
  6 beds, 4 full, 1 part baths
  
  Lot size: 30,056 sq ft
  
  Year built: 1953
- $1,088,000 - 28 Kilmer Dr
  Millburn Twp.
  
  5 beds, 3 full, 1 part baths
  
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  Lot size: 9,583 sq ft
  
  Year built: 1942
- $725,000 - 550 Fairmount Ave
  Chatham Twp.
  
  4 beds, 2 full, 1 part baths
  
  Lot size: 24,393 sq ft
  
  Year built: 1957
- $599,000 - MLS # 2919095
  Millburn Twp.
  
  3 beds, 2 full, 1 part baths
  
  Lot size: 5,662 sq ft
  
  Year built: 1926
- $544,000 - 42 Kensington Ter
  Maplewood Twp.
  
  3 beds, 2 full, 1 part baths
  
  Lot size: 6,098 sq ft
  
  Year built: 1936
- $999,999 - 401 Hobart Ave
  Millburn Twp.
  
  3 beds, 3 full, 1 part baths
  
  Lot size: 30,056 sq ft
  
  Year built: 1962
- $989,000 - 30 Dogwood Drive
  Madison Boro
  
  4 beds, 3 full, 1 part baths
  
  Lot size: 13,068 sq ft
  
  Year built: 1953
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