-FOR SELLERS –
Legal Fee
Generally $1,500-$2,000, depending on the attorney and the transaction.
$_______
Real Estate Commission
Depends on the terms of the listing agreement.
$_______
Realty Transfer Tax
Calculate here
Mortgage Payoff
$_______
Other Liens
Must be removed from property before sale.
$_______
Tax Adjustment
Usually a credit (sometimes a charge) to seller, to adjust for taxes paid short-of or beyond the closing date.
$_______
Water/Sewer Adjustments
$_______
Inspection Repairs
As may be required following inspection.
$_______
Association Fees
As may be required by Condo/Co-op Association.
$_______
Estimated Total
$_______
-FOR BUYERS –
Legal Fee
Generally $1,500-$2,000, depending on the attorney and the transaction.
$_______
Title Search/Insurance
Approximately .5% of purchase price.
$_______
Recording Fees
Required by local County clerk about $500 (per instrument to be recorded).
$_______
Survey
of property, if required, averages $650-$850.
$_______
Homeowners Insurance & (if applicable) Flood Insurance
Contact your insurance agent.
$_______
Mortgage Application Fee
set by lender, $250-$500.
$_______
Lender’s Attorney Review Fee
Contact Mortgage Representative
$_______
Credit Report and Appraisal Fee
Contact Mortgage Representative
$_______
Prepaid Interest
Paid to lender, covers interest on mortgage beginning from day of closing to end of first month.
$_______
Escrow Fees
Paid to lender, covering approximately…
3 months real estate taxes
3 months fire/flood insurance
3 months PMI premium where applicable.
$_______
Points
Paid to lender, usually 1-3 (1 “point” = 1% of mortgage).
$_______
Private Mortgage Insurance
Usually required if mortgage is more than 80% of purchase price.
Contact mortgage representative.
$_______
Termite/ Home Inspection
$_______
Association Fees
As may be required by Condo/Co-op Association.
$_______
Mansion Tax
1% of purchase price over $1 Million.
$_______
Estimated Total
$_______