List Of Buyers’ Real Estate Closing Costs
New Jersey
| Type of Closing Costs | Amount and Details |
|---|---|
| Lenders Costs: | |
| Application Fee | $300 - $700 due with application |
| Credit Report | $50 -$100 |
| Appraisal | $275 - $750 |
| Tax Service Fee | $100 |
| Flood Certificate | $40 required on all properties |
| PMI | $_________ if mortgage exceed 80% of sale price |
| Mortgage origination points | $_________ at settlement, .5-3% loan amount |
| Lock in fee | $_________ 1% up front for anything over 60 days |
| FHA & VA funding fee | $_________ based on loan amount |
| Pre-Paid & Escrows: | |
| Homeowners insurance | $500 - $1900 One year paid in full |
| Homeowners | $_________ One month in escrow |
| PMI | $_________ If mortgage exceed 80% |
| Tax escrows | $_________ 2 to 5 months, at closing |
| Interest adjustment | $_________ at closing |
| Attorney Fees | |
| Fee | $700 - $2000 |
| Attorney/Lender review Fee | $100 - $600 some lenders do not charge for this |
| Notice of settlement | $10 - $50 |
| Title Search | $250 - $600 |
| Title Insurance for NJ | Rate per $1,000 or Fraction Thereof |
| Policy #______________Basic__________Reissue | |
| 0 - $100,000___________5.25___________4.25 | |
| $100,000 - $500,000____4.00___________3.25 | |
| $500,000 - $2,000,000___2.75___________2.25 | |
| Over $2,000,000________2.25___________2.00 | |
| Survey | $250 - $1,000 lower rate if recently surveyed |
| Recording Fees | $40 - $90 deed and mortgage filed in County Court |
| Miscellaneous | $_________ notary, courier fees |
| Other Items: | |
| Millionaires Tax | 1% property selling for $1 million & up |
| Earnest Money | $1,000 with contract ($5,000 with new construction) |
| Deposits | $_________ deposit due 10 days after attorney review. |
| $_________ remaining portion at closing in certified funds | |
| Flood Insurance | $500 - $1400 varies depending on flood classification |
| Home Warranty | $_________ optional |
| Miscellaneous | $_________ adjustments for oil, other credits to seller |
| Condo Fees | |
| Association Dues | $_________ current monthly fee |
| Association Application | $200 - $1000 paid to Management Co. or Association |
| Inspections | |
| Insect Infestation | $40- $120 required by lender |
| Engineering | $250 - $600 structural review (depend on # of rooms) |
| Oil Tank Test | $300 check for leaks |
| Radon | $90 - $200 standard test in NJ |
| Well Water Test | $500 required by the State of NJ/DEP paid by the seller |
| Lead Paint | $400 & up depends on the number of rooms |
| Septic | $_________ required inspection |
| Oil Tank Scope | $200 - $300 search for abandoned oil tank |
* These are estimates and are subject to change without notice & are not guaranteed.
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