Closing Costs

Estimated Costs on the Purchase of a Property

Lender Fees:

  • Application $200-$500
  • Appraisal (often included in application)
  • Points varies
  • Attorney’s Fees $1500 +/-
  • Title Search $100-$150
  • Title Insurance $325 per $100,000
  • Recording Fee $10 (1page) ~ $15 (2pages)
  • Tax Escrow (usually 6 months) determined by lender
  • Tax Adjustment buyer usually reimburses seller
  • Interest Adjustments varies with closing date

Other Adjustments:

  • Utilities (Oil, Electric, Gas & Water) varies
  • Common Charges (Condo only) varies with complex
  • Association Fees varies with association
  • Insurance $1000 + depending on the property
  • Administrative Fee $195 +/-

 

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