| COSTS ON THE SALE OF A PROPERTY |
 |
| State Conveyance Tax |
|
0.5% of Sales Price up to $800K
1% of Sales Price above $800K |
| Local Conveyance Tax |
.25% of Sales Price (Westport) |
| Realtor's Fee |
5% (Varies) |
| Attorney's Fee |
$1500+/- |
| Recording Fee-Release |
$10 (1 Page)--$15 (2 Pages) |
| Real Estate Taxes |
Unpaid Amount |
| Mortgage Payoff |
Unpaid Balance |
|
| COSTS ON THE PURCHASE OF A PROPERTY |
|
| Lender Fees |
| Application |
$200 - $500 |
| Appraisal |
(often included in application) |
| Points |
varies |
| Attorney's Fee |
$1500+/- |
| Title Search |
$100 - $150 |
| Title Insurance |
$325 per $100,000 |
| Recording Fee |
$10 (1 Page) -- $15 (2 Pages) |
| Tax Escrow (Usually 6 months) |
Determined by Lender |
| Tax Adjustment |
Buyer usually reimburses seller for remaining months in a 6 month period |
| Interest Adjustment |
Varies with closing date. Pro-rated to the date of the first mortgage payment |
| Other Adjustments |
| Utilities (Oil, Electric, Gas & Water) |
Varies |
| Common Charges (Condominium only) |
Varies with Complex |
| Association Fees (Private Homeowners, Beach Rights, Etc.) |
Varies with Association |
| Insurance |
$1000 + depending on the property |
| Administrative Fee |
$195 |
|
| COSTS OF VARIOUS INSPECTIONS (BUYER) |
|
| General Building Inspection |
$1000+/- |
| Water Test |
$35+ |
| Radon |
$100+/- Placement and Pick Up |
| Radon Mitigation System |
$1,200 +/- |
| Septic Dye Test |
Included in most inspections |
| Septic Cleaning and Inspection |
$350 +/- |
| Lead in Water |
$55 +/- |
| Pool Inspection |
$150 +/- |
| Asbestos Check |
$350+/- |
| Termite |
$250+(usually included in building inspection) |
| * Disclaimer: These fees are estimated costs only and are subject to change. Please contact your attorney for verification. |
