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 +/-
