Signs Your Elderly Parent in New Jersey May Need Help As our parents age, recognizing…
NJ Buyer Closing Costs
Title Costs & Legal Fees
| Attorney Fee | $1,000-$1,500 |
| Survey | $450-$800 |
| Recording Fees (Mortgage & Deed) | $200-$300 |
| Title Search/Policy Endorsements | $250-$500 |
| Title Insurance Premium | Consult attorney or lender |
Mortgage Costs
| Application Fee (Credit Report included) | $300-$600 |
| Appraisal | $400-$600 |
| Misc. Mortgage Costs (Consult your lender) | $100-$600 |
| Private Mortgage Insurance (PMI) | Consult lender |
| Points | Consult lender |
| One point = 1% of mortgage i.e. 1 point on a $700,000 mortgage is $7,000 Points are a fee to “buy down” the interest rate on a mortgage. |
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Inspection Costs
| Home Inspection | $400-$900 |
| Radon Inspection | $120-$300 |
| Termite Inspection/Certification | $75-$150 |
| Septic Inspection (if applicable) | $400-$1,000 |
| Oil Tank Inspection (if applicable) | $395-$500 |
| Asbestos, Chimney and Mold | Costs vary |
| Other Inspections (if needed) | |
| Homeowner’s Insurance – Prepaid 1 Year | Consult Insurance Company |
| 2 Months Escrow Homeowner’s Insurance | Consult Insurance Company |
| 3 Months Property Taxes Escrow | |
| Mansion Tax (if applicable) 1% of consideration when sales price is over $1,000,000 – Residential Zone Use |
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