Buyer Closing Costs

 

Own Attorney:                                   varies

 

Engineer’s Report:                            $600-$2,000

 

Termite Inspection:                           $200-$600

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Mortgage Associated Fees:    

 

Origination Costs – points:              0 - 3% value of loan

 

Application, Credit Check, etc.:       $500 + up

 

Appraisal:                                           $275 + up

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Bank Attorney:                                   $500 + up

 

UCC-1 Filing:                                      $50 + up

 

Mortgage Recording Tax:                  up to $500,000 is 1.75% of mortgage; over $500,000 is 1.875% of mortgage

 

Title Insurance, Title Search & Recording Fees:      not more than 0.5% of purchase

 

Building Searches:                            $200 - $400

 

Recording Charge:                            $17 per document plus $5 per page

 

Mansion Tax increases incrementally according to purchase price:

 

$1M   to less than $2M                       1.00%

$2M   to less than $3M                       1.25%   

$3M   to less than $5M                       1.50% 

$5M   to less than $10M                     2.25%

$10M to less than $15M                     3.25%   

$15M to less than $20M                     3.50% 

$20M to less than $25M                     3.75%   

$25M+                                                3.90%