Buyer Closing Costs
Own Attorney: varies
Engineer’s Report: $600-$2,000
Termite Inspection: $200-$600
Mortgage Associated Fees:
Origination Costs – points: 0 - 3% value of loan
Application, Credit Check, etc.: $500 + up
Appraisal: $275 + up
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%