BUYERSCOSTs

Legal, Title & Settlement Costs

· Attorney Fees  $600 to $1200

· Survey (Condo $250 to $450) $450 to $900 (if applicable)

· Recording Fees $100-$400

· Contact Ashleigh for Title Insurance quote

  (Based on sales price)

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Escrows & Pre-Paids

· Taxes—1 quarter paid at closing, additional taxes in

   reserve account

· Homeowners Insurance– 1 year paid at closing, additional

   HOI in reserve account

· Homeowner’s Association Fees– Statement of Accounts

   needed for fees

· Flood Insurance (if applicable)

· Tax, sewer, water, oil in tank, HOA adjustments

NJ Mansion Tax on Residential Properties

· 1% of the purchase price on all residential homes over

  $1 million

Lender Fees

· Contact your lender for lender fees

SELLERSCOSTs

Legal Fees 

· Attorney Fees  $700  to $1500

· Lien Release Fees $100-$200

Certifications

· Certificate of Occupancy $40 to $150

· Smoke Certification $25 to $150

· Carbon Monoxide Certificate $25 to $75

Non– Resident Income Tax

· 2% withholding for non-residents selling a NJ property & not      

  filing NJ tax returns. Sellers should speak to their accountant  

  about this tax and a potential rebate

NJ Realty Transfer Fee

· NJ State Tax paid by all sellers in NJ

· Discount available for senior citizens over 62 Payoffs

· Mortgage Payoffs for mortgage balance & any outstanding

   items on the property

Real Estate Commission

· Per Listing Agreement

Adjustments

· Taxes, water, sewer, oil in tank, HOA