Shopping Cart
Your Cart is Empty
There was an error with PayPalClick here to try again
CelebrateThank you for your business!You should be receiving an order confirmation from Paypal shortly.Exit Shopping Cart

Real Estate Law Blog


Purchaser's Closing Costs

Posted on January 30, 2012 at 12:41 PM

Purchasing a home involves more out-of-pocket expense than just the down payment. There are also closing costs to pay for items such as title policies, recording fees, inspections and fees that a lender charges for obtaining a mortgage. The following schedule is an estimate of the closing costs that a buyer can typically expect to pay at closing.

Taxes: (if applicable)

Mansion Tax                                                  1% of purchase price when $1,000,000 or over

Mortgage Recording Tax (NYC)
• Sales under $500,000                                  1.8% of entire mortgage
• Sales $500,000 and over                             1.925% of entire mortgage

Note:  Click here to view table of mortgage recording tax amounts by county. Mortgage recording tax does not apply for cooperative apartment purchases.

Mortgage Associated Fees:

Origination Costs – points                             varies, usually 0 - 3% value of loan

Appraisal                                                        $350 (approx)

Underwriting                                                  $450 (approx)

Processing                                                      $450 (approx)

Application                                                     $350 (approx)

Bank Attorney                                                 $850 + up

Real Estate Tax Escrow                                  2-6 months
Short Term Interest                                         varies, depends on the day of the month in which the closing occurs

Title Insurance Fees

Owner and Lender Title Policies                     5% - 7% of purchase price (approx)

Municipal Searches                                          $450 (approx)

Deed Recording                                                $375-750 (approx based on county)

Real Estate Taxes                                             varies

Note: Purchasers of cooperative apartments usually do not purchase title insurance, and instead pay for a lien search which is approximately $450.  However, see our blog entry, Co-op Buyers Should-Consider Purchasing Title Insurance, which explains particular situations in which it is advisable for purchasers of cooperative apartments to purchase a type of title insurance policy called an Eagle 9 policy.

Homeowner’s Insurance:

Policy                                                                varies depending on lender's required coverage and purchase price

Home Inspection:

Home and Termite Inspection                           $450 (approx)

Legal Fees:

Purchaser's Attorney                                        fee varies, but usually flat-fee basis (consult with your attorney)             

To speak with an experienced real estate attorney about a closing, call us at (516) 314-8433.  To learn more about our real estate closing services visit us at:

Categories: Real Estate, Real Estate Closing Costs

Post a Comment


Oops, you forgot something.


The words you entered did not match the given text. Please try again.


Reply supreme clothing
2:57 AM on August 27, 2021 
I truly wanted to type a small remark to say thanks to you for the amazing items you are writing on this site. My incredibly long internet investigation has now been paid with good facts to write about with my great friends. I 'd assume that we visitors are undoubtedly endowed to live in a useful place with many brilliant people with beneficial opinions. I feel quite privileged to have discovered your entire web page and look forward to plenty of more excellent minutes reading here. Thanks once more for a lot of things.
supreme clothing
Reply supreme clothing
2:58 AM on August 27, 2021 
I definitely wanted to post a quick note to thank you for these remarkable recommendations you are showing on this site. My rather long internet search has at the end been paid with wonderful facts and techniques to talk about with my friends and classmates. I would tell you that most of us readers actually are undoubtedly lucky to dwell in a good website with many lovely professionals with good advice. I feel truly privileged to have discovered the web pages and look forward to tons of more entertaining times reading here. Thanks again for all the details.
supreme clothing
Reply jordan 12
2:58 AM on August 27, 2021 
I'm writing to let you know of the superb encounter our princess experienced checking the blog. She came to find several pieces, with the inclusion of what it is like to possess a marvelous coaching character to have many more clearly know just exactly specific multifaceted topics. You actually exceeded visitors' expected results. Thank you for offering these important, trustworthy, informative as well as easy tips about your topic to Janet.
jordan 12
Reply kyrie 6 shoes
2:58 AM on August 27, 2021 
I simply had to thank you so much once again. I am not sure the things that I could possibly have taken care of without these techniques shared by you relating to this topic. It actually was a real intimidating difficulty in my circumstances, but understanding your skilled tactic you resolved that forced me to leap with gladness. I'm just thankful for your guidance and as well , expect you realize what an amazing job you have been putting in educating many people through your web site. More than likely you haven't encountered all of us.
kyrie 6 shoes
Reply a bathing ape
2:58 AM on August 27, 2021 
I intended to draft you that very small word to help give thanks the moment again with the great thoughts you've featured on this website. This has been simply extremely generous of you to present publicly what a few individuals could possibly have marketed as an electronic book to generate some money for themselves, certainly since you could have done it in the event you decided. Those concepts as well worked like the good way to recognize that some people have a similar interest just like my very own to know the truth great deal more in regard to this problem. I think there are lots of more fun moments up front for individuals that see your website.
a bathing ape
Reply curry shoes
2:58 AM on August 27, 2021 
My wife and i have been very thankful that Edward managed to carry out his survey via the precious recommendations he discovered through your web pages. It's not at all simplistic to simply happen to be giving out guides which often some other people could have been trying to sell. And we also discover we have the blog owner to be grateful to because of that. The most important illustrations you made, the easy site menu, the relationships you will give support to engender - it's got many excellent, and it is facilitating our son in addition to us imagine that the idea is interesting, which is certainly unbelievably indispensable. Thank you for the whole lot!
curry shoes
Reply kyrie irving shoes
2:58 AM on August 27, 2021 
I simply desired to appreciate you once more. I'm not certain the things that I could possibly have gone through without those pointers contributed by you regarding this industry. It was actually a distressing dilemma for me personally, nevertheless noticing this skilled mode you dealt with it forced me to weep for gladness. Extremely grateful for this guidance as well as believe you realize what an amazing job that you are getting into teaching people today using your blog. I am certain you have never met all of us.
kyrie irving shoes
Reply ggdb
2:59 AM on August 27, 2021 
I must express some appreciation to this writer just for rescuing me from this type of difficulty. After looking out through the the web and meeting advice that were not helpful, I was thinking my entire life was done. Being alive devoid of the approaches to the problems you have sorted out as a result of your good short post is a crucial case, as well as the ones that would have adversely affected my career if I hadn't encountered your website. Your primary mastery and kindness in maneuvering all areas was priceless. I am not sure what I would have done if I had not come across such a subject like this. It's possible to at this point look ahead to my future. Thanks for your time very much for your professional and amazing guide. I will not think twice to recommend your web sites to anyone who requires guidelines about this issue.
Reply cheap jordans
2:59 AM on August 27, 2021 
I wanted to post you that little observation to finally thank you very much yet again for these remarkable knowledge you've contributed on this website. It's so shockingly generous of people like you in giving openly what most people would have supplied for an e book to earn some money on their own, precisely given that you could have tried it if you considered necessary. Those things likewise acted like the great way to realize that many people have similar fervor the same as my own to realize much more pertaining to this matter. I believe there are several more enjoyable opportunities up front for folks who look into your blog post.
cheap jordans
Reply giannis shoes
2:59 AM on August 27, 2021 
I intended to compose you this little word in order to give many thanks yet again about the spectacular views you have provided here. It was quite generous with people like you to supply unreservedly all that most people could have marketed for an electronic book to earn some bucks for themselves, and in particular considering that you might well have done it if you decided. These things additionally acted to become a good way to be certain that some people have similar interest like mine to find out many more on the subject of this issue. I know there are thousands of more pleasant sessions up front for folks who scan through your blog post.
giannis shoes
Reply lebron james shoes
5:03 AM on August 30, 2021 
I wanted to put you the tiny word to say thanks a lot again for your breathtaking suggestions you have shown in this case. It's so particularly generous of people like you to provide unhampered precisely what some people might have sold for an electronic book in making some bucks on their own, certainly considering that you might have done it if you desired. These pointers additionally served to become fantastic way to fully grasp that many people have the same keenness just as my very own to realize lots more in terms of this matter. I'm sure there are several more fun moments ahead for folks who find out your blog post.
lebron james shoes
Reply kd shoes
5:04 AM on August 30, 2021 
I wanted to type a simple comment to thank you for all the awesome information you are posting on this website. My prolonged internet investigation has now been honored with professional know-how to go over with my good friends. I would state that that we website visitors actually are definitely lucky to be in a superb network with so many perfect individuals with beneficial suggestions. I feel quite privileged to have used your entire web pages and look forward to tons of more fun times reading here. Thank you once more for everything.
kd shoes
Reply michael jordan shoes
5:04 AM on August 30, 2021 
A lot of thanks for your own hard work on this site. My daughter take interest in doing investigations and it is easy to see why. We all hear all concerning the dynamic mode you present rewarding guides via this web site and even boost participation from some other people on the concern so our child is always becoming educated a great deal. Enjoy the rest of the year. You're conducting a good job.
michael jordan shoes
Reply golden goose sneakers
5:04 AM on August 30, 2021 
I want to show my thanks to this writer just for bailing me out of this type of circumstance. Because of surfing through the online world and coming across things which are not pleasant, I was thinking my life was done. Existing minus the approaches to the difficulties you've solved as a result of your post is a crucial case, as well as those which might have negatively affected my career if I hadn't encountered your site. Your personal talents and kindness in playing with a lot of things was invaluable. I don't know what I would've done if I hadn't encountered such a solution like this. I am able to at this moment look forward to my future. Thanks for your time very much for the reliable and amazing guide. I will not be reluctant to recommend your web sites to any person who needs assistance on this subject.
golden goose sneakers
Reply supreme outlet
5:04 AM on August 30, 2021 
My spouse and i felt now more than happy Michael managed to complete his investigations while using the ideas he discovered through your web page. It is now and again perplexing just to always be handing out methods which often the others may have been trying to sell. We fully understand we have the writer to give thanks to for that. The illustrations you made, the simple site navigation, the friendships you help to instill - it's most spectacular, and it's leading our son in addition to us know that that concept is interesting, which is certainly really vital. Many thanks for the whole thing!
supreme outlet
Reply golden goose sneakers
5:04 AM on August 30, 2021 
I wish to convey my appreciation for your generosity in support of those individuals that must have guidance on this subject matter. Your personal dedication to getting the message around had become exceptionally insightful and have without exception encouraged women much like me to reach their desired goals. Your warm and helpful help signifies much a person like me and much more to my peers. With thanks; from each one of us.
golden goose sneakers
Reply supreme clothing
5:04 AM on August 30, 2021 
Thank you so much for providing individuals with an extraordinarily memorable possiblity to read in detail from this blog. It is always so superb and also jam-packed with a lot of fun for me personally and my office colleagues to visit your website nearly 3 times weekly to learn the new secrets you have. And indeed, I'm so at all times motivated considering the outstanding principles served by you. Selected 1 areas in this article are in truth the most effective I've had.
supreme clothing
Reply supreme hoodie
5:04 AM on August 30, 2021 
My spouse and i ended up being so delighted when Emmanuel managed to finish off his homework through the entire ideas he obtained from your web page. It is now and again perplexing to just always be offering helpful hints which often many people might have been trying to sell. We grasp we've got you to appreciate for that. The type of explanations you made, the simple web site menu, the friendships your site make it easier to foster - it's most sensational, and it's really letting our son and the family recognize that the article is satisfying, which is incredibly pressing. Many thanks for all!
supreme hoodie
Reply moncler
5:04 AM on August 30, 2021 
I'm just commenting to make you know of the wonderful discovery my friend's princess gained studying yuor web blog. She even learned a good number of pieces, which include what it's like to possess an incredible helping nature to make most people really easily know several advanced topics. You truly surpassed my expectations. Many thanks for giving these informative, trustworthy, revealing and in addition fun guidance on the topic to Sandra.
Reply yeezy
5:05 AM on August 30, 2021 
I actually wanted to compose a small word so as to say thanks to you for those wonderful advice you are giving out here. My time consuming internet look up has at the end been honored with good quality details to go over with my partners. I would believe that we website visitors are extremely fortunate to dwell in a superb network with very many wonderful people with useful points. I feel extremely privileged to have encountered your webpages and look forward to tons of more brilliant times reading here. Thank you once again for everything.
Best Real Estate Attorney Award