TYPICAL  PURCHASER’S  CLOSING  COSTS

For Nassau & Suffolk

Depending on the price of the house and your mortgage,

 closing costs can range from $10,000 to $20,000.  

Mortgage Charges

Mortgage Broker Fee (if used)             0% to 3% of Mortgage

(Ask Mort. Broker)

Points to Obtain Mortgage or Rate       0% to 3% of Mortgage

(Ask Mort. Broker)

Appraisal Fee                                        $400.00

Tax Research Fee                                  $100.00

Flood Determination / Cert Fee                $ 20.00

Wire Transfer Fee                                  $ 40.00

Processing Fee / Application Fee              $400.00

Underwriting Fee                                   $250.00

Bank Attorney Fee                                 $550.00 to $750.00

Survey (if required)                                $500.00

Reserve Deposits & Pre-Payments

Pre-Paid Interest

                                               Mortgage Interest between closing

                                               and first payment

Pre-Paid Real Estate Taxes (½ year)

                                                Payable If Tax Bill Due within 45 days of closing

Real Estate Taxes Reserve Deposit                  

                                                2 Months Real Estate Taxes

Hazard  Insurance Reserve Deposit

                                                2 Months Hazard / Home Owner’s Insurance

Title Charges    (Estimates Only - Ask Attorney or Title Company)

(Not for Coop Apartments:

Coop Title Charges are $350-$500 plus Transfer Tax)

Title Insurance            

                                    For $100,001 to $500,000 Purchase Price

                                    Multiple Purchase Price by .00507

                                    For $500,001 to $1Million Purchase Price

                                    Multiple Purchase Price by .00452

Mortgage Premium      

                                    For $100,001 to $500,000 Mortgage

                                    Fee = (Mort. Amt. x .0046) x .30

                                    For $500,001 to $1 Million Mortgage

                                    Fee = (Mort. Amt. x .0036) x .30

Mortgage Tax                 Paid by Buyer = Mortgage Amt x .0080 

                                    (Total Tax is 1.05% - Bank pays balance)

                                    (NYC add extra tax of 1.0% to 1.25%)

Other Costs:

Termite Inspection and Engineers Report         $ 600.00

Legal Fee for your Attorney:                           $ 850.00 to $1,250.00

NOTE:   The Purchaser's Closing costs above are only estimated / typical costs.  Your actual costs will vary.  The amounts above Subject to Change without Notice.  Please Consult with your Attorney!