Living in Millburn-Short Hills NJ

and the surrounding areas

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Buyers Closing Costs

The Basic Costs Of Closing-

Legal Costs:

  • • Attorney Fee $1000-1500
  • • Survey Fee, ($150-$250 Condo) $450-$800 Single Family Home
  • • Title Search Fee, $250-$500
  • • Title Insurance Premiums  (These fees vary.  Your attorney can provide a schedule of New Jersey rates.)
  • Mortgage Costs:
  • • Application Fee ($300-$600)
  • • Appraisal Fee ($300-$600)
  • • Misc. costs such as Points and PMI should be discussed with your lender

Inspection Costs

  • • Home inspection $400-$750
  • • Radon Inspection $ 120-$300
  • . Termite Inspection $75-$150
  • • Oil Tank Inspection $400-$500
  • . Septic Tank $750-$1000
  • • Additional costs may include: structural engineer, chimney inspection, mold

Additional Expenses

  • • Homeowners Insurance
  • • Flood Insurance (when applicable for buyers)
  • 2 Months of Taxes in Reserve
  • 2 Months of Home owners Insurance in Reserve
  • Mansion Tax and Realty Transfer Tax-see below-

Most sellers in the state are required to pay a realty transfer tax — with the amount of the tax imposed on a rising scale depending on the sale price. In addition, for a sale above $1 million the mansion tax is imposed on the purchaser, although the sales contract between the parties can be drawn up so that the buyer, the seller or both the buyer and the seller pay the actual taxes.

Closing Cost Estimator

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Traditional Closing Expenses
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Lender Processing Fees $
Credit Report $
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Reconveyance Fee $
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Wire and Courier Fees $
Endorsement Fee $
Title Closing Fee $
Title Document Prep Fee $
Other Fees $

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Testimonials

Robin is a true professional, is extremely knowledgable on her markets, and has an uncanny ability to predict what a home’s “value” really is.

Dave and Nev

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About Robin Benjamin

Understanding the nuances of pricing requires local knowledge that isn't always available to buyers and sellers. This is particularly true in a location like Millburn-Short Hills, Chatham, and Summit.
Robin Benjamin

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Keller Williams Realty

Keller Williams Realty 488 Springfield Avenue, Summit, NJ 07901 - Keller Williams Realty 518 Millburn Avenue, Short Hills, NJ 07078