Estimated Closing Costs

 

Costs on the sale of a property

 
State Conveyance Tax           0.5% of Sales Price up to $800k of Sales Price above $800k

Local Conveyance Tax         .25% of Sales Price (Westport)
Realtor’s Fee                              5-6% (Realtor’s fees are negotiable)
Attorney”s Fee                           $1500+/- (varies)
Recording Fee                            $10-$15
Real Estate Taxes                     Unpaid Balance
Mortgage Payoff                       Unpaid Balance

 

Costs on the purchase of a property

Lender Fees
Application                                       $200-$500
Appraisal                                           sometimes included in application
Attorney’s Fee                                 $1500+/- (varies)
Title Search                                      $100-200
Title Insurance                               $325 per $100,000
Recording Fee                                 $10-$15
Tax Adjustment                              Buyer reimburses seller for remaining months paid
Interest Adjustment                      Varies.  Pro-rated to the date of the 1st mortgage payment
 
Other adjustments
Utilities (oil, electric, gas, and water)  varies
Common Charges                                          varies
Association Fees                                            varies

Insurance                                                          varies

 

Costs of Various Inspections
Building Inspection                                $1,000 +/-
Termite                                                        $300+/- (sometimes included in building inspection)
Radon                                                           $ 200+/-
Radon Mitigation System                    $1,500
Septic Inspection                                    $350+/-

 

*Disclaimer:  These fees are estimated costs and are subject to change.  Please consult with your attorney.
 

 

 

 

 

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