This is a general guideline as to what closing costs are involved when you are purchasing a property. The amounts can be different. All of these may not apply depending on your particular situation. Please remember this is a very general and only to be used as a guideline.
- Title Search and Insurance
- The cost for this is set by the states this ensures that every title company charges the same for this service.
- The cost for this is based on the purchase price of the property.
- Attorney’s Fees
- This is based on your attorney. A typical charge for this is between $800 and $1200. Please choose an attorney early in the process and know how they are charging you. Some attorneys will have a flat fee and others charge by the hour.
- Miscellaneous Items
- Appraisal $300-$400
- Flood Search $10-$30
- Survey $300-$700 (lower end for condo)
- Recording Costs $200-$600
- Mortgage Fees (Based on Lender and Product used)
- Interest for mortgage until end of month
- Escrow for PMI
- Escrow for Taxes
- Escrow for Insurance
- Other fees from mortgage company
- Condo Association Charges
- Escrow for dues
- Membership Fee $200-$500
- Ownership Change Fee $50-$100
Total Closing Costs are typically between $5,000 and $8,000 dollars
* This is to be used only as a guide subject to errors and omissions.