Buyers Estimated Closing Costs

Buyers Estimated Closing Costs

Prior to closing, the Buyer will be required to pay for all inspection fees, mortgage application fees and to place a 10% deposit in escrow by the time contracts are executed. The balance of Buyer’s closing costs is paid at the time of closing. (For specific costs, please consult with vendors as charges may vary.)



10 % Upon signing of contracts (Typical, but negotiable)

Inspection fees*

Structural:                                $650 minimum

Termite:                                    included in some inspections

Radon (air & water):                  $125 and up

Septic:                                     $350 +

Asbestos:                                 $250 minimum

Water Potability:                       $200 +

Oil Tank:                                  $350 minimum

Lead Paint:                               $350 minimum

Mold Inspection                        $350 minimum

Well Condition                          $350 minimum

*Can be more depending on size & condition of structure


Mortgage Application Fee

Credit Report:                            $50

Appraisal:                                  $250 minimum

Application:                               $50-$300



Balance of Equity

Purchase Price

Less down payment

Less mortgage proceeds


Pro-rated Adjustment to Seller, as applicable

Credit to Seller of taxes paid through end of tax period

Common charges paid by Seller through end of month

Oil remaining in tank

Gas remaining in propane tank

Balance on security system


Title Charges

Search:              $150-$175

Premium:          $3 per $1,000 – Title Insurance (Usually included in attorney fee)


Bank Charges – check with mortgage company for specific amounts

Application fee:                          $50 – $300 +

Points/ Loan origination fee (1 point +1% mortgage)

Per diem interest from day of closing through end of month

Tax escrow:                               up to (6) six months

Insurance escrow:                      (2) two months

Flood certification:                     $25 +

Tax Service Fee:                         $75-$100 +

Bank Attorney Fee:                     $500 +

Document Preparation:              $250 +

Survey of property if required by lender: $500-$1,000


Attorney Fee: Varies with attorney and transaction ($900 and up)


Recording Fee: $60-$70



Homeowners insurance:                         $300 and up

Proof of current policy is necessary at closing

Title Insurance:                                     $400 and up depending on mortgage

Private Mortgage Insurance (PMI):          if financing more than 80%




NOTE:  Buyer and Seller must check with their attorneys as to actual, applicable or addition costs.

Updated 12/14/21