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Estimated Closing Costs in New Jersey

Attorney Fees - $800.00 - $2,000

Attorney fees will vary.  Buyers may see higher rates then sellers.  Note that using an attorney is not necessary, however you will not have any legal representation in the transaction, unless you have one.  Real Estate Agents, while allowed to prepare contracts for Single Family, Multi Family (up to 4) Condominiums and Co-Ops, are not able to alter or terminate the contract once it is executed.

Property Survey (Condo $150 to $250) $450.00 to $800.00

Typically your house and land represent your largest assets.  You need to know what you're purchasing. Obtaining a survey may be the most important action you do before you close the deal on any purchase.  Only a survey map made by a licensed land surveyor can depict what you are purchasing. Your surveyor will perform research, survey the property and prepare a survey map that will reveal: 

  • If there are rights of others to use your property through easements for utilities or rights-of-way. 

  • The location of improvements such as buildings, fences, driveways, walkways, and swimming pools. 

  • Potential encroachments that may cause disputes, such as a fence or driveway of a neighboring property.

  • Whether or not the legal description correctly describes the property.

It is essential that you know the boundaries of your land before you buy it.  A survey explains your purchase by revealing encroachments or other irregularities that might lead to future legal disputes. You may elect to have your surveyor mark the corners of your site with survey monuments or prepare a FEMA Elevation Certificate.

Recording Fees with Mortgage & Deed $200.00 to $300.00

This is a fee charged by a government agency for registering or recording a real estate purchase or sale, so that it becomes a matter of public record. Recording fees are generally charged by the county (such as in the United States), since it maintains records of all property purchases and sales.

Title Searches/Title Policy Endorsements $250.00 to $500.00

In real estate business and law, a title search or property title search is the process of retrieving documents evidencing events in the history of a piece of real property, to determine relevant interests in and regulations concerning that property.

In the case of a prospective purchase, a title search is performed primarily to answer three questions regarding a property on the market:

  • Does the seller have a saleable and marketable interest in the property?

  • What kind of restrictions or allowances pertain to the use of the land? These would include real covenantseasements and other equitable servitudes.

  • Do any liens exist on the property which need to be paid off at closing? These would be mortgages, back taxesmechanic's liens, and other assessments.

A title search is also performed when an owner wishes to mortgage his property and the bank requires the owner to insure this transaction.

Title Insurance Premium (obtain from lender or attorney)

Title insurance is a form of indemnity insurance predominantly found in the United States which insures against financial loss from defects in title to real property and from the invalidity or unenforceability of mortgage loans.

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