Page 14 - Small Booklet Buyers Guide2023

Estimated Closing Costs

Costs on the Sale of a Property:
State Conveyance Tax .75% of sale price below $800,000
1.25% of sale price above $800,000
Local Conveyance Tax .25% of sale price
M Realtor’s Fee 5-6% (negotiable)
Attorney’s Fee
$1,500 +/-
UE TEA Real Estate Taxes Unpaid Balance
$10 (1 page) - $15 (2 page)
Recording Fee - Release
Mortgage Payo€
Unpaid Balance
State Compliance Tax
$195
RBL Costs on the Purchase of a Property:
NDE Lender Fees: application, appraisal $200-500
$1,500 +/-
Attorney Fee
$100-200
Title Search
Title Insurance
$325 per $100,000
THE VA Recording Fee $10 (1 page) - $15 (2 page)
Tax Escrow (usually 6 months)
Determined by the lender
Buyer pays pre-paid Real Estate taxes
Tax Adjustment
Interest Adjustment
Utilities (oil, gas, water) Prorated from closing date to end of month
varies
Common charges (condo) varies
Association Fees (beach rights) varies
Insurance varies
State Compliance Fee $195
Costs on Various Inspections:
General Building Inspection $500-900 +/- based on square footage
Water Test $135 +/-
Lead Test $300+/-
Radon
$145 +/-
Radon Mitigation System $1,300 +/-
Septic Dye Test Included in most inspections
Septic Cleaning & Inspection $300-375
Asbestos Check $250-350
Termite
$250
$350 +/-
Pool

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