Page 12 - Laurie Quatrella Buyer's Guide 2023

Estimated Closing Costs

Costs on the Sale of a Property:
M State Conveyance Tax .75% of sale price below $800,000
UE TEA Local Conveyance Tax 1.25% of sale price above $800,000

.25% of sale price
Realtor’s Fee
5-6% (negotiable)

$1,500 +/-
Attorney’s Fee
RBL Recording Fee - Release $10 (1 page) - $15 (2 page)

Unpaid Balance
Real Estate Taxes
Mortgage Payoff

Unpaid Balance
State Compliance Tax

$195
NDE Costs on the Purchase of a Property:
A Lender Fees: application, appraisal $200-500
THE V Attorney Fee $1,500 +/-

$100-200
Title Search
$325 per $100,000
Title Insurance
$10 (1 page) - $15 (2 page)
Recording Fee

Tax Escrow (usually 6 months) Determined by the lender
Tax Adjustment Buyer pays pre-paid Real Estate taxes
Interest Adjustment Prorated from closing date to end of month
Utilities (oil, gas, water) 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
Pool $350 +/-

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