ESTIMATED CLOSING COSTS FOR SELLERS
Below is a brief outline of the most common closing costs that a seller may encounter. This outline is for estimate purposes only and there may be different or additional charges necessary.
Transfer Tax: $4 per $1,000 of sale price
File TP-584: $5.00 (document to accompany deed recording)
Survey: $400-$600+, depending on the property
Water/Septic Testing: $200 (for private water and/or sewer)
Payable in advance of closing.
Septic can’t be tested in winter, seller must put money in escrow for potential repairs.
Abstract/Title Search: $125-$700 (depending if just continuation of existing abstract or preparing new one)
Attorney Fees: Generally, $450-$650; will be different with each attorney.
Bank Related Charges
(Separate from Attorney Fees or Charges)
Discharge of Mortgage: $31.50 (if 2 pages, $34.50)
Mortgage Payoff: The amount of your payoff balance.
Recording of Affidavits: $31-$40 (If necessary)
Capital Gains Affidavit: $5
Other Adjustments at Closing May Include:
Septic System Escrow
Water System Escrow
Sales Tax on Personal Property
Bank Tax Escrow
Nonresidential Real Property Estimated Income Tax-Form IT-2663