Get new listings emailed daily! JOIN SIGN IN
CJ Davies
(609) 713-8952
Broker / Sales Person
Facebook Icon LinkedIn Icon YouTube Icon Instagram Icon Zillow Icon 

Estimated Buyer Closing Costs

You might be saving up for a down payment. 3.5%, 5%, 20%... but do you know how much more you will have to bring to the closing table? It is important to understand the additional fees and services involved in purchasing a home in order to allocate enough cash or decide to see if requesting a seller credit is right for you.


Please keep in mind that these are estimated costs and will vary based on the price of the home, the type of mortgage and your location.


Mortgage Fees

These are fees that are charged by your mortgage company in order to process your loan.

Appraisal Fee $400-$600 

Credit Report - $50-$400

Tax Service - $100-$200

Rate Lock Fee -  $800-$1,000

Application / Origination Fee - $800-$1,000

Escrow 3 Months Property Taxes - (Ex. $5,000/yr Taxes = $1,250) 

Escrow 3 Months Home Owners Insurance - (Ex. $1,200/yr Insurance = $300)

Pre-Paid Interest - This would be a perdiem charge based on the day of the month that you close and your interest rate


Professional Fees

Attorney Fee - $1,000-$1,500

It is not required in the state of New Jersey to use a real estate attorney, but it is highly reccommended.  They will aid in the negotiation of home inspection issues, coordinate the title and closing, and protect your interests during the process.  I suggest using a local attorney in the area of which you are buying as there are many local factors and professional protocol that go into a real estate transaction that do not apply in other areas.



Title Search - $1,000-$1,500

There are multiple fees that are associated with a good title search.  These can include important state and federal searches, tax searches, tidelands searches as well as notary, delivery, and recording fees that are associated with ensuring you have clear title to the property



Title Insurance - $1,200-$1,500 or (0.5% of the value of the home)

Title insuance is issues to protect you, the homeowner from any encumbrances that might have been overlooked or omitted in the search that was done prior to closing.  This price can vary with the purchase price of the home for larger homes.



Home Inspection - $400-$600

A good home inspection is a very important aspect to buying any home, even new construction.  This will uncover any hidden defects including flood damge and provide a thorough inspection of any attics, crawl spaces or basements.  Being present at the home inspection is important since a good home inspector will go over all of the utilities in the home, how to use them and how to care for them.  Even if there are no major issues with the home, you will learn about potential hazards, how to avoid future issues and general tips on  proper home ownership.



Survey - $750- $1000

Most banks and/or townships will require a new survey of the property that you are purchasing.  This will ensure that no illeagle structures or encumbrances have been put on the property since it was last reviewed.  It allows you as the home owner to see where sheds and fences can be added and if any additions or additional sturctures can be built.  Some times the fee for this will be adjusted upward if the property is larger or difficult to navigate.



Miscelaneous Fees

Recording Fees - $150-$300

The title of your home, the deed and your mortgage must be recorded.  There are small fees to ensure this is done correctly and in a timely manner.


Utility Proration - $???-$???

Most closing will involve perdiem prorations of the Water/Sewer/Electric and Taxes based on the previous owners payments and the day of the month that you are closing. This will vary from day to day in any transaction.


Elevation Certtificate - $400-600

In the wake of hurricane sandy, flood insurance has been an ever increasing concern in the real estate world.  This is the document that your flood insurance company will use to determine your flood rates. This is typically done by the surveyor when they are completing the survey and most likley will be packaged together.  Obviously, this only applies to homes in a flood zone.  To see if your property is in a flood zone, please click Here


Mansion Tax  - 1% of the Purchase Price ( Ex. $1,500,000 Price = $15,000 Tax)

If you are purchasing a home over $1,000,000 in the state of New Jersey you are required to pay what they call a mansion tax. This is paid by the buyer to the state of New Jersey.  This does not apply to vacant Land over $1,000,000.


Additional Insurance Payments

Depending on the transaction, some insurance companies will take 3 months-12 months of the premium up front at closing.  This can be on top of the 3 month escrow refered to above that your mortgage company will require so double check with your attorney, title or insurance company prior to closing.


Flood Insurance Premium

If you are in a flood zone, you will most likley be asked to pay your yearly premium upfront as this does not get escrowed by the bank.


Customer Reviews

CJ was amazing through the entire process of selling our home. He knows the ins and outs of the sale process and was able to catch a few things before they became an issue. Would recommend CJ for any real estate transaction you might be thinking about!

My wife and I had a great experience using CJ as our realtor. Being an out-of-state buyer presents some unique challenges. CJ accommodated all our requests. He was always available for phone calls and questions. I would recommend using his skills and expertise for your next home purchase.

Honesty, integrity and professionalism is what you can expect from CJ. He will guide you through the process, making it all so simple and smooth. He is very informative and helpful throughout it all. Thank you CJ. Looking forward to our next transaction.

CJ worked out great!! He helped us get where we wanted to be without bringing the ego and drama that we have experienced with previous realtors. Two thumbs up from this couple ????

CJ went above and beyond for our home buying experience. Extremely knowledgeable of the area and led us to the best in the field to bring us to closing as soon as possible. Extremely professional and genuine. We never doubted that he had our best interest at heart. Got us an amazing deal on our home. If you need a realtor look no further. As far as we are concerned, he is the best in the field and the only one we’d ever hire.

CJ is very professional and knowledgeable. He helped us to create an awesome listing and we received a solid offer right off the bat. He worked to help us find a home and even in a tricky situation, we were able to purchase a wonderful new home thanks to him and his team! I would highly recommend working with CJ if you're in the market!

Alissa Walkoviak

CJ is a standup guy. Always answers right away is very reliable and he has a great smile! The process of selling my house was quick and easy. No issues whatsoever. His knowledge of real estate saved me a huge headache in the long run and I'm soooooo grateful I chose CJ as my realtor. He honestly knows what hes doing it was a very good experience! I'm very happy

CJ made everything so easy. He knew what I was looking for and he delivered. He was able to streamline the process and get me to closing quickly. I am very, very pleased! It was a pleasure working with him.

CJ was really amazing at responding to texts and calls. He also was really helpful in answering any questions about the the homes I looked at. If there was ever a time he had to look into something he was always diligent on getting back to me. Overall, I had a really positive experience with CJ during my 1st home buying experience.

Working with CJ was one of the best decisions we made when we were looking to purchase a new home. It took us months of looking at different properties before we found the right one. Throughout the process he was extremely flexible with his time, always available for questions, and he carried a wealth of knowledge in the real estate industry. Finding the right home was only half the battle. Once CJ was able to secure a contingency deal on our dream home he had to list our home and sell quickly. Sure enough, less than two weeks on the market and we had multiple offers and were under contract. Purchasing a home and selling a home at the same time was stressful. CJ made both happen for us rather seamlessly. He was often the voice of reason when we were overwhelmed by the process and took time to explain things and guide us. We would choose to work with CJ 100x over again and highly recommend him!

Want to know more?

Buying a Home
  • Incorrect please try again
    Enter words: Enter numbers:
    Refresh Captcha
    Audio Captcha
    Text Captcha
    Captcha Help
Disclaimer: All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information on this site was last updated 02/04/2023. The listing information on this page last changed on 02/04/2023. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Ocean County MLS (last updated Thu 09/12/2019 11:22:12 AM EST) or Bright MLS (last updated Sat 02/04/2023 6:45:18 AM EST). Real estate listings held by brokerage firms other than Davies & DeGennaro may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved. --

Privacy Policy / DMCA Notice / ADA Accessibility

Login to My Homefinder

Login to My Homefinder