Estimated buyer closing costs
$15,275
About 3.6% of the purchase price.
- Loan origination & underwriting$3,825
- Appraisal$650
- Credit report & lender fees$250
- Title search & lender's title insurance$2,125
- Attorney (NJ attorney review & closing)$1,500
- Home, radon & termite inspections$900
- Recording fees & transfer surcharge$300
- Prepaid taxes & insurance escrow$5,125
- Survey (if required)$600
How closing works in New Jersey
What is attorney review?
Once both parties sign the contract, each side's attorney has three business days to review and propose changes. The contract is not final until review is complete or waived.
Who pays the Realty Transfer Fee?
The seller pays the NJ Realty Transfer Fee at closing, calculated on a sliding scale. Buyers of homes over $1,000,000 also pay a 1% 'mansion tax'.
What does the seller have to provide?
A smoke detector / carbon monoxide certificate from the municipality, clear title, any required municipal inspections, and — in many towns — a certificate of occupancy.
Can closing costs be negotiated?
Yes. Seller concessions toward buyer closing costs are common, and lender fees vary between lenders. Comparing two lenders often saves more than negotiating the price.
Estimates use typical South Jersey figures and are for planning only. They are not a quote, a net sheet, or legal or tax advice.