orly
chen bergen county's leading real estate agent
O: 201.567.9191 / C:
201.803.9611
“It's very important
that you know what fees are involved when you sit
down to close a real estate deal in Bergen County –
keep an open eye.”
Bergen County, NJ
Real Estate Closing Costs
Closing costs are the fees
that accompany the purchase or sale of a home. Some fees are
strictly the designated responsibility of the buyer or the seller,
while the responsibility for other costs may be negotiated among
the parties, or divided according to New Jersey custom. A real
estate professional like Orly Chen can let you know what to expect,
and where you room to negotiate the costing costs.
Buyer Closing Costs
Closing costs for a home typically run two to four percent of
the purchase price, with loan fees charged by the lender usually
being the costliest fee. The following is a list of costs the
homebuyer can typically expect to pay in New Jersey. Some closing
costs, like the home inspection, will be paid only once. Other
costs, such as insurance premiums, will be paid on a recurring
basis. While all these fees are considered “closing” costs,
some of the fees, such as the loan application items, will be
paid in advance of the actual closing date. • Down payment • Loan fees (points, application fee, credit report) • Prepaid interest • Home inspection fees • Appraisal cost • Mortgage insurance (typically 1 years premium plus an escrow
of 2 months) • Hazard insurance (typically 1 years premium plus an escrow of
2 months) • Title insurance • State, county or city transfer taxes • Attorney fees • Courier/delivery service • Notary
Seller Closing Costs
The chief closing concern for sellers is paying off the remaining
balance of their loan, if one still exists. This balance must
be paid at the closing before the seller can receive any proceeds
from the home sale. Other costs the seller may typically encounter
include: • Broker's commission • Local property transfer tax; county transfer tax, state transfer
tax, state capital gains tax. • Mortgage release verification • Courier/delivery service • Attorney’s fee • Notary • Title insurance • Property taxes (prorated)
About Orly Chen
Orly
Chen is a leading
Tenafly real estate agent
in Northern New Jersey
specializing in the Bergen
County area. Her
outgoing personality,
honesty and
approachability and
integrity make Orly
one of the most sought-
after agents in the
Northern New Jersey
real estate market
