Then there are the title costs which are the next highest items, $500 per thousand and approximately $300 for title search and endorsements.
In addition, there is your home inspector, surveyor, if necessary, attorney fee, cost of recording Deed and Mortgage and Notice of Settlement (estimate â€“ $350) and surprise, surprise, finally the extra advance payments of taxes (usually 3 months, but can be 4, so take one-third of yearly taxes), and then there is about a month of mortgage interest.
If you estimate $10,000 for a house about $400,000, youâ€™ll be close.
I'm happy to forward you my contacts if you decide. Best of luck to you!
I still think you are better off with a Hoboken lawyer, notice that everyone who answered your question from Hoboken strongly urged you to go for a Hoboken lawyer. How much will you save? My lawyer cost me $1200, and don't forget the lawyer fees are tax deductable, so a few hundred dollars will come back to you. That in mind, is it worth it? Here's my lawyer details if you're interested: Edward S. Danhires, Esq., phone: (201) 418-0070 . Whether Ed or someone else, just get a Hoboken lawyer.
The JC attorney does not make a difference.. it is right next door.
Go with the JC attorney if it will save you some bucks.
The closing date also affects closing costs. You may be paying for 1-2 quarters worth of taxes on your closing, depending on the month you close.
Your best bet is to speak to a Hoboken real estate lawyer, and I recommend Brian Kappock ((201) 659-5555). Many of my clients have worked with him and his expertise is very solid. He's not the cheapest, but it's worth it. A JC lawyer may save you a few hundred dollars, but the quality of service won't make you happy. Buying a home is a serious affair, and skimping on the lawyer can cost you. A good lawyer will also ensure the deal goes through quickly and with minimal (or no) glitches.
Let me know if you need more info or help, and good luck.
For me, my lawyer did two things:
1- He closed the deal in a very aggressive 30 day timeframe as I requested
2- He got the deal done. On my closing day the bank backed out, my lawyer was on the phone nonstop with the mortgage company (also a Hoboken company) and basically got me that note to sign and close. My closing was on a Friday and I would have been delayed for THREE DAYS if it didn't go through. We closed on Friday at 5 PM
I hope this helps.
Oh closing costs for my 1 BR condo came out to be close to $9K, between lawyer fees, inspection, mortgage fees, escrow account deposites, and a lot of other fees lol.