Buyer Costs Associated With Closing
Land Bank Fee 2% of purchase price due in full at Closing -- This is not a tax.
Adjustments: - tax - fuel - association dues Lender’s fees (vary from lender to lender)
Attorney’s fees range between $1000 - $5000 and above
Title insurance - $3.50 / $1000.00
Recording fees (buyer) - $125.00 Ordering municipal lien certificate $25.00 Recording municipal lien certificate $65.00 Note: This protects the buyer against any unrecorded liens on the property
Mortgage recording $175.00
If the property is to be in a Trust Recording Certificate of Trust $75.00 Declaration of Trust is $225.00, but is not used as often any more
The Seller pays for Deed stamps $4.56/ $1000.00
The costs outlined above are only an estimate. Please be sure to check with your attorney, bank or mortgage lender for closing costs associated with your purchase of Real Estate on the Island.
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