Below is a brief outline of the most common closing costs that a buyer may encounter.
This outline is for estimate purposes only and there may be different or additional charges necessary.
1.25% total of mortgage amount (1% paid by borrower, 0.25% paid by lender)
$75 for 1 - 2 family dwelling, $165 if vacant or commercial (document to accompany deed recording)
$299+ (covers mortgage policy only). Rates based on a "Schedule of Rates" sheet provided by the attorney. Rates determined by amount mortgaged.
File Deed: $31 - $41 (depending on length of document)
File Mortgage: $31 - $130 (depending on length of document)
Generally, $450 - $1,000 (will be different with each attorney)
*Chautauqua Institution Transaction
Capital Improvements Service Charge - 2% Tax: 1% paid by seller, 1% paid by buyer.
Refer to Institution by-laws for details
Bank Related Charges (Separate from Attorney Charges)
Bank Closing Costs
Check with the bank mortgaging the property
Other Adjustments at Closing May Include
Sales Tax on Personal Property
Bank Tax Escrow