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Estimated Closing Costs for Sellers

Below is a brief outline of the most common closing costs that a seller may encounter.
This outline is for estimate purposes only and there may be different or additional charges necessary.

Transfer Tax
$2 per $500 of the sale price

File TP-584
$5 (document to accompany deed recording)

$400 - $600+ depending on the property

Water / Septic Testing
$250 (for private water and/or sewer)

Abstract / Title Search
$175 - $700 (depending if just continuation of existing abstract or preparing a new one)

Attorney Fees
Generally $450 - $1,000 (will be different with each attorney)

Realtor Commission
Confirmed on your listing agreement

*Chautauqua Institution Transaction
Capital Improvements Service Charge - 2% Tax: 1% paid by seller and 1% paid by buyer
Refer to Institution by-laws for details

Bank Related Charges (Separate from Attorney Fees or Charges)
Discharge of Mortgage
$31.50 (if 2 pages: $34.50)

Mortgage Payoff
The amount of your payoff balance

Recording of Affidavits
$31 - $40 (if necessary)

Capital Gains Affidavit

Other Adjustments at Closing May Include
Septic System Escrow
Water System Escrow
Sales Tax on Personal Property
Bank Tax Escrow
Tax Adjustments
Nonresident Real Property Estimated Income Tax - Form IT-2663