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)

Survey
$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
$5

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