SAMPLE TITLE CHARGES FOR PURCHASER
New York City Real Property
| Purchase Price: | $425,000.00 |
| Mortgage Amount: | $382,500.00 |
| | |
| Title Insurance | $2,237.00 |
| Mortgage Insurance | $505.00 |
| Searches/Departmentals | $455.00 |
| Endorsement | $100.00 |
| Mortgage Tax * | $6,855.00 |
| Recording Charges | $310.00 |
| New Survey ** | $550.00 |
| RP-5217 Filing Fee | $75.00 |
| | $11,087.00 |
* 1.8% minus $30.00 if mortgage amount is less than $500,000.00 for 1-3 family or
condo 1.925% minus $30.00 if mortgage amount is $500,000.00 or more
** If an old survey is available and acceptable, then only a survey inspection would need
to be done at an approximate cost of $75.00. If the title company must attempt to
locate an old survey, it would costs approximately $75.00
Nassau County Property
| Purchase Price: | $1,585,000.00 |
| Mortgage Amount: | $1,030,250.00 |
| | |
| Title Insurance | $6,649.00 |
| Mortgage Insurance | $1,158.00 |
| Escrow Service Charge | $50.00 |
| New Survey * | $625.00 |
| Municipal Searches | $220.00 |
| Endorsements | $100.00 |
| Mortgage Tax ** | $8,212.00 |
| Mansion Tax *** | $15,850.00 |
| Recording Charges | $530.00 |
| | $33,394.00 |
* If an old survey is available and acceptable, then only a survey inspection would need
to be done at an approximate cost of $75.00. If the title company must attempt to
locate an old survey, it would costs approximately $75.00.
** .8% minus $30.00 for a 1-5 family house or condo
*** If purchase price is over $1,000,000.00, Purchaser pays 1% of the purchase price
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Amounts do not include unpaid real property taxes picked up at closing
Amounts also do not include $150.00 customary gratuity paid to the title closer
Dena Orenstein and Zhanna S. Kandel are partners of the law firm of Orenstein & Kandel, LLP. with offices located on Northern Boulevard in Bayside. The firm specializes in real estate, foreclosure, bankruptcy and eviction matters, as well as business contracts and wills, trusts and estate planning. Tel. (718) 819-0200 www.oandklegal.com.
