What Do I Need To Know About Closing Costs?

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What Do I Need To Know About Closing Costs?

When it comes time to buy a house, you will need to determine whether you have sufficient funds to purchase your home. Your lender is going to help you with that in terms of giving you a good faith estimate of what the expenses are. You will get a closing disclosure that lets you know specifically what your costs will be. Some of the most common costs will be your lender fees, your escrows for taxes and insurance, your survey, your title search, your attorney fee, and any adjustments that need to be made on the utilities for the property.

In New Jersey, the closing costs and legal fees vary depending on the situation and the home that you are going to buy. Generally, the house survey costs anywhere from $450-$800. In addition, you will also have to account for the deed to the house, which ranges from $200-$300 as well as the title policy, which can be anywhere from $250-$500. The costs associated with obtaining a mortgage for the house that you are buying include an application fee and credit report, an appraisal fee and other miscellaneous costs that may arise.

Finally, the last group of fees that you will need to take into consideration when purchasing a home are the inspection costs. Depending on the condition of the home that you are buying, you will need the general home inspection, radon inspection, termite/wood damage inspection and inspections for factors such as a septic or oil tank, asbestos, and mold.

Juan C. Velasco, Esq. is a trusted attorney who has been serving the New Jersey area for over 25 years. If you are in need of experienced legal counsel, please contact Velasco Law Office and we will be happy to assist you. 

 

About the Firm

Juan Velasco, Esq. has over 25 years of experience passionately practicing law. Juan Velasco provides legal counsel to individuals, corporations, and institutions concerning substantial legal and financial matters.

Velasco represents clients in formal and legal proceedings, including negotiations to ensure amicable settlements that benefit their needs. He has over 2 decades advising clients concerning legal options available in complicated transactions. Mr. Velasco has drafted countless contracts and supporting documents for his New Jersey clients. He responds to inquiries, assisting clients in determining the most favorable position. He also provides legal guidance concerning appropriate business actions.

 

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  VELASCO LAW OFFICE

1870 Route 27 – Suite 202
Edison, New Jersey 08817

Our offices are conveniently location on Route 27 in Edison, New Jersey, Attorney Velasco is ready to actively protect your interests. If you are in need of a passionate and effective lawyer, contact Velasco Law Office.




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