Purchase Price
Tax Adjustments to Seller Owed by Buyer* (Avg. ~1/2 Property Tax Bill)
Other Adjustment to Seller ( Fuel in tank, Common Charges Paid, etc.)
Balance Due to Seller From Buyer
Mortgage Payoff (Principal + Interest Owed)**
Real Estate Broker
Transfer Tax
Mortgage Payoff Pickup Fee(s) (~$100.00-$200.00 Per Mortgage)
Recording Fees ($35.00-$80.00)
Attorney Fee
Total Estimated Closing Expenses
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Balance Due to Seller
NET PROCEEDS TO SELLER
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* Depends on Closing Date. The Buyer will reimburse the Seller for the balance of the property taxes paid by Seller based on the fiscal year of the tax paid (in many areas, the School tax in paid in September but the fiscal year begins in July)
** The Amount owed will include principal (which is generally detailed in your monthly statement) plus interest. Monthly payments include interest for the previous month. Example-Closing is 3/21 and last payment was 3/1. You would owe principal plus 21 days of interest (3/1-3/21)
Buyers-Closing Costs Calculator