Buyer Resources

Buyer’s Checklist for Preparation of Purchase (Download PDF) - The following are general estimated costs associated with the purchase of property.

  • Attorney Fees
    • Own Attorney: $500 - $5,000 (fees will vary by attorney)
    • Bank Attorney: $450+
  • Loan Application Fee: 750+ (Fee typically paid to the mortgage company for credit report and property appraisal)
  • Points to Bank: 0%-3% of loan value
  • Private Mortgage Insurance (PMI): Required when loan is greater than 80%
  • Prepaid Interest
  • Tax Escrows: 2 to 6 months
  • Recording Fees: $300+
  • Underwriting Fee: Charged by lender $200+
  • Processing Fee: Paid to mortgage broker to process the loan and reimburse miscellaneous expenses
  • Mortgage Tax: 1.75% of amount of mortgage on loans under $500,000; or 1.875% of amount of mortgage on loans of $500,000 and over
  • Fee Title Insurance: Approximately $450 per $100,000
  • Mortgage Title Insurance: Approximately $200 per $100,000
  • Municipal Search: $275+
  • Real Estate Tax Adjustment: 1-6 months
  • Mansion Tax: 1% of entire purchase price where price is $1,000,000 or more
  • Engineer Inspection: $500+
  • Homeowner’s Insurance: Cost varies
  • Condominium or Cooperative Charges: Associations may charge an application fee, move-in, etc…
  • Service Fee to Mortgage Broker: 1%-2% of loan
  • Nassau County Star Savings Link:



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The mission of JPJ is to make the buying and selling of residential and commercial real estate an unparalleled opportunity by providing exceptional service and knowledge to clients. We are dedicated to understanding and respecting our clients' needs, which defines our standards of loyalty, honesty and hard work.

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