Westchester County Closing Costs

A General Guide When Purchasing or Selling a Property in Westchester

This closing cost guide is designed to give you the general costs associated with the purchase or sale of a cooperative, condominium or townhouse property. Please note that these are estimates and that potential buyers and sellers should consult their real estate attorney or financial advisor for specifics. Please take note we do not represent that these are the entirety of potential costs, but are only to be used as a guide.

It’s good to anticipate the costs related to a real estate closing well in advance to the actual meeting. Please keep in mind that that this list includes many typical closing costs, but not necessarily those that may apply to your closing. When your mortgage is approved, ask the lender and your attorney for full disclosure of all closing costs. On the day you close on your new home, you have the right to inspect the property and to review any improvements or corrections that were agreed to by the seller.

Bank/Broker FeesRangeAverage
Appraisal (based on loan size and property type)$400-$750$450
Bank Attorney$850-$1100$950
Tax Service$75$75
Flood Certification$25$25
Credit Report$35$35
Title FeesRangeAverage
Owner’s Title Insurance: See Chart Below
Lender’s Title Insurance: See Chart Below
 Municipal Searches$300-$375$350
 Patriot Searches$25-$75$50
 Survey(a. or b.)
  a. New$700-1200
  b. Inspection (if existing survey)$100-150$125
 Overnight Courier$50$50
 NY - RPT Filing$125$125
Escrow Service$50-$75$50
Taxes and Recording FeesRangeAverage
Deed Recording$150-$200$175
Mortgage Recording$200-$250$225
Service Fees$125$125
Mortgage Tax: 1.04% of the mortgage amount (1.54% in Yonkers)
Mansion Tax: 1% ONLY for purchase prices over $1M
Pre-Paid Items and EscrowsRangeAverage
Pre-paid Interest (from closing date to end of month) 1-30 days
Real Estate Taxes: 9 months (combination of escrow and reimbursement to the seller)
Pre-paid Insurance (1 year paid up at closing)$750-$2400$1200
Insurance Escrow: 1 month$100
PMI Escrow (if applicable): 1 month
*Costs are based on home sales price less than $
Owners PolicyBased on Purchase Price
Owners PolicyBased on Purchase Price
Seller Closing Costs in Westchester , NYBuyer Closing Costs in Westchester, NY
  • Attorney Fees: ~$1,550.00 or more
  • Real Estate Broker Commission:  5-6% of the selling price
  • The outstanding mortgage payoff
  • County clerk fee
  • New York State Transfer Tax: $4.00 per $1,000 of the sale price (.4% of sale price)
  • Mansion Tax: 1% of entire price if in excess of $1,000,000
  • Private Mortgage Insurance: if the down payment is less than 20%
  • Fire Insurance
  • Hazard Insurance
  • Property Tax Escrow: this is paid to the lender at the closing for pre-paid real estate taxes, flood or hazard insurance premiums for 2-3 months. If this is being paid to a private vendor the proof must be supplied at the closing
  • Mortgage Fees: these include any document preparation fee associated with the mortgage
  • Application Fee  |  Points  |  Appraisal Fee  |  Pro-Rated Interest
  • Heating Oil/Fuel: amount remaining as of the closing date (usually current market price per gallon)
  • Flood certification Fee – paid to the lender to verify your purchase, relative to flood zone
  • Title Insurance (variable based on property’s value, standardized by law) – to protect the buyer and lender from any future, unexpected claims on the property
  • Attorney Fee (Varies with Attorneys)
  • Title Search Fee – to review the title for liens, problems, etc.
  • Title Closer Gratuity (suggested $100.00)
  • County Clerk Recording Fee – $30.00 – $100.00 – required by local and state government to record the transaction

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