Know Your New Jersey Condo Closing Costs

Closing Costs for Condos in Hudson County NJ

Congratulations! Your offer for your Hoboken or Jersey City condo has been accepted. However, the amount that you actually owe will be higher than your accepted bid, due to closing costs.

Before your closing date, you will receive a Good Faith Estimate (GFE) which will detail all the expenses involved in the purchase of your home. These may include any or all of the following: 

• Appraisal
• Attorney’s fees
• Balance of the purchase price (minus the earnest money and deposit)
• Condo association application
• Credit report
• Document fees
• Flood certification
• Homeowner’s insurance
• Inspections
• Interest rate and points
• Notice of settlement
• Origination fees (points) for the loan
• Pre-paid homeowner’s association fees
• Pre-paid interest
• Pre-paid property taxes
• Survey
• Title search and title insurance
• Underwriting
• Wiring fees

You will be expected to pay the balance due on your Good Faith Estimate at closing with a cashier’s check or wire transfer.

Average closing costs for a $200,000Hudson County Condo are approximately $4,000. As the price of the condo increases, the closing costs will increase accordingly.

Wondering whether this is a good time to buy a Hoboken or Jersey City condo? My special report will guide you in choosing the right condo at a price you can afford.