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Keller Williams City Life Realty

Know Your New Jersey Condo Closing Costs

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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.

About Walter Burns

Walter Burns is a licensed New Jersey Realtor since 2002 and he specializes in luxury living in the hottest New York Metro area communities including the prestigious New Jersey Hudson River waterfront areas of Hoboken, Jersey City, Bayonne, Union City, Weehawken, West New York, Guttenberg, North Bergen, Cliffside Park, Edgewater, and Fort Lee. Walter's mission, desire, and goal is to assist all parties in accomplishing their real estate goals, as well as to empower his clients through exceptional service, creating extraordinary results. Having been mentored by several of the top 100 Realtors and Developers in the United States and Canada, he graduated from Rowan University and currently resides in Hoboken. Walter is part of Keller Williams City Life Realty. NJAR Circle of Excellence Sales Award, 2009-2018. Google

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