Sellers Estimated Closing Costs This worksheet can be used to prepare an estimate of the costs entailed in the closing of a home from the perspective of the seller. LEGAL FEE - Generally $500-650, depending on the attorney and the transaction $________ REAL ESTATE COMMISSION - Depends on the terms of the listing agreement $________ REALTY TRANSFER TAX - Rate Fixed to sale price of house. Consult your attorney for possible exemptions NJ: About $3.50/11,000 CT: $1.10/$l,000 to town, and 1/2 of 1% of sale price to state NY: $4.00/$l,000 $________ MORTGAGE CANCELLATION FEE - Usually required if mortgage is prepaid before original term is reached. May be charged by lender and/or local government. $________ OTHER LIENS - Must be removed from property before sale. Includes local government filing fees. $________ TAX ADJUSTMENT - Usually a credit (sometimes a charge) to seller, to adjust for taxes paid short of-or beyond-the closing date. $________ WATER/SEWER ADJUSTMENTS - Same as other tax adjustments. $________ VA LOANS - Seller is responsible for points, repairs, certifications as included in sale contract; and for fees required by lender. $________ INSECT DAMAGE REPAIRS - As may be required following inspection. $________ ENGINEERING REPAIRS - As may be required following inspection. $________ ESTIMATED TOTAL $________ These figures are just estimates. It is suggested that you consult your attorney for any closer estimates of the costs for your particular situation. A short time before closing, your attorney should be able to provide you with much more precise figures for your closing costs.