Estimate your total costs as a seller in New Jersey — including Realty Transfer Fee, broker commissions, attorney fees, and your estimated net proceeds.
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Estimates for general guidance only. Actual costs vary. Contact Agarunov Law for a personalized estimate.
Common questions about NJ seller closing costs
NJ seller closing costs typically range from 7% to 10% of the sale price. The largest costs are broker commissions (4-6%) and the Realty Transfer Fee. Attorney fees, recording fees, and mortgage payoff are also factored in when calculating net proceeds.
The Realty Transfer Fee (RTF) is a state tax paid by the seller on the sale of real property in New Jersey. Rates range from 1% to 1.8% depending on the sale price. On a $600,000 sale, the RTF is approximately $9,780.
No. Unlike NYC, New Jersey does not impose a mansion tax on sellers. However, buyers of NJ properties over $1 million do pay a 1% mansion tax. This is an important distinction when comparing NJ and NYC closing costs.
While not technically required by law, it is standard practice in New Jersey for sellers to be represented by an attorney. The NJ attorney review period allows your attorney to review, modify, or disapprove the contract within 3 business days of signing.