Summary On Home Page

Condo/Co-op Buildings

   Edgewater - Admiral's Walk
   Edgewater - Crown Village
   Edgewater - City Place
   Edgewater - Hudson Harbour
   Edgewater - Hill Gardens
   Edgewater - Hudson Cove
   Edgewater - Independence Harbor
   Edgewater - One Hudson Park
   Edgewater - Patriot
   Edgewater - Riverview on the Park
   Edgewater - Shelter Bay
   Edgewater - The Promenade
   Edgewater - 1111 & Waterside
   Edgewater - The Colony
   and MORE in Edgewater, NJ 07010
   Fort Lee - Bridgeview Towers
   Fort Lee - Linwood Park
   Fort Lee - The Charlton
   Fort Lee - The Palisades
   Fort Lee - Atrium Palace
   Fort Lee - Biarritz
   Fort Lee - Buckingham Tower
   Fort Lee - Cedar Court
   Fort Lee - Crosley Terrace
   Fort Lee - River Ridge
   Fort Lee - The Charlton
   Fort Lee - The Royal Buckingham
   Fort Lee - Park Hill Terrace
   Fort Lee - Washington West
   Fort Lee - Westgate
   Fort Lee - Easthill
    and MORE in Fort Lee, NJ 07024
   Cliffside Park - Greenhouse
   Cliffside Park - 200 Winston Towers
   Cliffside Park - 300 Winston Towers
   Cliffside Park - Carlyle Towers
   Cliffside Park - The Chateau
   Cliffside Park - Cliff Heights
 and MORE in Cliffside Park, NJ 07010

Hudson County:

North Bergen - Mirabelle 2BR $395's  
West New York - Grandview I

Condo Listings:

House Listings:

Co-op Listings:

Lease | Rental Listings:

Buyer and Seller to Know:

 


Closing Cost for BUYER

  This is just an illustration from "HUD-1 Uniform Settlement Statement", please consult with your  
  attorney for any question regarding HUD-1 and closing cost. Your attorney will explain to you item to
  item, the fees, and if any balance due or credit to you at closing.
 

  Items Payable in connection with Loan:
     Bank Appraisal Fee
     Bank Credit Report
     Bank Application Fee
     Bank Courier Fee
     Bank Flood Certification fee
     .....
  Items Required by lender to be paid in advance:
     Interest from closing day to end of the month
     Mortgage Insurance Premium
     Hazard Insurance Premium
     .....
  Title Charges:
     Abstract of title search
     Title examination
     Title Insurance binder
     Your attorney's fee
     Bank Attorney's fees
     Board attorney Recognition review fee 
     .....
  Government recording and transfer charges:
     Recording fees
     UCC recording to State 
     UCC recording to County
     .....
  Additional Settlement Charges:
      Board Association fees
      Prepared next month maintenance fee to bank
      FedEx fee reimbursement
      Board attorney's fee
      .....
       
Attorney's Fee

Depending on each attorney

Title Search

The search consists of an examination of three kinds of records:

  • Records of municipal tax and assessment offices;

  • Records found in the County Clerk's office in the county where the property is located;

  • Upper court judgment records in Trenton

The title search has five main objectives:

  • Verify ownership

  • Non-money encumbrances, such as deed restrictions, easements and party walls;

  • Money encumbrances, such as mortgages, unpaid taxes, mechanics liens, or judgments;

  • Survey Defects

  • Municipal zoning ordinances

 

Title Insurance

 

 

Upon completion of the title search the title insurance company reviews the findings and renders an opinion as to who the fee owner is and lists all persons with a legitimate right or interest in the property such as a mortgagee or easement holder. The title company then issues a title report or a commitment to issue a title policy.

  • Owner's Policy: The owner's policy affords coverage equal to the sale price, and the policy remains in force as long as the owner (or owner's heirs) have an interest in the property. The owner's policy is not assignable. The fee paid for an owner's policy is a one-time fee, paid when the policy is issued.
     

  • Mortgagee's Policy: The mortgagee's policy provides exclusive protection for lenders who take real estate as security for a loan. Unlike the owner's policy, coverage continues with the life of the mortgage, even if the mortgage is assigned to another lender.
    The fee paid for an owner's policy is a one-time fee, paid when the policy is issued.

Varies  BASIC UNDERWRITING RATE SCHEDULE
The basic underwriting rate for either owner's insurance, leasehold insurance, or mortgage insurance, shall be calculated according to the following rate schedule:

Policy Liability

Rate per $1,000 or
Fraction Thereof

$0-$100,000

$5.25

$100,001-$500,000

add $4.00

$500,001-$2 million

add $2.75

Over $2 million

add $2.25

Calculate your Title Fees
 

Recording Fees 

Recording is the process of writing or entering certain documents (such as deeds, mortgages, assignments or releases of mortgages) into public records, thereby giving notice of their existence.

  • It protects innocent and unknowing purchasers against unrecorded instruments;

  • It assumes that all those who deal with real property do so with full knowledge of all recorded instruments.

Survey

The process by which a parcel of land is measured and its area ascertained.

Homeowners Insurance 

 

 

Homeowners with mortgages are required by their lenders to have home insurance. Many people may think that the policy terms required by their lenders represent "OK" levels of insurance, but this may not be true. Lenders want to make sure their exposure is covered, but that can happen without you being fully protected. Thus, it's important that you calculate your needs as well and make sure they are reflected in your coverage.

HO-1. Basic homeowner stuff. Covers your dwelling and personal property against losses from 11 types of perils: fire or lightning; windstorm or hail; explosion; riot or civil commotion; aircraft; vehicles; smoke; vandalism or malicious mischief; theft; damage by glass or safety glazing material that is part of a building; and, volcanic eruption.

HO-2. Basic homeowner stuff plus some. Covers dwelling and personal property against 11 perils plus six more: falling objects; weight of ice, snow or sleet; three categories of water-related damage from home utilities or appliances; and electrical surge damage.

HO-3. Extended or special homeowner stuff. Covers 17 stated perils plus any other peril not specified in your policy, except for flood, earthquake, war, and nuclear accident.

HO-6. Condominium owner coverage. Covers personal property from 17 listed perils along with certain building items in which the unit owner might have an insurance interest.

 

  Private Mortgage Insurance

Usually required if mortgage is more than 80% of purchase price. 

  Lender's Attorney Review Fee

 

  Prepaid Interest

 

  Escrow Fees

 

  Points

 

  Application Fee 

 

  Credit Report Fee 

 

  Terminate/ Building Inspection

 

  Fuel Adjustment

 

  Association Fees

 

  (if applicable) Flood Insurance

 

 Mansion Tax if over 1M  
*** Information deemed reliable but not guaranteed ***
*** The information contained herein is for illustrative purposes only ***

re/max fortune properties,474 sylvan ave, englewood cliffs, nj 07632


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