New Jersey Buyer Closing Cost Calculator
Since July 10, 2025 a New Jersey buyer pays no transfer tax: the former 1% mansion tax moved to the seller. What remains is bureau-rate title insurance, county recording, attorney and lender costs.
New Jersey’s mansion tax cliffs: where a higher price nets the seller less →
Your purchase
On a $2.00M 70%-financed purchase in Montclair, buyer closing costs run approximately $19,610 (0.98% of price). A New Jersey buyer pays no transfer tax: since July 10, 2025 the seller pays both the realty transfer fee and the graduated percent fee.
Statutory taxes + recording
$310Both are paid by the seller. Since July 10, 2025 the former 1% buyer-paid "mansion tax" is a seller-paid graduated fee, so a New Jersey buyer pays no transfer tax.
Source: N.J.S.A. 46:15-7, 46:15-7.2 (P.L.2025, c.69)
First page $45 + $10 per additional page; estimated at 5 pages.
Source: Essex County Clerk fee schedule
First page $35 + $10 per additional page; estimated at 20 pages. New Jersey has no mortgage recording tax.
Source: Essex County Clerk fee schedule
Title insurance
$7,250Bureau-filed rate: $5.25 per $1,000 to $100K, $4.25 to $500K, $2.75 to $2M, $2.00 above. Buyer-paid by North Jersey custom.
Source: NJ Land Title Insurance Rating Bureau manual (eff. Nov 1, 2023)
Bureau charges: $100 examination, $300 settlement. Searches billed at cost.
Source: NJ Land Title Insurance Rating Bureau manual
Issued alongside the owner's policy; confirm the exact charge with the title agent.
Source: Rating Bureau simultaneous-issue charge (estimate)
Service + lender fees
$12,050Buyer and seller each retain counsel; the 3-business-day attorney review period (N.J.A.C. 11:5-6.2) follows a broker-prepared contract.
Source: Market typical (North Jersey)
Source: Market typical
New Jersey property taxes are paid quarterly and adjusted between buyer and seller at closing.
Source: Varies by closing date
Estimated at 0.5% of loan. Range 0-1.5% on jumbo loans.
Source: Market typical
Source: Market typical
Source: Market typical
Planning a New Jersey purchase?
The figures above are statutory taxes and estimated fees. Send the town and your price range to discuss the transaction and, where it connects to an NYC sale or purchase, how the two sides fit together.
The Roebling Team at Compass executes transactions directly in Manhattan. For New Jersey buyers and sellers, we collaborate with Compass agents in New Jersey via referral — clients work with the best on-the-ground representation while keeping the analytical framework consistent across markets. This calculator is an informational research tool, not solicitation of representation.
For trans-market clients (Manhattan + New Jersey portfolios) or to discuss your specific transaction, schedule a consultation. Where appropriate, we’ll introduce you to a vetted Compass agent in the local market.