2% on the portion of the fair market value greater than $200,000 and up to and including $2,000,000, and
3% on the portion of the fair market value greater than $2,000,000.
For example, if the fair market value of a property is $450,000, the tax paid is $7,000.
Home Inspection - A comprehensive visual examination of the home's overall structure, major systems and components and usually costs around $400 or so depending on the scope and size of the property.
Appraisal - An estimate of the value of a home you want to buy or a home you already own. Cost is anywhere from $350 and up. Check with your lender as sometimes they will pay for the appraisal.
Legal Fees - Most buyers will use a lawyer or notary to complete their transaction. Costs will vary depending on your particular deal. Check online for fee schedules to plan ahead. Costs vary from $600 - $1500 and up.
Changing Your Address - Sending out emails or post cards and visiting the post office to ensure you get uninterrupted correspondence .
Renovations -Remember to add up all the things you were going to change or upgrade to make your home "yours".
Moving Costs - From the 'Family and Friends' package to a professional moving company, there will be some cost associated with moving. Don't forget packing materials and possible storage fees.
Utilities Connection and disconnection fees for utilities like gas, electricity, internet etc.
Property Taxes & Home Insurance - Paid monthly or lump sum, two more costs to count.