Average Closing Costs in New Jersey (2026)
New Jersey Closing Cost Laws & Requirements
New Jersey has one of the highest property tax rates in the nation. The state requires a 3-day attorney review period on all real estate contracts. New Jersey has a Mansion Tax on purchases over $1 million.
Transfer Tax
New Jersey Realty Transfer Fee is paid by the seller on a graduated scale approximately 1% on the first $350,000. Buyers pay a 1% Mansion Tax on purchases over $1 million.
Attorney Requirement
New Jersey strongly favors attorney representation. The standard contract includes a 3-business-day attorney review period. Fees typically run $1,000 to $2,000.
First-Time Buyer Programs in New Jersey
NJHMFA offers the First-Time Homebuyer Mortgage Program with competitive rates.
Closing Costs by City in New Jersey
| City | Typical Range | Avg % of Price |
|---|---|---|
| Newark | $7,900 – $19,750 | 2.5% |
| Jersey City | $11,700 – $29,250 | 2.5% |
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