Buyer Closing Costs in Pelham, NY

Buying in Pelham is exciting, but the line items on your closing statement can feel like a foreign language. You want a clear number for what you’ll need to bring to the table, without any last‑minute surprises. In this guide, you’ll learn what buyer closing costs typically include in Pelham, realistic ranges to budget, and how costs differ for co-ops, condos, and single-family homes. You’ll also get a simple worksheet to help you plan. Let’s dive in.

What closing costs include

Closing costs are the one-time expenses you pay to finalize your purchase. In Pelham and throughout Westchester, they generally fall into these buckets:

• Taxes and state-level levies tied to price
• Lender fees if you are financing
• Title and settlement charges
• Attorney fees
• Government and recording fees
• Inspections, surveys, and building-related fees
• Prepaid items and escrow deposits

Most buyers in Westchester see total closing costs around 2% to 5% of the purchase price. Your final number depends on your loan terms, property type, and what you negotiate in the contract.

Westchester and Pelham taxes to know

• New York State Real Estate Transfer Tax. The state charges 0.4% of the sale price in most transfers. This tax is part of nearly every deal unless an exemption applies.
• New York State mansion tax. If your purchase price is $1,000,000 or more, a 1% mansion tax usually applies and is commonly paid by the buyer at closing.
• County and local recording or mortgage taxes. Westchester County applies recording and mortgage-related charges. Exact rates and who pays can vary, so confirm with your attorney and the county clerk.

These items are price-based or statutory, so they are among the larger drivers of your cash to close.

Lender fees when you finance

If you are getting a mortgage, expect several lender-related charges:

• Origination, processing, and underwriting. Many lenders charge a flat fee or a percentage, often 0.5% to 1.5% of the loan amount.
• Discount points. Optional paid points to buy down your rate, commonly 0.25% to 1% per point.
• Appraisal. Often $400 to $900 in Westchester, higher for large or unique homes.
• Credit report, flood certification, and tax service. Usually $25 to $600 combined.
• Mortgage recording tax or recording fee. New York standard. Exact Westchester amounts depend on loan size and local schedules.

Ask for a Loan Estimate early so you can compare lenders and see a realistic breakdown of these costs.

Title, settlement, and attorney fees

Title and legal services protect your ownership and help the closing run smoothly:

• Title search and settlement. Often $300 to $1,000 depending on complexity.
• Lender’s title insurance. Required when you have a mortgage. The premium is tied to your loan amount.
• Owner’s title insurance. Optional but widely recommended. In New York, local custom sometimes has the seller pay the owner’s policy, but practices vary. Confirm what your contract says.
• Buyer’s attorney. Most Westchester buyers hire an attorney, commonly $1,000 to $3,000 for a straightforward closing.

Clarify early who will pay the owner’s title policy. That decision alone can shift your total by a meaningful amount.

Government and recording fees

Expect charges for recording the deed and handling documents. County clerk and recording fees are typically several hundred dollars, depending on page counts and schedules. There can also be small clerk or certification fees ranging from $25 to $200.

Inspections, surveys, and property items

Your due diligence and property essentials may include:

• Home inspection. Typically $300 to $700 for a single-family home.
• Pest inspection. Often $75 to $250 depending on scope.
• Survey. Sometimes required by the lender, commonly $300 to $1,000.
• Condo or co-op documents. Questionnaires, estoppels, or management processing fees often $150 to $500.

Budget for any lender-required repairs or escrow holdbacks if issues surface during inspections.

Prepaids and escrow deposits

At closing, you usually prepay certain items so your lender can manage them after you move in:

• Property tax escrows. Expect to fund several months based on the tax calendar and your closing date.
• Homeowner’s insurance escrow. Typically one year of coverage plus a cushion, depending on lender requirements.
• Prepaid mortgage interest. Covers daily interest from closing through the end of the month.
• HOA, condo, or co-op prorations. You may pay the first month of dues or maintenance and reimburse the seller for any prepaid amounts.

These items can vary more than fixed fees because they depend on your closing date and local billing cycles.

Co-op vs. condo vs. single-family

Different property types carry different closing cost profiles in Pelham:

Co-ops

• No deed is recorded. You purchase shares and a proprietary lease.
• Expect board application and interview fees, often $250 to $2,000.
• Attorney review is more extensive, which can increase legal fees.
• Title insurance works differently. Many co-op buyers do not purchase a standard owner’s policy. If you finance, your lender may require a share-loan policy.
• Buildings may charge move-in fees, security deposits, or transfer fees. Flip taxes are common and often paid by the seller, but building rules vary.

Condos

• Deeded property with standard title insurance and deed recording.
• Management may charge questionnaire or transfer fees, often $150 to $500.
• Lenders will review the association’s insurance and reserves.

Single-family homes

• Traditional deeded transfers with standard title policies and county recording.
• Survey and full home inspection are common, and sometimes additional specialized inspections are ordered for unique features.

How much to budget in Pelham

A helpful rule of thumb is to plan for 2% to 5% of the purchase price for buyer closing costs. Where you land in that range depends on:

• Loan size and whether you pay points
• Whether you pay the owner’s title policy
• Property type and any co-op or condo fees
• Escrows for taxes and insurance
• The mansion tax if you buy at or above $1,000,000

For a typical financed single-family purchase in Pelham, many buyers see total costs around 2.5% to 4% once lender fees, title, recording, and escrows are included.

A simple worksheet to plan

Use this checklist to build your estimate. Replace ranges with quotes from your lender, attorney, and title company.

• Purchase price: $_____
• Earnest money deposit (credited at closing): $_____
• New York State transfer tax 0.4%: $_____ (price × 0.004)
• Mansion tax 1% if price ≥ $1,000,000: $_____
• County transfer or mortgage recording charges: $_____ (confirm Westchester)
• Lender origination and points: $_____ (estimate 0.5% to 1.5% of loan)
• Appraisal: $_____ (estimate $400 to $900)
• Credit report, flood cert, processing: $_____
• Mortgage recording fees: $_____
• Title search and settlement: $_____ (estimate $300 to $1,000)
• Lender’s title insurance: $_____
• Owner’s title insurance if buyer pays: $_____
• Buyer’s attorney: $_____ (estimate $1,000 to $3,000)
• Home inspection: $_____ (estimate $300 to $700)
• Pest inspection: $_____
• Survey if needed: $_____
• Condo or co-op fees: $_____ (application, questionnaire, move-in)
• First month HOA, condo, or co-op dues: $_____
• Prepaid taxes and insurance escrow: $_____
• Recording and clerk fees: $_____
• Miscellaneous prorations and courier: $_____
• Total estimated buyer cash to close: $_____

Illustrative scenarios:

• Low end. Smaller condo or modest home with 20% down and minimal lender fees where the seller covers the owner’s title policy. Buyer closing costs can be near 2%.
• Mid range. Financed single-family at 80% loan-to-value in Pelham. Buyer closing costs commonly 2.5% to 4% including escrows and mortgage recording amounts.
• High end or complex. Co-op with added fees, larger mortgage, hefty escrows, or a price at or above $1,000,000. Buyer closing costs can exceed 4% to 5% before credits.

Ways to keep costs predictable

• Request your Loan Estimate early. It will show lender fees, third-party costs, and cash to close based on your rate choice and down payment.
• Ask who pays the owner’s title policy. In Westchester this is guided by local custom and the contract. Clarify during offer negotiations.
• Get written quotes. Your attorney and title company can provide itemized estimates for premiums, searches, and recording.
• Separate co-op costs. Budget for board application fees, potential building deposits, and additional legal review time.
• Add a 10% buffer. First-time buyers can build a small reserve for prepaids, prorations, or last-minute adjustments.

Timeline for real numbers

• Offer accepted. Start lender application and request a Loan Estimate.
• Attorney review. Your attorney confirms contract terms and can estimate title and legal costs.
• Appraisal ordered. You’ll pay the appraisal fee early in the process.
• Three days before closing. You receive the Closing Disclosure, which lists final lender and many third-party costs. This is your chance to review and ask questions.

Local tips for Pelham buyers

• Verify county specifics. Westchester County recording and mortgage-related charges can change. Your attorney or the county clerk can confirm current schedules.
• Review the tax calendar. The timing of Pelham-area property tax bills affects escrow totals at closing.
• Check building requirements. For condos and co-ops, ask management for exact questionnaire, transfer, and move-in fees before you sign.

Partner with a local advocate

Closing costs are more predictable when you have a plan and a team that closes in Pelham week in and week out. If you want a clear estimate tailored to your price point and property type, reach out. I can coordinate quotes from trusted Westchester attorneys, title companies, and lenders so you know your numbers before you commit.

Ready to talk through your budget and next steps in Pelham? Connect with Jenny Jaffe to Schedule a Local Market Consultation.

FAQs

What are typical buyer closing costs in Pelham, NY?

• Many Pelham buyers see total costs around 2% to 5% of the purchase price, depending on financing, property type, and who pays the owner’s title policy.

How does the New York mansion tax affect Pelham purchases?

• A 1% mansion tax usually applies on residential purchases at $1,000,000 or more and is commonly paid by the buyer at closing.

Which buyer costs are most negotiable in Westchester?

• The owner’s title insurance policy and certain recording fee allocations can be negotiable and are set by the contract and local custom.

How do co-op closing costs differ from condos and houses?

• Co-ops often include board application fees, potential building deposits, and different title coverage, while condos and single-family homes use deed recording and standard title insurance.

What prepaid items should I expect at closing?

• Expect several months of property tax and homeowner’s insurance escrows, prepaid mortgage interest for the closing month, and first month’s HOA, condo, or co-op dues if applicable.