| For the Seller
|
For the Purchaser
|
| Broker: Typically 6%
|
Buyer’s Attorney: Consult your attorney
|
| Own Attorney: Consult your attorney
|
Bank Fees: $750
|
| Processing Fee: $450+
|
Application Fee: $500
|
NYC Transfer Tax:
1% of price up to $500,000; or,
1.425% of price if $500,000 and over.
|
Appraisal Fee: $300-$1,500 (depending on sales price)
|
| NY State Transfer Tax: $4 per $1,000 of price
|
Credit Report Fee: $9.80 single/$14.60 joint
|
| Miscellaneous Title Fees: $200-$500
|
Bank Attorney: $750-$850
|
| Payoff Fee to Title Closer: $100-$300
|
Tax Escrows: 2 to 6 months
|
| Miscellaneous Condominium Charges: Vary by building
|
Recording Fees: $250-$750
|
| Note: For condominiums in new developments, the Purchaser will pay costs normally paid by the Seller. These include Seller attorney fees as well as NY and NYC Transfer Taxes.
|
Mortgage Tax: 1.80% of amount of mortgage on loans under $500,000; or 1.925% of amount of mortgage on loans of $500,000 and over
|
|
|
Fee Title Insurance: Approx. $450 per $100,000 of sales price under 1m - +15% on 1M or more
|
|
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Mortgage Title Insurance: Approx. $130 per $100,000 of mortgage amount
|
|
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Municipal Search: $350-$500
|
|
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Mansion Tax: 1% of entire purchase where price is $1,000,000 or more.
|
|
|
ADDITIONAL REAL ESTATE EXPENSES
Common Charge Adjustment: Pro-rated for the month of closing
|
|
|
Real Estate Tax Adjustment: Pro-rated depending on when the tax is collected
|
|
|
Miscellaneous Condominium Charges: Vary by building
Short Term Interest: Equal to interest for balance of month in which you close
|
| For the Seller
|
For the Purchaser
|
| Broker: Typically 6% |
MORTGAGE CLOSING COSTS
|
| Own Attorney: Consult your attorney |
Buyer’s Attorney: Attorney: Consult your attorney
|
| Co-op Attorney: $450+ |
Bank Fees: $350-$750
|
| Flip Tax: Typically 1% to 3% of price (if applicable) |
Application Fee: $350
|
| Stock Transfer Tax: $0.05 per share |
Processing Fee: $280
|
| Move-out Deposit: Varies by building |
Appraisal Fee: $300-$1,500 (depending on sales price)
|
| Flip Tax: Typically 1% to 3% of price (if applicable) |
Application Fee: $350
|
| NYC Transfer Tax: 1% of price up to $500,000; or 1.425% of price if $500,000 and over. |
Credit Report Fee: $9.80 single/$14.60 joint
|
| NY State Transfer Tax: $4 per $1,000 of price |
Bank Attorney: $750-$850
|
| Pick-up / Payoff Fee: $250-$500 |
Lien Search: $250-$350
|
| UCC-3 Filing Fee: $100 |
UCC-1 Filing: $100
|
| Miscellaneous Coop Charges: Vary by building |
Mansion Tax: 1% of entire purchase price where price is $1,000,000 or more.
|
|
ADDITIONAL REAL ESTATE EXPENSES
Miscellaneous Co-op Charges: Vary by building
|
|
Recognition Agreement Fee: $200+
|
|
Maintenance Adjustment: Pro-rated for the month of closing
|
|
Short Term Interest: Equal to interest for balance of month in which you close
|
Equal Housing Opportunity