Closing Costs
Townhouse and Condominium Closing Costs Seller Seller's Attorney: $2,000 +/- Managing Agent Fee: $450 +/- Move-Out Deposit Fee: $1,000 and up New York City Transfer Tax: Residential Type 1- A conveyance of, or the transfer of, an economic interest in: A one-to-three-family house; * An individual residential condominium unit; or * An individual cooperative apartment Residential Type 2-A grant, assignment, or surrender of, or the transfer of an economic interest in a leasehold interest in * A one-to-three family house; * An individual dwelling unit in a home of more than three families living independently of each other. For both Residential Type 1 and 2: * If the gross sale is $500,000 or less, the rate is 1% of the gross sales price. * If the gross sale is more than $500,000 the rate is 1.425%. For all other transfers: * If the gross sale is $500,000 or less, the rate is 1.425% of the gross sales price. * If the gross sale is more than $500,000 the rate is 2.625%. New York State Transfer Tax: 0.4% (.004) of sales price Miscellaneous Title Company Fees: $200 Payoff Bank Attorney: $450 and up Move-in Deposit or Fee: $1,000 (condos only)		Coop Closing Costs Seller Seller's Attorney: $2,000 +/- Managing Agent Fee: $600 +/- Stock Transfer Tax: $0.5 Per Share New York City Transfer Tax: Residential Type 1- A conveyance of, or the transfer of, an economic interest in: * A one-to-three-family house; * An individual residential condominium unit; or * An individual cooperative apartment Residential Type 2-A grant, assignment, or surrender of, or the transfer of an economic interest in a leasehold interest in * A one-to-three family house; * An individual dwelling unit in a home of more than three families living independently of each other. For both Residential Type 1 and 2: * If the gross sale is $500,000 or less, the rate is 1% of the gross sales price. * If the gross sale is more than $500,000 the rate is 1.425%. For all other transfers: * If the gross sale is $500,000 or less, the rate is 1.425% of the gross sales price. * If the gross sale is more than $500,000 the rate is 2.625%. New York State Transfer Tax: 0.4% (.004) of sales price Payoff Bank Attorney: $450 UCC-3 Filling Fee:$450 and up Move-in Deposit or Fee: $1,000
Buyer Purchaser's Attorney: $1,900 and up Bank Fee: • Points 0-2.5% • Application, credit, appraisal, bank attorney, and mic: $1600 • Short-term interest one month max • Tax Escrows 2-8 months Recording Fees: $200 Morgage Recording Tax: 1.8% of amount of mortgage on loans up to $500,000; 1.925% of amount of mortgage on loans over $500,000 Owner's Title Insurance: $774 per $100,000 of purchase price Mortgage Title Insurance: $196 per $100,000 of mortgage amount on purchase only Searches (Bankruptcy, Title, Municipal, Violation): $750 Move-In Deposit*$1000 and up Managing Agent Fee:$450 and up Other: Common charges (for condos) Real estate taxes 1 - 3 months Mansion Tax 1% of price when price exceeds $1,000,000		Buyer Purchaser's Attorney: $1,800 and up Bank Fee: • Points 0-2.5% • Application, credit, appraisal, bank attorney, and mic: $1,600 • Short-term interest one month max Managing Agent or Coop Attorney (recognition Agreement Fee):$600 Lien Search: $300 UCC-1 Filing Fee: $70 and up Mansion Tax: 1% of price when price exceeds $1,000,000