Sales rentalsOpen HousesSellingCommercialRelocationsAgentsCompany InformationResources
 
 
Resources
 
Estimated Buyer Closing Costs
 
Attorney varies   Co-op Buyers only
Recognition Fee—$200 (co-ops only)
UCC-1 Filing Fee- $20 (co-ops only)
Bank Fees 0% to 3% of loan value
Application Fee $500 (Underwriting, Credit Report, Appraisal Fee, etc)
Bank Attorney $450-750 Condo Buyers only
Tax Escrow– 2-6 months (condos only)
Managing Agent Fee $250-450 (condos only)
Recording Fee- $150+ (condos)
Mortgage Tax - 1.75% of mortgage on loans under 500K or 1.875% of mortgage on loans over 500K (condos/townhouse only)
Fee Title Insurance (condos only)
Mortgage Title Insurance (condos only)
Municipal/Lien Search- $275
Short Term Interest 1 month
Move-in deposit $500 (usually refundable-varies by building)
Common Charge Maintenance and Real Estate Tax Adjustments
Mansion Tax  1% of sales price (where price exceeds $1 Million)
Estimated Seller Closing Costs
 
Broker 6% of sales price   Co-op Sellers Only:
Flip Tax:  based on the number of shares or sales price
Stock Transfer Tax: $.05/ share
Transfer Tax Forms preparation and filing costs: $100
UCC-3 Filing Fee: $30
Own Attorney Varies
Co-op Attorney $450+
Satisfaction mortgage (if any) Condo Sellers Only:
Title Fees: $200
Payoff Fee to Title Closer: $300
Managing Agent Fee: $450
For condominiums in new developments, the Purchaser will pay costs normally paid by the seller including attorney fees and NY transfer taxes.
Move-out Deposit One time fee of $500
NY State Transfer Tax $2 per $500 of price, or 0.4% of purchase price
NYC Transfer Tax 1% of  price up to $500K or 1.425 of price if $500K and over. Plus $25 administrative fee
   
 
 
© 2005 Weichert, Realtors ® - Mazzeo Agency, All rights reserved.
Independently owned and operated