Single Family Homes and Townhouses.

Condominiums.

Co-op.


For the Seller.

Broker: Typically 6%
Own Attorney: Consult your attorney
NYC Transfer Tax:
Residential:
Up to $500,000 = 1%
$500,000+ = 1.425%
Commercial:
Up to $500,000 = 1.425%
$500,000+ = 2.625%
Admin. Fee:
Residential Deed Transfers= $75
Commercial Deed Transfers = $165
NY State Transfer Tax: $4 per $1,000 of price
NYS Equalization Fee: $75
Miscellaneous Title Fees: $200-$500
Pick-up / Payoff Fee to Title Closer: $100-$300

For the Seller.

Broker: Typically 6%
Own Attorney: Consult your attorney
Processing Fee: $450+
NYC Transfer Tax:
Residential:
Up to $500,000 = 1%
$500,000+ = 1.425%
Commercial:
Up to $500,000 = 1.425%
$500,000+ = 2.625%
Admin. Fee:
Residential Deed Transfers= $75
Commercial Deed Transfers = $165
NY State Transfer Tax: $4 per $1,000 of price
NYS Equalization Fee: $75
Pick-up/Payoff Fee: $250-$500
UCC-3 Filing Fee: $100
Miscellaneous Condominium Charges: Vary by building
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.

For the Seller.

Broker: Typically 6%
Own Attorney: Consult your attorney
Co-op Attorney: $450+
Flip Tax: Typically 1% to 3% of price (if applicable)
Stock Transfer Tax: $0.05 per share
Move-out Deposit/Fee: Varies by building
NYC Transfer Tax:
Residential:
Up to $500,000 = 1%
$500,000+ = 1.425%
Commercial:
Up to $500,000 = 1.425%
$500,000+ = 2.625%
Admin. Fee:
Non-Deed Transfers (i.e., Co-ops) = $50
Residential Deed Transfers= $75
Commercial Deed Transfers = $165
NY State Transfer Tax: $4 per $1,000 of price
NYS Equalization Fee: $75.00
Pick-up / Payoff Fee: $250-$500
UCC-3 Filing Fee: $100
Miscellaneous Coop Charges: Vary by building

For the Purchaser.

MORTGAGE CLOSING COSTS
Buyer’s Attorney: Consult your attorney
Bank Fees: $750
Application Fee: $350
Processing Fee: $330
Appraisal Fee: $300-$1,500 (depending on sales price)
Credit Report Fee: $10.10 single/$15.20 joint
Bank Attorney: $650-$750
Tax Escrows: 2 to 6 months
Recording Fees: $250-$750
Fee Title Insurance: Approx. $450 per $100,000 of sales price under 1M, +15% on $1M or more
Mortgage Title Insurance: Approx. $130 per $100,000 of mortgage amount
Municipal Search: $350-$500
Mortgage Tax – NYC (paid by borrower):
1-3 Family Home or Condo:
If mortgage is less than $500,000: 1.80%. If mortgage is $500,00 or more: 1.925% of loan amount

For the Purchaser.

Buyer’s Attorney: Consult your attorney
Bank Fees: $350-$750
Application Fee: $350
Processing Fee: $330
Appraisal Fee: $300-$1,500 (depending on sales price)
Credit Report Fee: $10.10 single/$15.20 joint
Bank Attorney: $650-$750
Tax Escrows: 2 to 6 months
Recording Fees: $250-$750
Fee Title Insurance: Approx. $450 per $100,000 of sales price under 1M, +15% on $1M or more
Mortgage Title Insurance: Approx. $130 per $100,000 of mortgage amount
Municipal Search: $350-$500
Mansion Tax: 1% of entire purchase where price is $1,000,000 or more.
NYC Mortgage Tax (paid by borrower):
a. Mortgage less than $500,000 = 1.80%
b. Mortgage $500,000+ on 1-3 family residential dwelling = 1.925%
c. Mortgage on all other property over $500,000.00 = 2.80%

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 Purchaser.

MORTGAGE CLOSING COSTS
Buyer’s Attorney: Consult your attorney
Bank Fees: $350-$750
Application Fee: $350
Processing Fee: $330
Appraisal Fee: $300-$1,500 (depending on sales price)
Credit Report Fee: $10.10 single/$15.20 joint
Bank Attorney: $650-$750
Lien Search: $250-$350
UCC-1 Filing: $100
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