- Own Attorney: $1700 +
- Processing Fee: $450 +
- Move-out fees: $500-$1,000
- NYC Transfer Tax:
- If price <$500,000: 1% - If price $500,000+: 1.425% - Residential Deed Transfers: $75
- NY State Transfer Tax: $4 per $1,000 of price.
- NYS Equalization Fee: $75
- Miscellaneous Title Fee: $200-$500
- Pick-up/Payoff Fee to Title Closer: $100-$300
- Miscellaneous Condominium charges: Vary by Building
- Gains Tax Withholding (out of state Seller): 7.7% of price
- Broker: Typically 6%
| - Buyer’s Attorney: $1700+
- Application Fee: $350
- Processing Fee: $330
- Credit Report Fee: $50-$100/applicant
- Lead Paint Based Disclosure Fee: $0-$50
- Move-in Deposit: $500-$1,000 (usually refundable if no damage)
- Mansion Tax (if prices over $1 million): 1% of purchase price
- Real Estate Tax Escrow: 2 to 6 months
- Recording Fees: $250-$750
- Municipal Search: $350-$500
- Fee Title Insurance: approximately 0.5% of purchase price
MORTGAGE ASSOCIATED FEES (if applicable) - Origination, Points: 0-3% of loan
- Application, Credit Check: $500+
- Appraisal Fee: $300-$1,500 (depending on sales price)
- Bank Fee: $750
- Bank Attorney: $650
- Mortgage Tax: 0.8%
- Mortgage Title Insurance: Approx. $130 per $100,000
- Of Mortgage amount NYC Mortgage Tax:
-If mortgage <$500,000: 1.80% -If Mortgage >$500,000+ on 1-3 family residential dwelling: 1.925% -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
NEW DEVELOPMENT DIRECT PURCHASES FROM SPONSOR For new development condominiums, the purchaser generally pays the NY and NYC Transfer Taxes normally paid by the Seller. |