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Closing Fees
This guide will give you general closing fees associated with the purchase or sale of a cooperative or
condominium. Please note that these are estimates and potential buyers and sellers should consult their
own real state attorney or financial advisor for specifics.
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For the Seller
Broker: Usually 6% depending on the size and Marketing.
Attorney: Consult your own attorney
Processing Fee: $450+
Move-out Deposit: One time fee of $500.00+
Bank Attorney: $450+
NYC Transfer Tax: 1% of price up to $500,000; or $1.425% of price if $500,000 and over. Plus $25 administrative fee
NY State Transfer Tax: $2.00 per $500.00 of price, or 0.4% of purchase price
Miscellaneous Title Fees: $200
Payoff Fee to Title Closer: $300+
For the Buyer
Attorney: Consult your own attorney
Bank Fees: Points: 0% to3% of loan value
Application Fee: (Credit Report, Appraisal) $500+
Bank Attorney: $450+
Short Term Interest: One month
Tax Escrows: 2 to 6 months
Recording Fees: $300
Mortgage Tax: 1.75% of amount of mortgage on loans under $500,000; or, 1.875% of amount of mortgage on loans of $500,000 and over
Fee Title Insurance: Approx. $450 per $100,000
Mortgage Title Insurance: Approx. $200 per $100,000
Municipal Search: $275+
Managing Agent Fee:$250+
Common Charge Adjustment: Pro-rated for the month of closing
Real State Tax Adjustment: 1 to 6 months
Mansion Tax: 1% of entire purchase price Where price is $1,000,000 or more.
Move-in Deposit:One time fee of $500/+
Note: For condominiums in new developments, the Purchaser will pay cost normally paid by the Seller. These include Seller attorney fees as well as NY and NYC /Transfer Taxes.
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For the Seller
Broker: Usually 6% depending upon size and marketing
Attorney: Consult your own attorney
Co-op Attorney: $450.00+<
Flip Tax: 1% to 3% of Price (if applicable)
Stock Transfer Tax: $ 0.05 per share
Move-out Deposit: One time fee of $500.00+
NYC Transfer Tax:1% of price up to $500,000.00: or, 1,425% of price if $500,000.00 and over plus $25.00 administrative fee.
NY State Transfer Tax: $2.00 per $500.00 of price, or 0.4% of purchase price
Payoff Fee to Title Closer:$350
UCC-3 Filing Fee: $30
For the Buyer
Attorney: Consult your attorney
Bank Fees: Points: 0% to3% of loan value
Application, credit check, etc.: $500+
Bank Attorney: $450+
Miscellaneous Bank Fees: $500+
Lien Search: $300
UCC-1 Filing: $20
Appraisal Fee: $300+
Application Fee (Credit Report/Appraisal): $500 Short Term Interest Equal to interest for balance month in which you close
Move-in Deposit: One time fee of $500+
Recognition Agreement Fee:$200+
Maintenance Adjustment: Pro-rated for the month of closing
Mansion Tax: 1% of entire purchase price when price is $1,000,000 or more.
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DOMAIN Properties Specializing in providing superior Service to Commercial and Residential real estate needs in Manhattan
and Beyond including Hotels Sales and other Commercial real estate in NYC. Find Apartments NYC
no Fee Apartments
DoMain Properties
New York City apartments
Domain Apartments
Real Estate Agents in NYC
Real Estate Broker NYC
Real Estate company in NYC
Manhattan Real Estate company in NYC
Apartment Rentals NYC
Manhattan Apartmets
Greenwich village Apartments
West village Apartment Rentals
New York City Apartments
New York Apartment Search
Find apartments NYC
Rent apartments NYC
Manhattan apartments for sale
Manhattan apartments for rent
Chelsea apartments
UWS apartments
UES apartments
Upper West Side apartments
Upper Eest Side apartments
Village apartments
SOHO apartments
Tribeca apartments
Downtown NYC apartments
Uptown NYC apartments
Midtown NYC apartments
Luxry NYC apartments
Budget NYC apartments
Rent Stabilized NYC apartments
exclusive NYC apartments
unique NYC apartments
