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Closing Costs

The fee and cost written here represent approximate and variable amount. Depending on the institution, firm, brokerage and management, the actual charge may vary.

* All of the below are approximate, closing cost items and amounts may vary. Please consult your attorney, managing agent and/or lending institution for more accurate charges.

Cooperative

Seller

Broker 6%*
Own Attorney $1250.00 & up*
Coop Attorney $450.00 Approx.*
Flip Tax 1~3% (if applicable)
Stock Transfer Tax $0.05 per share
Move-out Deposit $500.00*
NYC Transfer Tax
1% up to$500K, +$25 recording fee
1.425% of over $500,001.00
(except sale by some sponsor)
NYS Transfer Tax 0.4%
(except sale by some sponsor)
Payoff Bank Attorney* $300.00
UCC-3 Filing Fee $20.00

Buyer

Own Attorney $1250.00 & up
Bank Fees:

Points: 0 ~2% of loan value
Application, credit check: $300.00*
Bank Attorney: $500.00 Approx.*
UCC-1 Filing Fee: $20.00
Bank Underwriting Fee: $350.00*
Appraisal Fee: $300~750.00+*
Short Term Interest: up to 1 month

Move-in Deposit $500.00*
Lien Search $250.00*
Maintenance Adjustment 1 month
Mansion Tax 1% where price exceeds $1,000,000.00

Condominium

Seller

Broker 6%*
Own Attorney $1250.00 & up*
Managing Agent Fee $450.00 Approx.*
Move-out Deposit $500.00*
NYC Transfer Tax
1% up to$500K, +$25 recording fee
1.425% of over $500,001.00
(except sale by some sponsor)
NYS Transfer Tax 0.4%
(except sale by some sponsor)
Payoff Bank Attorney $300.00
Miscellaneous Title Fees $100.00

Buyer

Own Attorney $1250.00 & up*
Bank Fees:

Points: 0 ~2% of loan value
Application, credit check: $300.00*
Bank Attorney: $500.00*
Short Term Interest: up to 1 month
Tax Escrows: 2 to 6 months
Bank Underwriting Fee: $350.00*
Appraisal Fees: $300~750.00+*

Recording Fees $100.00
Mortgage Tax 1.75%(_$500,000)
1.875%(_$500,001)
Fee Title Insurance
Approx. $675 per $100,000
Mortgage Title Insurance
Approx. $500 per $100,000
Violation Search $170.00
Managing Agent Fee $250.00*
CC Adjustment 1month
RET Adjustment 1~3 months
Mansion Tax 1% where price exceeds $1,000,000.00