Closing cost estimates for purchaser
| Fee | Estimated Cost |
|---|---|
| Your Attorney | Consult your attorney (~$2500 - $5,000) |
| Fee | Estimated Cost |
|---|---|
| Points | 0% - 3% of loan value* |
| Bank Application, Credit Check, etc. | $400 - $600 |
| Bank Attorney | $900 - $1,500 |
| Appraisal | $300 - $1,500* |
| Tax Escrow | ~2 - 6 months of property taxes** |
| Mortgage Recording Tax | 1.8% of mortgage amount < $500,000 1.925% of mortgage amount > $500,000+ |
| Mortgage Origination Fee | ~0 - 3% of loan amount |
| Fee | Estimated Cost |
|---|---|
| Board Package Processing Fees | $500 - $2,000 |
| Move-in Fee | $250 - $1,000 |
| Move-in Deposit | $500 - $1,500 (refundable) |
| Common Charges Adjustment | Pro-rated during the month of closing |
| Condo Credit Check | $300 - $500 per buyer |
| New Development | 1% < $500,000 |
| Residential NYC Transfer Tax* | 1.425% < $500,000+ |
| Progressive NY State Transfer Tax* | .4% for residential transactions < $3M .65% for residential transactions > $3M |
| Fee | Estimated Cost |
|---|---|
| Recording Fees | ~$250 |
| Title Insurance | ~0.45% of purchase price |
| Municipal Searches | $350-$500 |
| Real Estate Tax Adjustment | Pro-rated amount depends on when the tax is collected |
| Residential Deed Transfers Title | $75 |
| Fee Closer | $100 - $500 |
| Lenders Policy Title Insurance | Rates may vary |
| Mansion Tax | $1M- <$2M: 1.00% $2M -< $3M: 1.25% $3M -< $5M: 1.50% $5M -< $10M: 2.25% $10M -< $15M: 3.25% $15M- <$20M: 3.50% $20M -< $25M: 3.75% $20M or more: 3.90% |
Closing cost estimates for purchaser
| Fee | Estimated Cost |
|---|---|
| Your Attorney | Consult your attorney (~$2,500+) |
| Lien Search Fee | ~$350 |
| Fee | Estimated Cost |
|---|---|
| Points | 0% - 3% of loan value* |
| Bank Application, Credit Check, etc. | $400 - $600 |
| Bank Attorney | $900 - $1,500 |
| Mortgage Origination Rate | 0 - 3% of loan amount* |
| UCC 1 Filing | $125 |
| Appraisal | $300 - $1,500* |
| Fee | Estimated Cost |
|---|---|
| Board Package Processing Fees | $500 - $2,000 |
| Credit Check Fee | $100 - $300 per buyer |
| Move-in Fee | $250 - $500 |
| Move-in Deposit | $500 - $1,000 (refundable) |
| Maintenance Adjustment | Pro-rated for the month of closing |
| Recognition Agreement Fee | $200 - $300 Varies by building. Consult the cooperative's transfer agent & board package |
| Fee | Estimated Cost |
|---|---|
| Transfer Tax Filing Fee | $100 |
| Mansion Tax | $1M -< $2M: 1.00% $2M -< $3M: 1.25% $3M -< $5M: 1.50% $5M -< $10M: 2.25% $10M -< $15M: 3.25% $15M -< $20M: 3.50% $20M -< $25M: 3.75% $20M or more: 3.90% |
We pride ourselves in providing personalized solutions that bring our clients closer to their dream properties and enhance their long-term wealth.