Closing Costs

Purchaser Closing Costs in NYC (Always review with your attorney)

CONDO

• Buyer’s Attorney: Varies
• Bank Fees: $350-$750
• Application Fee: $350
• Processing Fee: $330
• Appraisal Fee: $300-$1,500
• Credit Report Fee: $10-20
• Bank Attorney: $650-$750
• Lien Search: $250-$350
• Tax Escrows: 2 to 6 months
• Common Charges: Pro-Rata
• Recording Fees: $250-$750
• Fee Title Insurance: Varies
• Mortgage Title Insurance: Varies
• Municipal Search: $350-$500
• Mansion Tax: 1-3.9% for properties above $1m
• Mortgage Tax:
• Mortgage less than $500,000 = 1.80%
• Mortgage $500,000+ on 1-3 family = 1.925%
• Mortgage on all other property over $500,000.00 = 2.80%

COOP

• Buyer’s Attorney: Varies
• Bank Fees: $350-$750
• Application Fee: $350
• Processing Fee: $330
• Appraisal Fee: $300-$1,500
• Credit Report Fee: $10-20
• Bank Attorney: $650-$750
• Lien Search: $250-$350
• UCC-1 Filing: $100
• Mansion Tax: 1-3.9% for properties above $1m

Additional Real Estate Expenses

• Miscellaneous Co-op Charges: Varies
• Recognition Agreement Fee: $200+
• Maintenance Adjustment: Pro-Rata