CONDO 

• Attorney: Consult your attorney

• Bank Fees: $350-$750

• Application Fee: $350

• Processing Fee: $330

• Appraisal Fee: $300-$1,500 (depending on sales price)

• Credit Report Fee: $10.10 single/$15.20 joint

• Bank Attorney: $650-$750

• Broker fee: 3% (negotiable)

• Tax Escrows: 2 to 6 months

• Recording Fees: $250-$750

• Fee Title Insurance: Amounts vary, please consult your attorney

• Mortgage Title Insurance: Amounts vary, please consult your attorney

• Municipal Search: $350-$500

• Mansion Tax: 1% of entire purchase where price is $1M to $2M.

   ≥ $2M but < $3M 1.25%

  ≥ $3M but < $5M 1.5%

  ≥ $5M but < $10M 2.25%

  ≥ $10M but < $15M 3.25%

• NYC Mortgage Tax (paid by borrower):

a) Mortgage less than $500,000 = 1.80%             b) Mortgage $500,000+ on 1-3 family residential dwelling = 1.925%                                   c) 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

• Note: For condominiums in new developments, the Purchaser will pay costs normally paid by the Seller. These include Seller attorney fees as well as NY and NYC Transfer Taxes.

CO-OP

• Buyer’s Attorney: Consult your attorney

• Bank Fees: $350-$750

• Application Fee: $350

• Processing Fee: $330

• Appraisal Fee: $300-$1,500 (depending on sales price)

• Credit Report Fee: $10.10 single/$15.20 joint

• Bank Attorney: $650-$750

• Broker fee: 3% (negotiable)

• Lien Search: $250-$350

• UCC-1 Filing: $100

• Mansion Tax: 1% of entire purchase price where price is $1,000,000 or more.

• ≥ $2M but < $3M 1.25%

  ≥ $3M but < $5M 1.5%

  ≥ $5M but < $10M 2.25%

  ≥ $10M but < $15M 3.25%

• ADDITIONAL REAL ESTATE EXPENSES

• Miscellaneous Co-op Charges: Vary by building

• Recognition Agreement Fee: $200+

• Maintenance Adjustment: Pro-rated for the month of closing

• Short Term Interest: Equal to interest for balance of month in which you close

• Mortgage Tax (paid by borrower):

a) Mortgage less than $500,000 = 1.80%             b) Mortgage $500,000+ on 1-3 family residential dwelling = 1.925%                                   c) Mortgage on all other property over $500,000.00 = 2.80%

TOWNHOME/SINGLE FAMILY

• Buyer’s Attorney: Consult your attorney

• Bank Fees: $750

• Application Fee: $350

• Processing Fee: $330

• Appraisal Fee: $300-$1,500 (depending on sales price)

• Credit Report Fee: $10.10 single/$15.20 joint

• Bank Attorney: $650-$750

• Broker fee: 3% (negotiable)

• Tax Escrows: 2 to 6 months

• Recording Fees: $250-$750

• Fee Title Insurance: Amounts vary, please consult your attorney

• Mortgage Title Insurance: Amounts vary, please consult your attorney

• Municipal Search: $350-$500

• Mansion Tax: 1% of entire purchase price where price is $1,000,000 or more.

• ≥ $2M but < $3M 1.25%

  ≥ $3M but < $5M 1.5%

  ≥ $5M but < $10M 2.25%

  ≥ $10M but < $15M 3.25%

• NYC Mortgage Tax (paid by borrower):

a) Mortgage less than $500,000: 1.80%.            b) Mortgage $500,00 or more: 1.925% of loan amount