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Manhattan Closing Costs for Coops and Condos
COOPERATIVE APARTMENTS CLOSING COSTS FOR THE SELLER:
Broker NegotiableAttorney $1,800.00 and upCo-op Attorney $450.00Flip Tax 1% to 3% of price (if applicable)Stock Transfer Tax $.05 per shareMove-out Deposit $500.00 -$1000.New York City Transfer Tax 1% of price up to $500,000,plus $25.00 recording fee, and 1.425% of price over$500,000.New York State Transfer Tax $2.00 per $500.00 of sales priceBank Attorney Fee $300.00UCC-3 Filing Fee $20.00
FOR THE PURCHASER:
Attorney $1,800.00 and upBank Fees (if applicable):Points 0 to 3% of loan valueApplication, credit check, etc. $400.00Bank Attorney $450.00UCC-1 Filing Fee $20.00Short Term Interest One MonthMove-in Deposit $500.00 -$1000Recognition Agreement Fee $200.00Lien Search $250.00Maintenance Adjustment One MonthMansion Tax 1% where price exceeds $1,000,000
CONDOMINIUM APARTMENTS CLOSING COSTS FOR THE SELLER:
Broker NegotiableAttorney $1,800.00 and upManaging Agent Fee $750.00Move-out Fee $100.00 -$1000New York City Transfer Tax 1% of purchase price up to$500,000, and 1.425% of the price over $500,000New York State Transfer Tax $2.00 per $500 of priceMiscellaneous Title Co. Fees $100.00Bank Attorney Fee $300.00
FOR THE PURCHASER:
Attorney $1,800.00 and upBank Fees (if applicable):Points 0 to 3% of loan valueApplication, credit check, etc. $500.00Bank Attorney $450.00Short Term Interest One MonthTax Escrows 2-6 MonthsRecording Fees $100.00Mortgage Tax 1.75% of mortgage amount on loans under $500,000, ... more

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