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CLOSING COSTS
These are only estimates. Please confirm closing costs for specific transactions with your attorney and/or mortgage representative.


Co-operative Apartments


SELLER'S COSTS:

Own Attorney                                                                Consult your attorney
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Stock Transfer Stamps                                                 $.05 per share
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New York City Real Property Transfer Tax
(Paid by seller, except most sponsor sales)

Sales $500,000 and Under                                                  1% of Sale Price
Sales Over $500,000                                                    1.425% of Sale Price
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New York State Real Property Transfer Tax



(Paid by seller, except most sponsor sales)                  0.4% of Sale Price
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UCC-3 Filing                                                                                   $100
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              Flip Tax (if applicable)                                  Determined by co-operative building
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Payoff Bank Attorney (if applicable)                                         $450 + up
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  Managing Agent Fee                                                                      Varies
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        Move-Out Fee                                                                          $500 - $1000 
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Broker Commission                                      Never 6% with RB Homes
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                    Estate Fees                              Coop may impose additional fees for estate sales
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Lost Stock and Lease Fees                                                  $250 - $750
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BUYER'S COSTS:

Own Attorney                                                               Consult your attorney
______________________________________________________________________

Managing Agent Application Fee                                                    Varies
______________________________________________________________________

Credit Report Fee                                                      $50 - $100 per applicant
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New York City Mansion Taxes as of FY 2020
Purchase PriceMansion Tax 
Less than $999,999 0.00% 
$1,000,000 – $1,999,999 1.00% 
$2,000,000 – $2,999,9991.25% 
$3,000,000 – $4,999,999 1.50% 
$5,000,000 – $9,999,999 2.25% 
$10,000,000 – $14,999,999 3.25% 
$15,000,000 – $19,999,999 3.50% 
$20,000,000 – $24,999,999 3.75% 
$25,000,000 or more 3.90%

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Move-in Deposit                                        $500 - $1,000 (usually refundable)
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                                     Mortgage Associated Fees:                                         

Origination Costs – points                                            0 - 3% value of loan
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Application, Credit Check, etc.                                                      $350 + up
______________________________________________________________________

Appraisal                                                                                        $275 + up
______________________________________________________________________

Bank Attorney                                                                                $650 + up
______________________________________________________________________

UCC-1 Filing                                                                                     $50 + up
______________________________________________________________________

Recognition Agreement Fee                                                               $200 + up
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Lien Search                                                                                              $350
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Maintenance Adjustment                                             Prorated for month of closing

* Check with bank/mortgage broker for additional fees . These are only estimates. Please confirm closing costs for specific transactions with your attorney and/or mortgage representative.

______________________________________________________________________

Condominium Apartments and Townhouses


SELLER'S COSTS:

Own Attorney                                                              Consult your attorney
______________________________________________________________________

NYC Real Property Transfer Tax    

Sales $500,000 and Under                                                   1% of Sale Price

Sales Over $500,000                                                  1.425% of Sale Price  

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 NYS Transfer Tax                                                               0.4% of Sale Price
______________________________________________________________________

UCC-3 Filing                                                                                      $100
______________________________________________________________________

Payoff Bank Fees (if applicable)                                                                $450 * + up
______________________________________________________________________

Managing Agent Fee                                                                                  Varies
______________________________________________________________________

Move-Out Fee                                                                               $500 - $1,000 
______________________________________________________________________

Broker Commission                                                    NEVER 6% with RB Homes
______________________________________________________________________




BUYER'S COSTS:

Own Attorney                                                             Consult your attorney
______________________________________________________________________

Managing Agent Fee                                                                               Varies
______________________________________________________________________

Credit Report Fee                                                        $50 - $100 per applicant
______________________________________________________________________



New York City Mansion Taxes as of FY 2020Purchase PriceMansion Tax 
Less than $999,999 0.00% 
$1,000,000 – $1,999,999 1.00% 
$2,000,000 – $2,999,9991.25% 
$3,000,000 – $4,999,999 1.50% 
$5,000,000 – $9,999,999 2.25% 
$10,000,000 – $14,999,999 3.25% 
$15,000,000 – $19,999,999 3.50% 
$20,000,000 – $24,999,999 3.75% 
$25,000,000 or more 3.90%

______________________________________________________________________

Move-in Fee                                                                                  $500 - $1,000
______________________________________________________________________

                                          Mortgage Associated Fees:                                

Origination Costs – points                                      0 - 3% value of loan
______________________________________________________________________

Application, Credit Check, etc.                               $500 + up
______________________________________________________________________

Appraisal                                                                $275 + up
______________________________________________________________________

Bank Attorney                                                        $500 + up
______________________________________________________________________

UCC-1 Filing                                                          $50 + up
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Mortgage Recording Tax          

Sales $500,000 and Under                                   1.8% of mortgage

Sales Over $500,000                                            1.925% of mortgage      
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         Title Insurance, Title Search & Rec. Fees             Approximately 0.5% of purchase price
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Building Searches                                                 $200 - $400
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Recording Charge                                                 $17 per document plus $5 per page
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Real Estate Tax Escrow                                         2-6 months
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   If Purchased Directly from Sponsor: ( ie: new construction)

BUYER'S COSTS:

       NYC Real Property Transfer Tax        

Sales $500,000 and Under                                                       1% of Sale Price

Sales Over $500,000                                                   1.425% of Sale Price      
______________________________________________________________________          

NYS Transfer Tax                                              $4 per $1,000 of purchase price
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Sponsor's Attorney Fee                                                                      $1,500 +up



* Check with bank/mortgage broker for additional fees . These are only estimates. Please confirm closing costs for specific transactions with your attorney and/or mortgage representative.
39-06 62nd Street Suite #BC Woodside, NY 11377. 212.203.9158 © 2018 RB HOMES INC. ALL MATERIAL PRESENTED HEREIN IS INTENDED FOR INFORMATION PURPOSES ONLY. WHILE, THIS INFORMATION IS BELIEVED TO BE CORRECT, IT IS REPRESENTED SUBJECT TO ERRORS, OMISSIONS, CHANGES OR WITHDRAWAL WITHOUT NOTICE. ALL PROPERTY INFORMATION, INCLUDING, BUT NOT LIMITED TO SQUARE FOOTAGE, ROOM COUNT, NUMBER OF BEDROOMS AND THE SCHOOL DISTRICT IN PROPERTY LISTINGS SHOULD BE VERIFIED BY YOUR OWN ATTORNEY, ARCHITECT OR ZONING EXPERT. EQUAL HOUSING OPPORTUNITY.
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  • Home
  • LISTINGS
  • About
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  • NYC REBATES