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 ______________________________________________________________________
Stock Transfer Stamps $.05 per share ______________________________________________________________________
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 ______________________________________________________________________
New York State Real Property Transfer Tax
(Paid by seller, except most sponsor sales) 0.4% of Sale Price ______________________________________________________________________
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.
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 ______________________________________________________________________
Mortgage Recording Tax
Sales $500,000 and Under 1.8% of mortgage
Sales Over $500,000 1.925% of mortgage ______________________________________________________________________
Title Insurance, Title Search & Rec. Fees Approximately 0.5% of purchase price ______________________________________________________________________
Building Searches $200 - $400 ______________________________________________________________________
Recording Charge $17 per document plus $5 per page ______________________________________________________________________
Real Estate Tax Escrow 2-6 months ______________________________________________________________________
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 ______________________________________________________________________
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.