Seller’s Closing Costs

CONDOMINIUM & TOWNHOUSES CLOSING COSTS
Seller's Attorney: $1,200.00 and up
NYC Transfer Tax (Residential): 1% of sales price up to $500K
1.425% of sales price of $500K and up
NYC Transfer Tax (Commercial): 1.425% of sales price up to $500K
2.625% of sales price $500K and up
NYS Transfer Tax: .4% of the sales price
Managing Agent’s Fee (or Coop's Attorney Fee): $500.00 and up
Condo Transfer Tax: Typically 1% to 3% of the sales price, if applicable
Move-Out Deposit: $1,000.00 (refundable in most cases)
Brokerage Fee: Typically 6% of the sales price
Adjustments: Up to one month of common charges, real estate taxes or maintenance fees
Mortgage Associated Fees
Mortgage Payoff: Amount of outstanding mortgage, if applicable
Bank Payoff Attorney: $250.00 and up
COOP & CONDOP CLOSING COSTS (same as above in addition to the following)
Coop Atty: $450 and up
Stock Transfer Stamps: $.05 per share
UCC Filing Fee: $100
Flip Tax: Typically 1% to 3% of the sales price, if applicable
Estate Fees: May be required in some Coops for estate sales
Additional Fees, if applicable:
Gains Tax (out-of-state seller): 7.7% of gain
Non-US Resident (FIRPTA): 10% of sales price withheld or paid