Buyer’s Closing Costs

Buyer’s Attorney: $1,200.00 and up
Board Application Fee: $450 and up
Title Search/Lien Search: $500 and up
Title Insurance: $7 per each $1,000 of mortgage (not applicable in coops & condops)
Move-In Deposit/Fee: $1,000 (refundable in most cases)
Mansion Tax: 1% on sales price of $1M and up
Real Estate Escrow (not applicable in coops & condops): 2 to 6 months of real estate taxes
Adjustments: up to 1 month of common charges, real estate taxes or maintenance fees
Mortgage Associated Fees
Bank Application & Credit Check: $400 and up
Appraisal: $300 and up
Mortgage Points: Typically 0-3% of amount of the loan
NYC Mortgage Tax: 1.80% on mortgages of $500K or less 1.925% on mortgages $500K and up (residential: 1-3 family) 2.80% on mortgages $500K and up (all other properties) [not applicable in coops & condops]
Bank Attorney: $650 and up
Recording Fee: $300 and up
COOP & CONDOP CLOSING COSTS (same as above in addition to the following)
UCC Filing Fee: $100
Recognition Agreement Fee: $200 and up

Additional Fees for the Purchase of a New Construction
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 of $500K and up
NYS Transfer Tax: .4% of the sales price
Sponsor’s Attorney’s Fees: $1,200 and up
Reserve Fund: 1 to 2 months of common charges