Closing cost estimates for the purchaser.
| Fee | Estimated Cost | |
|---|---|---|
| Attorney | Your Attorney | Consult your attorney ~$2,500 - $5,000+ |
| Bank | Points | ~0 - 3% of the loan value |
| Bank Application, Credit Check, etc. | $400 - $600 | |
| Bank Attorney | $900 - $1,500 | |
| Appraisal | $300 - $1,500 | |
| Tax Escrow | ~ 2 - 6 months of property taxes | |
| Mortgage Recording Tax | 1.8% of mortgage amount < $500,000 | |
| 1.925% of mortgage amount > $500,000+ | ||
| Mortgage Origination Fee | ~0 - 3% of loan amount | |
| Building | Board Package Processing Fees | $500 - $2,000 |
| Move-in Fee | $250 - $1,000 | |
| Move-in Deposit | $500 - $1,500 (refundable) | |
| Common Charges Adjustment | Pro-rated during the month of closing | |
| Condo Credit Check | $300 - $500 per buyer | |
| New Development | Residential NYC Transfer Tax* | 1% < $500,000 |
| 1.425% > $500,000+ | ||
| Progressive NY State Transfer Tax* | 0.4% for Residential transactions < $3M | |
| 0.65% for Residential transactions > $3M | ||
| Government & Title | Recording Fees | 1% < $500,000 |
| Title Insurance | 1.425% > $500,000+ | |
| Municipal Searches | 0.4% for Residential transactions < $3M | |
| Real Estate Tax Adjustment | 0.65% for Residential transactions > $3M | |
| Mansion Tax | $1M to < $2M: 1.00% | |
| $2M to < $3M: 1.25% | ||
| $3M to < $5M: 1.50% | ||
| $5M to < $10M: 2.25% | ||
| $10M to < $15M: 3.25% | ||
| $15M to < $20M: 3.50% | ||
| $25M or more: 3.90% | ||
| Residential Deed Transfers Title | $75 | |
| Fee Closer | $100 - $500 | |
| Lenders Policy Title Insurance | Rates may vary |
Closing cost estimates for the purchaser.
| Fee | Estimated Cost | |
|---|---|---|
| Attorney | Your Attorney | Consult your attorney ~$2,500 - $5,000+ |
| Lien Search Fee | ~$350 | |
| Bank | Points | ~0 - 3% of the loan value |
| Bank Application, Credit Check, etc | $400 - $600 | |
| Bank Attorney | $900 - $1,500 | |
| Mortgage Origination Rate | ~0 - 3% of the loan value | |
| UCC 1 Filing | $125 | |
| Appraisal | ~$300 - $1,500 | |
| Building | Board Package Processing Fees | $500 - $2,000 |
| Credit Check Fee | $100 - $300 per buyer | |
| Move-in Fee | $250 - $500 | |
| Move-in Deposit | $500 - $1,000 (refundable) | |
| Maintenance Adjustment | Pro-rated for the month of closing | |
| Recognition Agreement Fee | $200 - $300 | |
| Miscellaneous Co-op Charges | Varies by building. Consult the co-op’s transfer agent & board package | |
| Government | Transfer Tax Filing Fee | $100 |
| Mansion Tax | $1M to < $2M: 1.00% | |
| $2M to < $3M: 1.25% | ||
| $3M to < $5M: 1.50% | ||
| $5M to < $10M: 2.25% | ||
| $10M to < $15M: 3.25% | ||
| $15M to < $20M: 3.50% | ||
| $20M to < $25M: 3.75% | ||
| $25M or more: 3.90% |
With a winning approach that includes both endless patience and tenacious negotiation skills, Erez is known putting his clients at ease, educating them on the complex New York City market and helping people with the most significant purchase of their lives.
Contact TodayCompass
90 5th Avenue, New York, NY 10011
