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Closing Costs

Closing Costs for a Cooperative Apartment
For the Seller
- Broker 6%
- Own Attorney $1,250.00 and up
- Coop Attorney $450.00
- Flip Tax 1% to 3% of price (if applicable)
- Stocker Transfer Tax $0.05 per share
- Move-Out Deposit $500.00
- New York City 1% of price up to $500,000.00, plus $25
- Transfer tax recording fee, and 1.425% of price over $500,001.00 (Paid by seller, except sale by sponsor)
- New York State
- Transfer Tax 0.4% (Paid by seller, except sale by sponsor)
- Payoff Bank Attorney $300.00
- UCC-3 Filing Fee $20.00
For the Purchaser
- Own Attorney $1,250.00 and up
- Bank Fees:
   1. Points 0 to 2% of the loan value (optional)
   2. Application, Credit Check, etc. $300.00
   3. Bank Attorney $500.00
   4. Short Term Interest Up to 1 Month (wash)
   5. UCC-1 Filing Fee $20.00
   6. Bank Underwriting Fee’s $350.00
- Move-in Deposit $500.00
- Lien Search $250.00
- Maintenance Adjustment 1 Month
- Mansion Tax 1% where price exceeds $1,000,000.00


Closing Costs for Condominium Apartments and Townhouses
For the Seller
- Broker 6%
- Own Attorney $1,250.00 and up
- Managing Agent Fee $450.00
- Move-Out Deposit $500.00
- New York City 1% of price up to $500,000.00, plus $25
- Transfer tax recording fee, and 1.425% of price over $500,001.00 (Paid by seller, except sale by sponsor)
- New York State 0.4% (Paid by seller, except sale by sponsor)
- Miscellaneous Title Fees $100.00
- Payoff Bank Attorney $300.00
For the Purchaser
- Own Attorney $1,250.00 and up
- Bank Fees:
   1. Points 0 to 2% of the loan value (optional)
   2. Application, Credit Check, etc. $300.00
   3. Bank Attorney $500.00
   4. Short Term Interest Up to 1 Month (wash)
   5. Tax Escrows 2 to 6 Months
   6. Bank Underwriting $350.00
- Fees
- Appraisal Fees $300.00 to $750.00 (dependent on the Price of the apt)
- Recording Fees $100.00
- Mortgage Tax 1.75% of the amount of mortgage on loans under $500,000.00; and 1.875% of amount of mortgage on loans over $500,001.00.
- Fee Title Insurance Approx $675.00 per $100,000.00
- Mortgage Title Insurance Approx $500.00 per $100,000.00
- Violation Search $170.00
- Managing Agent Fee $250.00
- Common Charge Adjustment 1 Month
- Real Estate Tax Adjustment 1 to 3 Months
- Mansion Tax 1% where price exceeds $1,000,000.00


HUD Rebny
Headquarters Phone Number: 212.448.9400 Company Email: info@TriumphProperty.com Locations
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