Closing Cost Estimates*
Condominium Apartments & Townhouses
| Purchaser’s Attorney | $1,250 and up |
| Bank Fees: | |
| Points | 0 to 3% of loan amount |
| Application, credit check, etc. | $500.00 |
| Bank Attorney | $450.00 – $750.00.00 |
| Short Term Interest | Up to one month |
| Tax Escrows | 2 to 6 months |
| Recording Fees | $150.00 |
| Mortgage Tax | 2% ** of amount of mortgage on loans under $500,000.00 |
| 2.125%** of amount of mortgage loans of $500,000.00 and over | |
| Title Insurance Rates vary by NY law as insurance increases | |
| Violation Search | $250.00 |
| Managing Agent Fee | $250.00 |
| Common Charge Adjustment | Up to one month |
| Real Estate Tax Adjustment | 1 to 5 months |
| Mansion Tax | 1% of price where price is $1,000,000.00 or more |
| Title Closer Fee | $100.00 – $150.00 |
Closing Cost Estimates*
Cooperative Apartments
| Purchaser’s Attorney | $1,250 and up |
| Bank Fees: | |
| Points | 0 to 3% of loan amount |
| Application, credit check, etc. | Approximately $500.00 |
| Bank Attorney | Approximately $450.00 – $800.00 |
| UCC-I Filing | $75.00 |
| Short Term Interest | Up to one month |
| Move-in Deposit | $500.00 – $1,000.00 |
| Recognition Agreement Fee | $250.00 |
| Lien Search | $250.00 |
| Maintenance Adjustment | Up to one Month |
| Mansion Tax | 1% of price where price is $1,000,000.00 or more |
*These are only estimates. Actual costs may vary.