SELLER CLOSING COSTS
CONDO
Attorney: Consult your attorney
Broker: Typically 6%
Processing Fee: $450+
NY State Transfer Tax: $4 per $1,000 of price
NYS Equalization Fee: $75
NYC Transfer Tax : SEE BELOW
Commercial: Up to $500,000 = 1.425% or $500,000+ = 2.625%
ADDITIONAL REAL ESTATE EXPENSES
Non Deed transfers (ie co-ops): $50
Residential Deed Transfers : $75
Commercial Deed Transfers: $165
UCC-3 Filing Fee: $100
Miscellaneous Condominium Charges: Vary by building
Pick-up/Payoff Fee: $250-$500
Note: For condominiums in new developments, the Purchaser will often costs normally paid by the Seller. These include Seller attorney fees as well as NY and NYC Transfer Taxes.
CO-OP
Attorney: Consult your attorney
Broker: Typically 6%
Co-op Attorney: $450+
Flip Tax: Typically 1% to 3% of price (if applicable)
Stock Transfer Tax: $0.05 per shar
Move-out Deposit/Fee: Varies by buildin
NY State Transfer Tax: $4 per $1,000 of price
NYS Equalization Fee: $75
NYC Transfer Tax : SEE BELOW
Commercial: Up to $500,000 = 1.425% or $500,000+ = 2.625%
ADDITIONAL REAL ESTATE EXPENSES
Non Deed transfers (ie co-ops): $50
Residential Deed Transfers : $75
Commercial Deed Transfers: $165
UCC-3 Filing Fee: $100
Miscellaneous Co-op Charges: Vary by building
Pick-up/Payoff Fee: $250-$500.
TOWNHOME/SINGLE FAMILY
Attorney: Consult your attorney
Broker: Typically 6%
NY State Transfer Tax: $4 per $1,000 of price
NYS Equalization Fee: $75
NYC Transfer Tax : SEE BELOW
Commercial: Up to $500,000 = 1.425% or $500,000+ = 2.625%
ADDITIONAL REAL ESTATE EXPENSES
Non-Deed Transfers = $50
Residential Deed Transfers= $75
Commercial Deed Transfers = $165
Miscellaneous Title Fees: $200-$500
Pick-up / Payoff Fee to Title Closer: $100-$300
NYC TRANSFER TAXES FOR ALL RESIDENTIAL PROPERTIES
≥ $1M but < $2M 0.4%
≥ $2M but < $3M 0.4%≥ $3M but < $5M 0.65%
≥ $5M but < $10M 0.65%
≥ $10M but < $15M 0.65%
≥ $15M but < $20M 0.65%
≥ $20M but < $25M 0.65%