NY Estimate Fee

Cooperative Apartment

For Seller

  • Broker Fees: Are typically 6%. Fees vary according to property size and amount of marketing

  • Attorney Fees: Approximately $1,500

  • Managing Agent: $450

  • Flip Tax: Consult Managing Agent

  • Stock Transfer Tax: $.05 per share

  • Move Out Deposit Fee: $1,000

  • New York City Transfer Tax: 1.00% of price up to $500,000 1.425% of entire price when it exceeds $500,000

  • New York State Transfer Tax: 0.4% (.004) of price

  • Payoff Bank Attorney: If seller has mortgage $30

  • UCC-3 Filing Fee: If seller has mortgage $350For Purchaser

  • Own Attorney Fee: Approximately $1500

  • Bank Fees/Application/Credit/Appraisal/Bank Attorney/Miscellaneous Fees: $1,600

  • Short-Term Interest: One month max*

  • Move-In Deposit: $1000

  • Managing Agent or Co-op Attorney Fee: $600

  • Lien Search: $300

  • Maintenance Adjustments: One month tax

  • Mansion Tax: 1% of entire price when price exceeds $1,000,000

  • *Prorated for month of closingCondominium/TownhouseFor Seller

  • Broker Fees: Are typically 6%. Fees vary according to property size and amount of marketing

  • Attorney Fees: Approximately $1,500

  • Managing Agent: $450

  • Move Out Deposit Fee: $1,000

  • New York City Transfer Tax: 1.00% of price up to $500,000 1.425% of entire price when it exceeds $500,000

  • New York State Transfer Tax: 0.4% (.004) of price

  • Miscellaneous Title Company Fees: If seller has mortgage $200For Purchaser

  • Attorney Fees: Approximately $1,500

  • Bank Fees: Points 2%

  • Application/Credit/Appraisal/Bank Attorney/Miscellaneous Fees: $1,600

  • Short-Term Interest: One month max*

  • Real Estate Tax: Escrows 2-6 months

  • Recording Fee: $200

  • Mortgage Tax: 1.75% of mortgage on loans under $500,000 or 1.875% of entire amount on loans over $500,000

  • Fee Title Insurance: Approximately $450 per $100,000

  • Mortgage Title Insurance: Approximately $200 per $100,000

  • Miscellaneous Title Charges: $300

  • Managing Agents Fee: $250

  • Adjustments:

  • Common charges: One month max*

  • Real Estate Taxes: 1 to 6 months

  • Mansion Tax: 1% of entire price when price exceeds $1,000,000

  • *Prorated for month of closing

  • *Expect to pay eight months Real Estate Taxes. These taxes are combined between seller as an adjustment and escrow established by lender.

  • *Note: When purchasing condos from a sponsor, the purchaser will be required to pay New York City and New York State Transfer Taxes; see above for amounts.

  • *Also, buyers are required to pay sponsor’s attorney’s fee; this fee is approximately $1,000.Multi-Family Residential/Commercial PropertyFor Seller

  • Broker Fees: Are typically 6%. Fees vary according to property size and amount of marketing

  • Attorney Fees: Approximately $5,000

  • New York City Transfer Tax: 1.425% of price up to $500,000 2.625% of entire price when it exceeds $500,000

  • New York State Transfer Tax: 0.4% (.004) of price

  • Payoff Bank Attorney: If Seller has mortgage - $350 Miscellaneous $200 Transfer Security Deposit T.S.D.For Purchaser

  • Own Attorney Fee: Approximately $5,000

  • Bank Fees: Points 2%>

  • Application/Credit/Appraisal/Bank Attorney/Miscellaneous Fees: $5,000-$10,000

  • Short-Term Interest: One month max*

  • Mortgage Tax: 2.75% of entire amount on loans over $500,000

  • Real Estate Tax: Escrows 2-6 months

  • Fee Title Insurance: Approximately $450 per $100,000

  • Mortgage Title Insurance: Approximately $200 per $100,000

  • Miscellaneous Title Charges: $1,000

  • Adjustments: Rents* T.B.D. Real Estate Taxes 1-6 months *Prorated for month of closing