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  • HOME
  • SELLERS SERVICES
    • HOW MUCH IS MY MANHATTAN CONDO APARTMENT WORTH
    • CMA, APPRAISAL
    • FIRPTA
    • NEW YORK PROPERTY DEEDS
    • CLOSING COST SELLER
  • BUYERS SERVICES
    • HELLO BUYERS
    • FOREIGN BUYERS
    • 20 THINGS FOREIGN BUYERS MIGHT WANT TO KNOW ABOUT APARTMENTS IN NEW YORK CITY
    • SIZES OF APARTMENTS IN MANHATTAN
    • CONDO, CO-OP...
    • BUYING AN APARTMENT IN NEW YORK - STEP-BY-STEP TIMELINE FROM OFFER TO CLOSING
    • BUYING A LARGE APARTMENT OVER 3000SF IN MANHATTAN
    • CLOSING COST BUYER
    • MORTGAGE LOAN CALCULATORS
    • SINGLE CONDO MANAGEMENT
  • PROPERTY SEARCH
    • SEARCH SALES
    • SEARCH RENTALS
  • TOP CONDOS
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NEW YORK HOME
CLOSING COST ESTIMATE: CONDOMINIUMS / TOWNHOUSES 

FOR THE SELLER:

  
Own Attorney:  $1,700 & up*
NYC Real Property Transfer Tax:  1% of purchase price if $500,000 or less 1.425% of purchase price if over $500,000 of the entire amount
NYS Transfer Tax:  .4% (.004) of purchase price
Payoff Bank Fees (if applicable):  $450*
Managing Agent Fee:  $250 - $750
Move-Out Deposit :  $500 - $1,000
Broker Commission:  6% of purchase price
E Tax Filing (ACRIS):  $50
Gains Tax Withholding (out of state seller):  7.7% of gain
Non-US Resident (FIRPTA):  10% of price withheld or paid

* Check with bank/mortgage broker for additional fees . New York State Law requires a written letter of engagement if the legal fee will exceed $3,000. Non New York State residents should procure exemption for state transfer tax forms (TP584) . These are only estimates. Please confirm closing costs for specific transactions with your attorney and/or mortgage representative.
NEW YORK HOME REAL ESTATE SERVICES INC., Licensed Real Estate Broker, 295 MADISON AVENUE, NEW YORK, NY 10017 PHONE: 212.991.8072
Copyright © 2001 New York Home Real Estate Services, Inc. All Rights Reserved