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Closing Costs
Tel.:
New York:
+1 212 343 0600
Israel:
+972 3 374 1560
UK:
+44 20 7442 5512
E-mail:
Address:
243 west 60th street, store 2
New York, NY 10023
Closing Costs
General information
Please indicate whether you are buying or selling, and choose the options that best describe your transaction.
You are
Are buying directly from the Sponsor?
You are considering to buy a property that is
The property you are selling is
Are you taking mortgage?
Are you taking a loan?
Price and downpayment
Price
Please enter the price of the apartment you would like to buy, and the percentage that you are ready to pay upfront.
Price
USD
Downpayment
%
Mortgage
0
USD
Buying from Sponsor
Normally, Transfer taxes and seller's attorney fees, if applicable, are paid by the seller. However, when buying a sponsor unit (for example, in a new development), these expenses are the buyer's responsibility.
New York City Real Property Transfer Tax
0
USD
If price < $499,999 then 1%
If price > $499,999 then 1.425%
New York State Transfer Tax
0
USD
0.4% of sales price
Seller's Attorney Fee
USD
$2,000-$2,500
Fees for Condo/Townhouse
Attorney, insurance company, title search company and other service providers will help you with due diligence on the property and recording of the contract.

All property-related documents must be copied, certified and filed with the New York City Register

All real estate purchases over $1,000,000 are subject to Mansion Tax.
Attorney Fees
USD
Starting at $2,000
Survey Fees
USD
$250-$350, if applicable
Recording Expenses
USD
Starting at $500
Title Insurance
0
USD
$450 per $100,000
Mansion Tax
0
USD
1% if the price plus NYS and NYC Transfer tax
> $1,000,000
1% if the price plus NYS and NYC Transfer tax
> $1,000,000
Fees for Coop
Attorney and lien search company will help you with due diligence on the property and recording of the contract.

All real estate purchases over $1,000,000 are subject to Mansion Tax.
Attorney Fees
USD
Starting at $2,000
Mansion Tax
0
USD
1% if the price plus NYS and NYC Transfer tax
> $1,000,000
Building-related Fees
Each building has its own Board that sets the rules specific to their building. Such rules cover such procedures as application and approval of future residents, the move-in procedure, sublet policy, and any repairs and improvements on the building.

Residents are responsible for monthly charges for common areas and services in the building.
Application
USD
$200 and up
Move-In Deposit
USD
$500-$1000, usually refundable
Common Charges Adjustment
USD
One month of common charges, prorated for the month
Lead Paint Disclosure Fee
USD
$0-$50
Building-related Fees
Each building has its own Board that sets the rules specific to their building. Such rules cover such procedures as application and approval of future residents, the move-in procedure, sublet policy, and any repairs and improvements on the building.

Residents are responsible for monthly charges for common areas and services in the building.
Move-In Deposit
USD
$500-$1000, usually refundable
Maintenance Adjustment
USD
One month of common charges, prorated for the month
Lead Paint Disclosure Fee
USD
$0-$50
Bank and Mortgage-Associated Fees
Bank and Loan-Associated Fees
If you are taking on a mortgage to finance your purchase, you will incur costs associated with mortgage application and origination. Fees vary among lending institutions; some of them are fixed while others are negotiable.

Your lender will require you to obtain an independent appraisal as well as a mortgage title insurance.

Total mortgage-related costs run from 3% to 6% of the borrowed amount.

Mortgage tax is a one-time tax paid to the State of New York when the mortgage is obtained.
Appraisal
USD
$400 and up
Credit Report
USD
$30-$80 per applicant
Mortgage Application
Loan Application
USD
$300 and up
Mortgage Origination Fees
Loan Origination Fees
%
0-3% of value of the loan
0
USD
UCC-1 Filing
USD
$75-$125
Bank Attorney
USD
$1200-$1500
$400 and up
Recognition Agreement
USD
$300 - $350
Other Bank Fees (tax escrow, homeowners' insurance)
USD
$400-$1200
Mortgage Title Insurance
0
USD
$200 per $100,000
Mortgage Tax
0
USD
If loan < $499,999 then 1.8% of mortgage loan
If loan > $499,999 then 1.925% of mortgage loan
Attorneys
Your attorney will provide you with legal guidance and representation during title clearance, preparation and signing of the contract.
Attorney Fees
USD
$2,000 and up
Taxes
In the state of New York, the Automated City Registering Information System is used to compute and file Real Estate Property Transfer Taxes.

Tax Withholding is a due upon sale withholding for Sellers whose primary residence is outside of the New York State. The withholding is calculated from the gross sales price. Foreign nationals are subject to the 10% tax withholding at the time of sale. In case the seller's Capital Gain tax is smaller than the withheld amount, the Seller will receive tax refund from the State.

Capital gain is taxed on the difference between the purchase and sales price of the property, adjusted for capital improvements and selling expenses.
New York City Real Property Transfer Tax
0
USD
If price < $499,999 then 1%
If price > $499,999 then 1.425%
New York State Transfer Tax
0
USD
0.4% of sales price
Electronic Tax Filing with ACRIS
USD
Gains Tax Withholding
USD
For out-of-state US residents, 7.7% of gain
Tax Withholding for Non-US Residents
USD
For non-US residents, 10% of sales price
Stock Transfer Stamps
USD
$0.05 per share
Lost Stock and Lease
USD
If applicable, $250-$750
Recording, Filing
UCC-3 is a public record indicating the satisfaction of a mortgage on a real property.

Usually the Seller pays only a small fraction of the total recording fees. Most recording fees are normally paid by the Buyer.
Title and Recording Fees
USD
Bank Fees
Your bank and lending institution often charge a fee to process and expedite the mortgage or loan payoff.
Payoff Bank Fees
USD
$300 and up
Mortgage Satisfaction Fee
Loan Satisfaction Fee
USD
$150-$300
Building-related Fees
Managing Agent Fee
USD
$300-$700
Move-out Deposit
USD
$500-$1000, usually refundable
Flip Tax
USD
If applicable
Estate Fees
USD
If applicable
Brokers
Brokers
Broker Commission
0
USD
6% of sales price
Closing Costs
Total:
0
USD
Find your home
Looking for:
Location:
Bedrooms:
Total area:
sq. ft.
Price:
USD
Contact Us:
Tel.:
New York:
+1 212 343 0600
Israel:
+972 3 374 1560
UK:
+44 20 7442 5512
E-mail:
Address:
243 west 60th street, store 2
New York, NY 10023
All information on this website including information about a property for sale, rental or financing has been obtained by Evans from sources which Evans deems reputable and reliable. All guides, reference materials, mortgage and closing cost calculators, etc, presented herein are for your reference only and are approximate. No representations are made as to the accuracy of such information, and such information is subject to errors, omission, change of price, rental, commission, prior sale, lease or financing, or withdrawal without notice, as such information has been provided by independent third parties who are solely responsible for its content. Exact closing costs and mortgage information can be obtained from your mortgage representative and/or attorney. All square footage and dimensions presented herein are approximate. Exact dimensions can be obtained by retaining the services of a professional architect or engineer. Privacy statement | Terms of use