Coop Closing Costs
SELLER COSTS & FEES
Own attorney
Cost varies.
Stock Transfer Stamps
1% of purchase price if $500,000 or less. 1.425% of purchase price if more than $500,000
NYC Real Property Transfer Tax
0.4% of purchase price
NYS Transfer Tax
Determined by condominium board, payable by buyer unless otherwise stated
UCC-3 Filing
$100 and up
Flip Tax (if applicable)
$650 and up
Payoff Bank Fees (if applicable)
$500 & up (usually refundable if no damage)
Managing Agent Fees*
6% of purchase price
Move-Out Deposit*
$100
Broker Commission
5-6%
Estate Fees
8.82% of taxable gain on sale.
Lost Stock and Lease Fees
Buyer to withhold 10% of purchase price
BUYER COSTS & FEES
Own attorney
Cost varies.
Building Management Agent Fee
$500 and up
Move-InDeposit*
$500 & up (usually refundable if no damage)
Mansion tax
-From $2M to less than $3M: 1.25%
-From 3M to less than $5M: 1.5%
-From $5M to less than $10M: 2.25%
-From $10M to less than $15M: 3.25%
-From $15M to less than $20M: 3.5%
-From $20M to less than $25M: 3.75%
-From $25M or more: 3.9%
Lien Search
$350
Maintenance Adjustment
Pro-rated for month of closing
ADDITIONAL COSTS FOR MORTGAGES
Origination Costs-points
0-3% value of loan
Application, Credit Check, etc
$500 and up
Appraisal
$425 and up
Bank Attorney
$600 and up
UCC-1 Filling
$75 and up
