Resources
Estimated Closing Costs For Sellers
| CONDOS | CO-OPS | TOWNHOUSES | |
|---|---|---|---|
| Seller's Attorney | $3,500 and up | $3,500 and up | $3,500 and up |
| Managing Agent Fee | $450 and up | $450 and up | — |
| Application / Waiver Fees | $500–$1,000 | $500–$1,000 | — |
| Move Out Deposit / Fee | $500–$1,000 | $500–$1,000 | — |
| NYC Transfer Tax Sale price up to $500K Sale price over $500K |
1% of sales price 1.425% of sales price |
1% of sales price 1.425% of sales price |
1% of sales price 1.425% of sales price |
| NYC Filing Fee | $125 | $100 | $125 |
| NYS Transfer Tax Sale price up to $3M Sale price over $3M |
0.4% of sales price 0.65% of sales price |
0.4% of sales price 0.65% of sales price |
0.4% of sales price 0.65% of sales price |
| Miscellaneous Title Fees if Seller has a mortgage |
$250 | $250 | $250 |
| Miscellaneous Fees to Bank / Attorney if Seller has a mortgage |
$750 and up | $750 and up | $750 and up |
| FIRPTA if Seller is a non-exempt foreigner or entity |
15% of sales price withheld | 15% of sales price withheld | 15% of sales price withheld |
| Broker’s Commission | Per agreement | Per agreement | Per agreement |
| Flip Tax (if applicable) | Per bylaws | Per bylaws | — |
Real estate agents affiliated with Coldwell Banker Warburg are independent contractor sales associates, not employees. ©2024 Coldwell Banker Warburg. All Rights Reserved. Coldwell Banker Warburg fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Owned by a subsidiary of Anywhere Advisors LLC.
Buyers of Sponsor/Developer units should consult the terms of the offering plan for closing costs associated with new developments and conversions.
Sale by an Estate, or purchase by a Trust, LLC or similar entity may involve additional expenses. The above closing costs do not include: a) closing adjustments between Seller(s) and Buyer(s); b) closing adjustments between Buyer(s) and Lender(s); c) if Lender(s) escrowing for real estate taxes, real estate tax escrow; d) for Seller(s), any capital gains tax that may be due.
Warburg does not provide legal or tax advice. These are only estimates and all Information shown for illustrative purposes only. Please discuss and confirm all closing costs for specific transactions with your attorney and/or financial advisor. Check with bank/mortgage broker for additional fees. REVISED AUGUST 2024.
Estimated Closing Costs For Buyers
| CONDOS | CO-OPS | TOWNHOUSES | |
|---|---|---|---|
| Buyer's Attorney | $3,500 and up | $3,500 and up | $3,500 and up |
| Home Inspection | $0 | $0 | $1,500–$3,000 |
| Managing Agent Fee | $450 and up | $450 and up | — |
| Recording Fees | $250–$1,000 | $250–$1,000 | $250–$1,000 |
| Mansion Tax $1M to $1,999,999 $2M to $2,999,999 $3M to $4,999,999 $5M to $9,999,999 $10M to $14,999,999 $15M to $19,999,999 $20M to $24,999,999 $25M |
1% of purchase price 1.25% of purchase price 1.5% of purchase price 2.25% of purchase price 3.25% of purchase price 3.5% of purchase price 3.75% of purchase price 3.9% of purchase price |
1% of purchase price 1.25% of purchase price 1.5% of purchase price 2.25% of purchase price 3.25% of purchase price 3.5% of purchase price 3.75% of purchase price 3.9% of purchase price |
1% of purchase price 1.25% of purchase price 1.5% of purchase price 2.25% of purchase price 3.25% of purchase price 3.5% of purchase price 3.75% of purchase price 3.9% of purchase price |
| Lien Searches | $750–$1,000 | $750–$1,000 | $750–$1,000 |
| Move In Fee / Deposit | $500–$1,000 | $500–$1,000 | — |
| Title Insurance | $436 per $100,000 of purchase price | — | $436 per $100,000 of purchase price |
| Survey | — | — | $1,500 |
| If Buyer is financing: | |||
| Bank Fee / Points | 0%–2.5% | 0%–2.5% | 0%–2.5% |
| Application, Credit & Appraisal, Bank Attorney |
$1,500 and up | $1,500 and up | $1,500 and up |
| Mortgage Recording Tax Loans up to $500K Loans over $500K |
1.8% of loan 1.925% of loan |
— — |
1.8% of loan 1.925% of loan |
| Mortgage Title Insurance | $364 per $100,000 of loan | — | $364 per $100,000 of loan |
Real estate agents affiliated with Coldwell Banker Warburg are independent contractor sales associates, not employees. ©2024 Coldwell Banker Warburg. All Rights Reserved. Coldwell Banker Warburg fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Owned by a subsidiary of Anywhere Advisors LLC.
Buyers of Sponsor/Developer units should consult the terms of the offering plan for closing costs associated with new developments and conversions.
Sale by an Estate, or purchase by a Trust, LLC or similar entity may involve additional expenses. The above closing costs do not include: a) closing adjustments between Seller(s) and Buyer(s); b) closing adjustments between Buyer(s) and Lender(s); c) if Lender(s) escrowing for real estate taxes, real estate tax escrow; d) for Seller(s), any capital gains tax that may be due.
Warburg does not provide legal or tax advice. These are only estimates and all Information shown for illustrative purposes only. Please discuss and confirm all closing costs for specific transactions with your attorney and/or financial advisor. Check with bank/mortgage broker for additional fees. REVISED AUGUST 2024.