closing cost estimates for the buyer
Consult your Attorney: $2,500 — $5,000+
Points: 0—3% of the loan value
Bank Application, Credit Check, etc: $400—$600
Bank Attorney: $900—$1,500
Mortgage Origination Rate: 0—3% of the loan value
UCC 1 Filing: $125
Appraisal: $300—$1,500
Board Package Processing Fees: $500—$2,000
Credit/Background Check: $125—$500 per buyer
Move-in Fee: $250—$1,000
Move-in Deposit: $500 - $1,500 (refundable)
Maintenance Adjustment: Pro-rated for the month of closing
Recognition Agreement Fee: $200—$300
Miscellaneous Co-op Charges: Varies by building. Consult the co-op’s transfer agent & board package.
Transfer Tax Filing Fee: $125
Mansion Tax:
$1M to < $2M: 1.00% $10M to < $15M: 3.25%
$2M to < $3M: 1.25% $15M to < $20M: 3.50%
$3M to < $5M: 1.50% $20M to < $25M: 3.75%
$5M to < $10M: 2.25% $25M or more: 3.90%
Buyer Agent: In 99% of deals, the seller will pay the agent commissions. If this is not the case, please refer to your Buyer’s Representation Agreement and discuss with your agent.
*The figures provided are general estimates and not guaranteed. Fees may vary based on a variety of factors. This information is provided without warranty, and you are encouraged to consult your attorney to discuss your specific situation and verify costs.
With a thoughtful understanding of each client’s needs, Ria ensures a seamless experience for both buyers and sellers, with particular expertise in townhomes, co-ops, and the board application process. Her integrity, experience, and market knowledge drive optimal results in every transaction. Clients consistently praise her professionalism and calm demeanor, along with her discretion and hands-on involvement at every stage of a deal.