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—$500
Move-in Deposit: $500 - $1,000 (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: Per your Buyer’s Representation Agreement, please note that in 99% of deals, the seller pays the agent commissions.
*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 careful consideration of each client's needs, Ria strives for a streamlined process to both buying, selling and renting real estate in New York City, with particular expertise in Brooklyn townhomes, Manhattan apartments and the co-op board application process. With the best resources and connections within the real estate industry, every client at every price-point receives high-touch service tailored to their needs.