closing cost estimates for the seller
Consult your attorney: $2,500—$5,000+
Payoff Bank Fees: $500—$1,000
Co-op's Attorney/Managing Agent Closing Fee: $400—$1,000
Move-out Fee: $500—$1,500 (non-refundable)
Move-out Deposit: varies by co-op, typically $500—$1,000 (refundable)
Admin Fee: $250—$1,000
Flip Tax or Transfer Tax: refer to managing agent
Residential NYC Transfer Tax:
1% if purchase price is < $500,000
1.425% if purchase price is > $500,000+
Progressive NY State Transfer Tax:
0.4% for Residential transactions < $3M
0.65% for Residential transactions > $3M
Transfer Tax Filing Fee: $125
UCC-3 Filing Fee: $125
Listing Broker: Per your listing agreement
Seller Broker: Per your listing agreement
*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.