CLOSING COSTS: BUYERS 

CONDOMINIUMS

Appraisal Fee: Approx. $300
Application and Processing Fees: $500 - $1000
Bank Fees: $350 - $750
Buyer's Attorney: $2,500 - $3,000
Bank Attorney: $750 - $1,000
Recording Fees: $250 - $750
Fee Title Insurance: Approx. $450 per $100,000
Mortgage Title Insurance: Approx. $200 per $100,000

Mansion Tax: 1% of Purchase Price for purchases over $1MM, 1.25% over $2MM, 1.5% over $3MM, 2.25% over $5MM, 3.25% over $10MM, 3.5% over $15MM, 3.75% over $20MM, 3.9% over $25MM
NYC Mortgage Tax: 1.8% on mortgage amount for purchases less than $500k, or 1.925% on mortgage amount for purchases more than $500k

CO-OPERATIVES

Appraisal Fee: $300
Application and Processing Fees: $500 - $1,000
Bank Fees: $350 - $750
Buyer's Attorney: $2,500 - $3,000
Bank Attorney: $750 - $1,000

Mansion Tax: 1% of Purchase Price for purchases over $1MM, 1.25% over $2MM, 1.5% over $3MM, 2.25% over $5MM, 3.25% over $10MM, 3.5% over $15MM, 3.75% over $20MM, 3.9% over $25MM
Co-op “Flip Tax” or Transfer Fee: 0-2% paid by seller or buyer depending on the building (usually paid by seller)

PLEASE NOTE: The above are estimates, and all information is subject to changes, omissions and errors in fact or circumstance.