This closing cost guide is designed to give you the general costs associated with the purchase or sale of a cooperative, condominium or townhouse property. Please note that these are estimates and that potential buyers and sellers should consult their real estate attorney or financial advisor for specifics. Please take note we do not represent that these are the entirety of potential costs, but are only to be used as a guide. Mortgage closing cost estimates have been furnished by our affiliate, Citizens Bank.
For the Seller
For the Purchaser
Mortgage Tax - NYC (paid by borrower):
1-3 Family Home or Condo:
Mortgage Tax - Nassau & Suffolk (paid by borrower):
Exclusions
Residential
Residential
For the Seller
Residential
Commercial
Admin. Fee
Miscellaneous Condominium Charges: Vary by building
Note: For condominiums in new developments, the Purchaser will pay costs normally paid by the Seller. These include Seller attorney fees as well as NY and NYC Transfer Taxes.
For the Purchaser
NYC Mortgage Tax (paid by borrower):
Nassau and Suffolk Counties Mortgage Tax:
Peconic Bay Tax: (East Hampton, Shelter Island and Southampton):
Additional Real Estate Expenses
For the Seller
Residential
Commercial
Admin. Fee
Miscellaneous Coop Charges: Vary by building
For the Purchaser
Additional Real Estate Expenses
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