FOR THE PURCHASER

ESTIMATED COST

MY APPRX. COST

Purchaser’s Attorney

Varies. $1,500 - $2,500+

$

Building Application

$500+

$

Move-in Deposit

$500 - $1,000+ (usually refundable if no damage)

$

Title Insurance, Title Search & Recording Fees

0.6% of purchase price and up

$

Title Closer Customary Fee

$200

$

Mansion Tax

1% of total purchase price when price is $1M or more

$

Common Charges, Property Taxes & Insurance Premium

Adjustments pro-rated as of closing

$

Points - Origination Costs

0 to 3% of loan value

$

Application, Credit Check, etc.

$750+

$

Appraisal

$425+

$

Bank Attorney

$650 - $1,000+

$

Mortgage Recording Tax

1.8% for all mortgages less than $500,000 & 1.925% for all mortgages of $500,000 or more, minus $30 for townhouses

$

Real Estate Tax Escrow

0 to 6 months, depending on lender requirements

$

NYC Real Property Transfer Tax

1 – 1.425% of purchase price

$

NYS Transfer Tax (Transfer taxes are calculated and

added to purchase price (for tax purposes) and then

recalculated based on the bulked up price.)

0.4% of purchase price

$

Sponsor Attorney

$1,500+

$

Working Capital Fund Contribution

One-time fee equal to 1 or 2 months on common charges, depending on condo

$