TYPICAL NEW YORK CITY COOPERATIVE AND CONDOMINIUM CLOSING COSTS FOR PURCHASER
| Typical Co-Op Closing Costs | Typical Condo Closing Costs |
| FOR THE PURCHASER | FOR THE PURCHASER |
| Own Attorney: Consult your attorney | Own Attorney: Consult your attorney |
| Bank Fees: Points: 0% to 3% of loan value | Bank Fees: Points: 0% to 3% of loan value |
| Application Fee: $500+ (Credit Report, etc) | Application Fee: $500+ (Credit Report, Appraisal) |
| Bank Attorney: $750+ | Bank Attorney: $750+ |
| Miscellaneous Bank Fees: $500+ | Tax Escrows: Two to six months |
| Lien Search: $350 | Appraisal Fee: $300+ |
| UCC-1 Filing: $75+ | Recording Fees: $400+ |
| Maintenance Adjustment: Monthly carrying costs, maintenance, and assessments, if any, are pro-rated depending on when the closing is held. | Mortgage Tax: 1.80% of amount of mortgage on loans up to $499,999; or, 1.925% of amount of mortgage on loans of $500,000 and over |
| Application Fee: $500+ (Credit Report/Appraisal) | Short Term Interest: Equal to interest for balance of month in which you close |
| Short Term Interest: Equal to interest for balance of month in which you close | Fee Title Insurance: Approx. $450 per $100,000 of purchase price |
| Move-in Deposit: One time fee of $500+ (if applicable) | Mortgage Title Insurance: Approx. $200 per $100,000 of mortgage amount |
| Recognition Agreement Fee: $250+ | Municipal Search: $400+ |
| Appraisal Fee: $300+ | Managing Agent Fee: $250+ |
| Mansion Tax: 1% of entire purchase price where price is $1,000,000 or more. | Common Charge Adjustment: Monthly carrying costs, common charges, real estate taxes, and assessments, if any, are pro-rated depending on when the closing is held |
| Real Estate Tax Adjustment: One to six months | |
| Mansion Tax: 1% of entire purchase price where price is $1,000,000 or more. | |
| Move-in Deposit: One time fee of $500+ | |
| Title Closer: $250 |