LuxuryLoft.com

Closing Costs For Buyers


For Condominiums:
.
Attorney: $ 1,500 - $ 5,000 +
Bank fees (if financing):
* Points: 0 – 2% of loan value (optional)
* Credit check, application, etc: $ 300.00
* Bank Attorney: $ 650.00 to $ 750.00
* Short Term Interest: Up to 1 month
* Tax Escrows: 2 to 6 months
* Bank Underwriting fees: $ 350.00
* Appraisal Fees: $ 300.00 to $ 750. 00 (depends on the price of the apartment).
Mortgage Tax 1.80% of loan amount on loans under $ 500,000.00; 1.925% of loan amount on loans over $ 500,001.00
Mortgage Title Insurance: Approx. $ 130.00 per $ 100,000.00
Recording Fees: $ 250.00 to $ 750.00
Fee Title Insurance: Approx. $ 450.00 per $ 100,000.00
Violation Search: $ 170.00
Managing Agent Fee: $ 250.00
Common Charge Adjustment: 1 Month’s worth
Real Estate Tax adjustment: 1 – 3 Months
Mansion Tax: 1% for Selling Prices over $ 1,000,000.00

For Co-operatives
Attorney: $ 1,500 - $ 5,000 +
Bank fees (if financing):
* Points: 0 – 2% of loan value (optional)
* Credit check, application, etc: $ 300.00
* Bank Attorney: $ 650.00 to $ 750.00
* Short Term Interest: Up to 1 month.
* UCC-1 Filing Fee: $20.00
* Bank Underwriting fees: $ 350.00
* Appraisal Fees: $ 300.00 to $ 750.00 (depends on the price of the apartment)
Move-in Deposit: $ 500.00
Lien Search: $ 250.00
Maintenance Adjustment: 1 Month
Real Estate Tax adjustment: 1 – 3 Months
Mansion Tax: 1% for Selling Prices over $ 1,000,000.00
PLEASE NOTE: The above are estimates, and all information is subject to changes, omissions and errors in fact or circumstance.
Prudential Douglas Elliman
All information regarding a property for sale, rental or financing is from sources deemed reliable. No representation is made as to the accuracy thereof, and such information is subject to errors, omission, change of price, rental, commission, prior sale, lease or financing, or withdrawal without notice. All square footage and dimensions are approximate. Exact dimensions can be obtained by retaining the services of a professional architect or engineer.

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