LuxuryLoft.com

Closing Costs for Sellers


For Condominiums:
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Broker: 6% of the selling price
Seller’s Attorney: $ 1,500 - $ 5,000 +
Managing Agent fee: $ 450.00 +
Move-out deposit: $ 500 – 1,000.00 (sometimes re-funded)
New York City Transfer Tax: 1% of selling price up to $ 500,000.00 And 1.425% of price over $ 500,001.00 (Paid by the seller unless the seller is a sponsor or developer). compare prices
New York State Transfer Tax: 0.4% (paid by seller, unless the seller is a sponsor or developer)
Miscellaneous Title fees: $ 100.00
Payoff Bank Attorney: $ 300.00

For Co-operatives
Broker: 6% of the Selling price
Seller’s Attorney: $ 1,250 - $ 5,000 +
Co-op Attorney: $ 450.00
Flip Tax: Varies from building to building (1% -3% of the selling price) paid to the building usually to beef up their cash reserves.
Stock Transfer Tax: $ 0.05 per share
Move-Out deposit: $ 500.00 + (sometimes re-funded)
New York City Transfer Tax: $ 1% of price up to $ 500,000.00, AND 1.425% of the selling price over $ 500,001.00 (paid by the seller, except a Sponsor.) + $ 25.00 recording fee.
New York State Transfer Tax: 0.4%
Payoff Bank Attorney: $ 300.00
UCC-3 Filing Fee: $ 20.00
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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