Buyer Closing Costs -
Buyer Closing Costs -
Buyer Closing Costs -
Buyer Closing Costs -
Buyer Closing Costs
A Guide to Buying
This closing cost guide is designed to provide the general costs associated with a condo & co-op purchase respectively. Please note that these are estimates and that potential buyers should consult with their real estate attorney or financial advisor for specifics. Please take we do not represent that these are the entirety of potential costs, but are to be used as a guide.
Buy Condominium
| Attorney | $1,500 – $5,000+ |
| Application Fee | $350 – $650 |
| Processing Fees | $330 – $500 |
| Bank Fees | $500 – $1,000 |
| Bank Attorney | $650 – $750 |
| Credit Report Fee | $45 – $100+ |
| Appraisal Fee | $500 – $2,000 |
| Title Insurance | Variable |
| Mortgage Title Insurance | $130 per $100k borrowed (approx) |
| Tax Escrow | 2 – 6 months |
| Recording Fees | $250 – $750 |
| Municipal Search | $350 – $500 |
| Common Charge Adjustment | Pro-rated up to one month |
| Real Estate Tax Adjustment | Pro-rated up to 3 months |
| Mansion Tax (% of purchase price) | $1M – $2M – 1% $2M – $3M – 1.25% $3M – $5M – 1.50% $10M – $15M – 3.25% $15M– $20M – 3.75% $20M – $25M – 3.75% $25M+ – 3.90% |
Buy Cooperative
| Attorney | $1,500 – $5,000+ |
| Bank Fees | $550 – $1,000 |
| Bank Attorney | $650 – $750 |
| Credit Report Fee | $45 – $100+ |
| Appraisal Fee | $500 – $2,000 |
| UCC-1 Filing Fee | $250 – $350 |
| Maintenance Adjustment | Pro-rated up to 1 month |
| Mansion Tax | $1M – $2M – 1% $2M – $3M – 1.25% $3M – $5M – 1.50% $10M – $15M – 3.25% $15M– $20M – 3.75% $20M – $25M – 3.75% $25M+ – 3.90% |