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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.

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 InsuranceVariable
Mortgage Title Insurance$130 per $100k borrowed (approx)
Tax Escrow2 – 6 months
Recording Fees$250 – $750
Municipal Search$350 – $500
Common Charge AdjustmentPro-rated up to one month
Real Estate Tax AdjustmentPro-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%

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 AdjustmentPro-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%

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