Closing Costs Condo Purchaser Law Office of Steven Riker Attorneys New York New York

ESTIMATED CLOSING COSTS FOR
REAL ESTATE TRANSACTIONS

Condos, Townhouses & Single-Family Homes

Purchaser:

Title Insurance

approx. $500 per $100,000 of purchase price Purchaser’s Attorney

$1750 and up Recording Fees

$250-$350 Mansion Tax

1% of purchase price when purchase price is $1,000,000 or more

Additional Condo Fees

Managing Agent Fee

$250 - $750 Common Charges Adjustment

Up to one month Working Capital Fund Adjustment

Up to one month Move-in Deposit

$500-$1000 (usually refundable if no damage)

Additional Bank Fees (if financing)

Mortgage Recording Tax

1.8 % of mortgage on loans under $500,000; 1.925 % of mortgage on loans $500,000 or more (in addition, lender separately pays 0.25% of recording tax) Application, Credit and Appraisal

$500-$1,000 Bank Attorney

$550-$950 Points

0-3% of loan Short Term Interest

up to one month Bank Escrow

2-6 months of real estate taxes

The Law Office of Steven Riker
110 East 59th Street, 23rd Floor
New York, NY 10022
Office: (212) 661-6410
Fax: (212) 994-2146
Email: SR@stevenrikerlaw.com

Email

The Law Office of Steven Riker, in New York City, represents clients throughout the New York metropolitan area, including the Bronx, Brooklyn, Manhattan, Queens, Yonkers, New Rochelle, Staten Island, Long Island, New York County, Westchester County, Bronx County, and Kings County.

ESTIMATED CLOSING COSTS FORREAL ESTATE TRANSACTIONS

The Law Office of Steven Riker, in New York City, represents clients throughout the New York metropolitan area, including the Bronx, Brooklyn, Manhattan, Queens, Yonkers, New Rochelle, Staten Island, Long Island, New York County, Westchester County, Bronx County, and Kings County.

ESTIMATED CLOSING COSTS FOR
REAL ESTATE TRANSACTIONS