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230 Park Avenue
Suite 2525 New York, NY 10169 Office: (212) 661-6410 Fax: (212) 661-2153 |   | ESTIMATED CLOSING COSTS FOR |
Title Insurance | Approx. $675 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 exceeds $1,000,000 |
Additional Condo Fees
Managing Agent Fee | $400 and up |
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 | 2.05% of amount of mortgage on loans under $500,000; 2.175% of amount of mortgage on loans over $500,000 (lender pays 0.25% of recording tax) |
Mortgage Title Insurance | Approx. $500 per $100,000 of mortgage amount |
Application, Credit and Appraisal | $500-$700 |
Bank Attorney | $550-$850 |
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
230 Park Avenue, Suite 2525
New York, NY 10169
Office: (212) 661-6410
Fax: (212) 661-2153
| | The information you obtain at this site is not, nor is it intended to be, legal advice and is considered attorney advertising. Prior results do not guarantee a similar outcome. You should consult an attorney for individual advice regarding your own situation. Copyright © 2007The Law Office of Steven Riker. All rights reserved. You may reproduce materials available at this site for your own personal use and for non-commercial distribution. All copies must include this copyright statement. | |
