The Law Office of Steven Riker
Call (212) 661-6410


230 Park Avenue
Suite 2525
New York, NY 10169
Office: (212) 661-6410
Fax: (212) 661-2153



ESTIMATED CLOSING COSTS FOR
REAL ESTATE TRANSACTIONS


Condos, Townhouses & Single-Family Homes

 Purchaser:        
 

 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

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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.

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.

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