Please find below a complete list of estimated costs when selling a condo, co-op, or townhouse. Actual closing costs vary for each transaction and must be verified by your real estate attorney and title company.
*NYC & NYS Transfer Taxes are paid by the purchaser in case of a new development.
| FEE | ESTIMATED COST |
|---|---|
| Broker Commission | |
| Listing Broker | Per your listing agreement |
| Seller Broker | Per your listing agreement |
| Bank | |
| Payoff Bank Fees | $300 - $1,000 |
| Attorney | |
| Your Attorney | Consult your attorney ~$2,500 - $5,000+ |
| Building | |
| Managing Agent Closing Fee | $500 - $1,000 |
| Move-out Fee | $500+ |
| Move-out Deposit | $500 - $1,500 (refundable) |
| Government | |
| Residential NYC Transfer Tax* | 1% if purchase price is < $500,000 |
| 1.425% if purchase price is > $500,000+ | |
| Progressive NY State Transfer Tax* | 0.4% for Residential transactions < $3M |
| 0.65% for Residential transactions > $3M | |
| UCC-3 Filing Fee | $125 |
| Recording & Closing | |
| Pick up/Payoff Fee to Title Closer | ~$250 - $500 |
| FEE | ESTIMATED COST |
|---|---|
| Broker Commission | |
| Listing Broker | Per your listing agreement |
| Seller Broker | Per your listing agreement |
| Bank | |
| Payoff Bank Fees | $500 - $1,000 |
| Attorney | |
| Your Attorney | Consult your attorney ~$2,500 - $5,000+ |
| Building | |
| Co-op's Attorney/Managing Agent Closing Fee | $400 - $1,000 |
| Move-out Deposit | Varies by co-op, typically $500 - $1,000 (refundable) |
| Move-out Fee | $500 - $1,500 (non-refundable) |
| Admin Fee | $250 - $1,000 |
| Flip Tax or Transfer Tax | Refer to managing agent (typically 1 - 3% of price or $ per share) |
| NY Stamp Tax | $0.05/share |
| Government | |
| Residential NYC Transfer Tax* | 1% if purchase price is < $500,000 |
| 1.425% if purchase price is > $500,000+ | |
| Progressive NY State Transfer Tax* | 0.4% for Residential transactions < $3M |
| 0.65% for Residential transactions > $3M | |
| Transfer Tax Filing Fee | $100 |
| UCC-3 Filing Fee | $125 |
| FEE | ESTIMATED COST |
|---|---|
| Broker Commission | |
| Listing Broker | Per your listing agreement |
| Seller Broker | Per your listing agreement |
| Attorney | |
| Your Attorney | Consult your attorney ~$2,500 - $5,000+ |
| Bank | |
| Payoff Bank Fees | $500 - $1,000 |
| Government | |
| Residential NYC Transfer Tax* | 1% if purchase price is < $500,000 |
| 1.425% if purchase price is > $500,000+ | |
| NY State Transfer Tax | 0.4% for Residential transactions < $3M |
| 0.65% for Residential transactions > $3M | |
| Transfer Tax Filing Fee | $100 |
| UCC-3 Filing Fee | $125 |
Compass
165 Arlington Ave.,
Jersey City, NJ 07305
Michael Baker