CLOSING COSTS                            COOPERATIVES                        CONDOS / TOWNHOUSES

Sellers Attorney:                                                  $2,500 and up.                                                 $2,500 and up.

Managing Agent Fee:                                          $450 and up.                                                    $450 and up.

Co-Op Attorney:                                                  $450 and up.  

Application / Waiver Fee:                                                                                                              $500 - $1,000

Flip Tax (if applicable):                                        Varies

Stock Transfer Tax:                                              $0.05 per share

Move-Out Fee:                                                     $250 - $1,000                                                  $1,000

NYC Real Property Transfer Tax:                       1% of purchase price up to $500,000; 1.425% of entire purchase where price exceeds $500,000 and $75 - $100 administrative fee

New York State Transfer Fee:                            0.4% (.004) of price. Non-New York State residents may be able to procure an exemption for state transfer.

New York State Capital Gains Tax:                    8.97% of estimated gain paid at closing unless: (A) The seller is a NY State resident at time of sale or (B) The Capital Gains Tax property was the seller’s principal residence for 2 out of the last 5 years or (C) The seller has set up a 1031 Tax-Deferred Exchange.

Miscellaneous Title Company Fees:                                                                                             $200 (if Seller has mortgage)

Payoff Bank Attorney:                                         $400 and up.                                                    $450 and up

Federal Withholding Tax (FIRPTA):                   10% of purchase price is withheld is seller is a non-exempt foreigner.

Pick-up Fees for Mortgage Payoffs:                                                                                            $200 per mortgage

UCC-3 Filing Fee:                                                 $100 and up.

Broker Commission:                                            5% - 6%                                                            5% - 6%