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CLOSING COST

For Condominiums:

Attorney:

$1,500 - $4,000 +

         Bank fees (if financing):

* Points:

0 – 2% of loan value (optional)

* Credit check, application, etc:

$300.00

* Bank Attorney:

$500.00

* Short Term Interest:

Up to 1 month

* Tax Escrows:

2 to 6 months

* Bank Underwriting fees:

$ 350.00

* Appraisal Fees:

$300.00 to $750. 00

(depends on the price of the apartment)

Mortgage Tax

2.05% of loan amount on loans under $500,000.00 2.175% of loan amount on loans over $500,001.00

Mortgage Title Insurance:

Approx. $500.00 per $100,000.00

Recording Fees:

$100.00

Fee Title Insurance:

Approx. $ 675.00 per $100,000.00

Violation Search:

$170.00

Managing Agent Fee:

$250.00

Common Charge Adjustment:

1 Month’s worth

Real Estate Tax adjustment:

1 – 3 Months

Mansion Tax:

1% for Selling Prices over $1,000,000.00

For Co-operatives

Attorney:

$1,500 - $5,000 +

         Bank fees (if financing):

* Points:

0 – 2% of loan value (optional)

* Credit check, application, etc:

$300.00

* Bank Attorney:

$500.00

* Short Term Interest:

Up to 1 month

* UCC-1 Filing Fee:

$20.00

* Bank Underwriting fees:

$350.00

* Appraisal Fees:

$300.00 to $750.00

(depends on the price of the apartment)

Move-in Deposit:

$500.00

Lien Search:

$250.00

Maintenance Adjustment:

1 Month

Real Estate Tax adjustment:

1 – 3 Months

Mansion Tax:

1% for Selling Prices over $1,000,000.00

PLEASE NOTE: The above are estimates, and all information is subject to changes, omissions and errors in fact or circumstance.

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