February 5, 2012
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Closing costs

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Closing Costs For The Purchaser of Condominium or Townhouse

Attorney: $2000 and up
Bank Fees:  
- Points 0 to 3%
- Application / Appraisal $500-$600
- Bank Attorney $450 and up
Recording Fees: up to $350
Mortgage Tax: 1.75% of amount of mortgage on loans under $500K or 1.875% of amount of mortgage on loans over $500K.
Fee Title Insurance: ~ $675 per $100,000
Title Insurance: ~ $500 per $100,000
Violation Search: $170
Managing Agent Fee: $300 and up
Short Term Interest: up to one month
Common Charges: up to one month
Bank Escrows: 2-6 months of realestate taxes
Mansion Tax: 1% of price when price is $1,000,000 or over
Move-in Deposit: $500-$1000


Closing Costs For The Purchaser of Cooperative Apartment
Attorney: $2000 and up
Bank Fees:  
- Points 0 to 3%
- Application/Appraisal $500-$600
- Bank Attorney $450 and up
- UCC-1 filing fee $20
Managing Agent or Co-op Attorney (Recognition Agreement Fee): $200 and up
Short Term Interest: up to one month
Lien Search: $300
Mansion Tax: 1% of price when price is $1,000,000 or over
Maintenance Adjustment: up to one month
Move-in Deposit: $500-$1000

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