| Attorney |
$1,600 & up* |
| Stock Transfer Stamps |
$.05 per share |
| NYC Real Property Transfer Tax |
Sales under $500,000 will be 1% of price and Sales over $500,000 will be 1.425%. |
| NY State Transfer Tax |
0.4% of Purchase Price. |
| Flip Tax (if applicable) |
Determined by co-operative building |
| Payoff Bank Attorney (if applicable) |
$450 & up |
| Managing Agent Fee |
$500 - $750 |
| Move-Out Deposit |
$500 - $1,000 usually refundable if there is no damage |
| Broker Commission |
6% of Purchase Price |
| Estate Fees |
Varies, Co-op may impose additional fees for estate sales |
| Lost Stock and Lease Fees |
$250 - $750 |
| eTax Filing Fee(ACRIS) |
$50 |
| Gains Tax Withholding (This refers to Out of State Seller) |
7.7% of Gain |
| Non-United States Resident (FIRPTA) |
10% of Price withheld or paid. |
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* Check with bank/mortgage broker for additional fees .
New York State Law requires a written letter of engagement if the legal fee will exceed $3,000. Non New York State residents should procure exemption for state transfer tax forms (TP584) . These are only estimates. Please confirm closing costs for specific transactions with your attorney and/or mortgage representative.
Revised 12/09 |
