|
Closing Costs for the Buyer
Manhattan Co Op |
| Item |
Expense |
| Attorney |
$1,600 & up* |
| Managing Agent Application Fee |
$750 |
| Credit Report Fee |
$50 - $100 per applicant |
| Lead-Based Paint Disclosure Fee |
$0 - $50 |
| Mansion Tax |
1% of purchase price when priced over $1 million |
| Move-In Deposit |
$500 - $1,000 (usually refundable if no damage) |
|
Mortgage Associated Fees |
| Origination Costs - Points |
0 - 3% value of loan |
| Application, Credit Checks, etc. |
$500 & up |
| Appraisal |
$275 & up |
| Bank Attorney |
$500 & up |
| UCC-I Filing |
$50 & up |
| Recognition Agreement Fee |
$200 & up |
| Lien Search |
$350 |
| Maintenance Adjustment |
Prorated for month of closing |
|
* 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 |
