Ambrosetti
Townhouse
Selling
6% of purchase price
Broker Commission
$2,200 - $3,500 (on average for sales up to $1.5M)
Attorney Fee
Consideration
Less than $3,000,000
$3,000,000 or more
New York State Transfer Fee
1% of sales price if sale is $500,000 or less
1.425% of sales price if sale is greater than $500,000
Residential Transactions
If two or more units are purchased simultaneously from the same buyer, the commercial transfer tax rate applies. 1.425% of sales price if sale is $500,000 or less. 2.625% of sales price if sale is greater than $500,000
Commercial/Bulk Sale Transactions
8.97% of estimated gain paid at closing. *Unless (1.) Seller is a NY State resident at time of sale or (2.) Property was Seller's principal residence for 2 out of the last 5 years or (3.) Seller has set up a 1031 Tax-Deferred Exchange
New York State Capital Gains Tax
10% of purchase price is withheld if Seller is a non-exempt foreigner
Federal Withholding Tax (FIRPTA)
$100 per mortgage
Satisfaction of Mortgage Recording Fee
$250 per mortgage
Title Closer Pick-up Fee for Mortgage Payoff
Townhouse
Buying
Consideration
$1,000,000 - $1,999,999
$2,000,000 - $2,999,999
$3,000,000 - $4,999,999
$5,000,000 - $9,999,999
$10,000,000 - $14,999,999
$15,000,000 - $19,999,999
$20,000,000 - $24,999,999
$25,000,000 or more
Mansion Tax
$2,200 - $3,500 (on average for sales up to $1.5M)
Attorney Fee
Varies according to bank and loan product. Obtain Good Faith Estimate from Lender.
* Includes fees such as application fee, discount points, credit reports, document preparation, underwriting/post-closing review and appraisal fee
Bank Fees
$600- $1,000
Bank Attorney
$75 - $125
UCC-1 Filing Fee
Varies according to loan amount
Mortgage Title Insurance
$4 - $1,000 of purchase price
Title Insurance
1.8% if mortgage amount is less than $500,000. 1.925% if mortgage is greater than $500,000
New York State Mortgage Recording Tax
$200
Mortgage Recording Fee
$500
Title and Municipal Search Fee
$250
Deed Recording Fee
$125
Power of Attorney Recording Fee
$750 - $1,000
New Survey
The information presented above is for informational purposes only and is not intended as a comprehensive listing of all closing costs. Actual closing cost will vary depending on the specific services used, and the amounts charged are determined by the individual service providers.
Rate
1.00%
1.25%
1.50%
2.25%
3.25%
3.50%
3.75%
3.90%
Rate
0.40%
0.65%