SELLERS GUIDE

TYPICAL NEW YORK CITY COOPERATIVE AND CONDOMINIUM CLOSING COSTS FOR SELLER

Typical Co-Op Closing Costs

FOR THE SELLER

Broker: Typically 6% depending upon size and marketing

Own Attorney: Consult your attorney

Co-op Attorney: $500+

Flip Tax: 1% to 3% of Price (if applicable)

Stock Transfer Tax: $0.05 per share (if applicable)

Move-out Deposit: One-time fee of $500+ (if applicable)

NYC Transfer Tax: 1% of price up to $499,999; or, 1.425% of price if $500,000 and over; plus $100 filing fee.

NY State Transfer Tax: $2 per $500 of price or 0.4% of purchase price.

Payoff Fee to Attorney: $400+

UCC-3 Filing Fee: $75+

Typical Condo Closing Costs

FOR THE SELLER

Broker: Typically 6% depending upon size and marketing

Own Attorney: Consult your attorney

Processing Fee: $450+

Move-out Deposit: One time fee of $500+ (if applicable)

NYC Transfer Tax: 1% of price up to $499,999; or, 1.425% of price if $500,000 and over; RPT filing fee $125.

NY State Transfer Tax: $2 per $500 of price, or 0.4% of purchase price.

Miscellaneous Title Fees: $200

Payoff Fee to Title Closer: $300+

Note: For condominiums in new developments, the Purchaser will pay costs normally paid by the Seller. These include Seller attorney fees as well as NY and NYC Transfer Taxes.