Closing Costs for Sellers

The following guide will give you general closing costs associated with the purchase or sale of a cooperative or condominium. Please note that these are estimates and that potential buyers and sellers should consult their real estate attorney or financial advisor for specifics. Importantly, we do not represent thatthese are the entirety of potential costs, but are only to be used as a guide.

Typical Estimated Closing Costs: Cooperative Apartments for the Seller

• Broker: Typically 6%
• Own Attorney: Consult your attorney
• Co-op Attorney: $450.00+
• Flip Tax: 1% to 3% of Price (if applicable)
• Stock Transfer Tax: $0.05 per share
• Move-out Deposit: One time fee of $500.00+
• NYC Transfer Tax: 1% of price up to $500,000.00; or, 1.425% of price if $500,000.00 and over.
• NY State Transfer Tax: $4.00 per $1,000.00 of price
• Payoff Fee to Title Closer: $250 - $500
• UCC-3 Filing Fee: $100.00
  

Typical Estimated Closing Costs: Condominium Apartments for the Seller

• Broker: Typically 6%
• Own Attorney: Consult your attorney
• Processing Fee: $450+
• NYC Transfer Tax: 1% of price up to $500,000; or 1.425% of price if $500,000 and over.
• NY State Transfer Tax: $4 per $1,000 of price
• Miscellaneous Title Fees: $200-$500
• Pick-up/Payoff Fee to Title Closer: $100-$300
• Miscellaneous Condominium Charges: Vary by building