Closing Costs for Sellers
This is a general guideline to closing costs. Consult your attorney for complete break out of the costs.
Condominiums
For the Seller
- Own Attorney: 1600 and up Flat fee or hourly Fee Processing Fee: $450+
- NYC Transfer Tax: Up to $500,000 = 1%
- Residential: $500,000+ = 1.425%
- NY State Transfer Tax: $4 per $1,000 of price
- NYS Equalization Fee: $75
- Miscellaneous Title Fees: $200-$500
- Pick-up/Payoff Fee to Title Closer: $100-$300
Co-ops
For the Seller
- Own Attorney: 1600 and up Flat fee or hourly Fee
- Co-op Attorney: $450+
- Flip Tax: Typically 1% to 3% of price (if applicable)
- Stock Transfer Tax: $0.05 per share
- NYC Transfer Tax: Up to $500,000 = 1%
- Residential: $500,000+ = 1.425%
- NY State Transfer Tax: $4 per $1,000 of price
- NYS Equalization Fee: $75.00
- Pick-up / Payoff Fee: $250-$500
- UCC-3 Filing Fee: $100
Townhouses and Single Family Homes
For the Seller
- Own Attorney: 1600 and up Flat fee or hourly Fee
- NYC Transfer Tax: Up to $500,000 = 1%
- Residential: $500,000+ = 1.425%
- NY State Transfer Tax: $4 per $1,000 of price
- NYS Equalization Fee: $75
- Miscellaneous Title Fees: $200-$500
- Pick-up / Payoff Fee to Title Closer: $100-$300