Closings Costs Guide

Condominiums

FEE	ESTIMATED COST	APPROXIMATE COST
Your Attorney	0–3% of loan value	$
Points	$1,500–$3,000	$
Bank Application, Credit Check, etc.	$400–$600	$
Bank Attorney	$500–$1,500	$
Board Package Processing Fee	$500–$2,000	$
Appraisal	$300–$1,500	$
Tax Escrow	2–6 months of taxes	$
Move-in Deposit	$500–$2,000 (refundable)	$
Recording Fees	$1,500–$3,000	$
Mortgage Tax (less than $500,000)	1.80%	$
Mortgage Tax ($500,000+ on 1–3 family dwellings)	1.925%	$
Mortgage Tax (all other property types over $500,000)	2.80%	$
Title Insurance	0.5%–0.8% depending upon the purchase price	$
Violation Search	$400–$500	$
Common Charges Adjustment	Pro-rated during for the month of closing	$
Real Estate Tax Adjustment	Pro-rated during for the month of closing	$
Mansion Tax	Pro-rated amount depends on when the tax is collected	$
Common Charges Adjustment	1% of price for all sales over $1,000,000	$
Title Fee Closer	$100–500

FEE	ESTIMATED COST	APPROXIMATE COST
Your Attorney	$1,500–$3,000	$
Points	0%–3%	$
Bank Application, Credit Check, etc.	$400–$600	$
Bank Attorney	$500–$800	$
UCC 1 Filing	$75	$
Board Package Processing Fees	$500–$2,000	$
Appraisal	$300—$1,500	$
Move-in Fee	$250—$500	$
Move-in Deposit	$500–$1,000	$
Recognition Agreement Fee	$200—$300	$
Lien Search Fee	$200—$300	$
Maintenance Adjustment	Pro-rated for the month of closing.	$
Mansion Tax	1% of price for all sales over $1,000,000	$
Miscellaneous Co-op Charges	Varies by building. Consult the cooperative’s Transfer Agent & Board Package.	$

FEE	ESTIMATED COST	APPROXIMATE COST
Your Attorney	$1,500–$3,000	$
Points	0%–3% of loan value	$
Bank Loan Application Fees	$400–$600	$
Appraisal	$300–$1,500	$
Bank Attorney	$500–$1,500	$
Tax Escrow	Typically 2–6 months of property taxes	$
Mortgage Title Insurance	0.5%–0.8% depending on the purchase price	$
Real Estate Tax Adjustment	Pro-rated amount depends on when the tax is collected	$
Mansion Tax	1% of price for all sales over $1,000,000	$
Recording Fees	$200—$800	$
Municipal Search	$350—$500	$
Mortgage Tax < $500,000	1.80%	$
Mortgage Tax > $500,000	1.925%	$
Miscellaneous Title Fees	$200–$500	$
Pick-up / Payof Fee to Title Closer	$100–$300	$