FREE CLOSING ESTIMATE

No matter what your situation is we are here to help. As part of the service provided by Robert Aronov & Associates, PC is a free closing estimate, you can get an idea of what your closing cost will be by a short overview listed below, but every transaction is unique, depending on a county, contract of sale provision, providers selected, lenders and the way the transaction is structured.

One of our staff members will assist you with a free closing estimate with no further obligation either via phone or email.

Please contact us for a free closing estimate at 718-206-1555

Coop/Sellers Typical Closing Costs

Broker 2-6% of the price

Seller’s Lawyer $750 to $5000

Co-op Lawyer or Managing Agent $350 - $750

Flip Tax 1%-4% of purchase price

Stock Transfer Tax $.05 per share

Move-Out Deposit $500 - $1,000 refundable

NYC Transfer Tax 1% of gross purchase price if $500,000 or under; 1.425% of gross purchase price if over $500,000

NYS Transfer Tax .4% ($2 per $500) of gross purchase price

Payoff Bank Lawyer $450 -$1200

UCC Fling Fees $75-$125

ACRIS $150-$300

Coops/Purchaser:

Purchaser’s Lawyer $750 to $5000 typically

Lien Search $250-$350

Co-op Lawyer or Managing Agent $500 - $1,000

Mansion Tax 1% of purchase price if purchase price exceeds $1,000,000

Financing/Bank fees

Application, Credit and Appraisal $400-$1500

Bank Lawyer $500-$1200

Points 0-4% of loan

UCC Filing Fees $100-$125

Interest up to one month

CONDO/HOUSES SELLER

Broker 2-6%

Seller’s Lawyer $750 to $5000

Managing Agent Fee $350 - $1000 only for condos

Move-Out Deposit -refundable $500 - $1,000 only for condos

NYC Transfer Tax 1% of gross purchase price if $500,000 or under;

1.425% of gross purchase price if over $500,000

NYS Transfer Tax .4% ($2 per $500) of gross purchase price

Recording Fees    $150-$500

Payoff Bank Lawyer   $350 - $1000

CONDO/HOUSES/PURCHASER

Title Insurance Approx. $675 per 100,000 of purchase price

Buyer’s Lawyer $750-$5000

Recording Fees $300-$500

Mansion Tax 1% of purchase price when purchase price exceeds $1,000,000

Condo Fees
Managing Agent Fee $400-$1500

Common Charges Adjustment Up to one month

Working Capital Fund Adjustment Up to one month

Move-in Deposit $500-$1000 refundable

Bank fees

Mortgage Recording Tax 2.05% of amount of mortgage on loans under $500,000; 2.175% of amount of mortgage on loans over $500,000 (lender pays 0.25% of recording tax)

Mortgage Title Insurance Approx. $500 per $100,000 of mortgage amount

Application, Credit and Appraisal $500-$1500

Bank Lawyer $550-$1500

Points 0-4% of loan
Interest up to one month

Bank Escrow 2-6 months of real estate taxes

SAMPLE CLOSING COST ONLY - CONSULT AN ATTORNEY FOR AN OFFICIAL ESTIMATE.