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Closing Costs Single Family Homes

SINGLE FAMILY HOMES AND TOWNHOUSES
Closing Costs

For the Seller
Broker: Typically 6%
Own Attorney: Consult your attorney
NYC Transfer Tax:
Residential:
Up to $500,000 = 1%
$500,000+ = 1.425%
Commercial:
Up to $500,000 = 1.425%
$500,000+ = 2.625%
Admin. Fee:
Residential Deed Transfers= $75
Commercial Deed Transfers = $165
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

For the Purchaser
MORTGAGE CLOSING COSTS
Buyer's Attorney: Consult your attorney
Bank Fees: $750
Application Fee: $350
Processing Fee: $330
Appraisal Fee: $300-$1,500 (depending on sales price)
Credit Report Fee: $10.10 single/$15.20 joint
Bank Attorney: $650-$750
Tax Escrows: 2 to 6 months
Recording Fees: $250-$750
Fee Title Insurance: Approx. $450 per $100,000 of sales price under 1M, +15% on $1M or more
Mortgage Title Insurance: Approx. $130 per $100,000 of mortgage amount
Municipal Search: $350-$500
Mortgage Tax - NYC (paid by borrower):
1-3 Family Home or Condo:
If mortgage is less than $500,000: 1.80%. If mortgage is $500,00 or more: 1.925% of loan amount

Gold Key Realty of NY LLC
Miller Place, NY 11764
Phone: (631) 764-2913
Email: larrylederer@goldkeyrealtyny.com
 
 
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Gold Key Realty OF NY LLC
4 Queens Road Miller Place, NY 11764 US
Phone: 631-769-1615 Website: www.goldkeyrealtyny.com