Closing costs... Guide for Townhouses / Single family homes

Real Estate Agent with Town Residential
For the Seller
Broker: Typically 6%
Own Attorney: Consult your attorney
NYC Transfer Tax: $4 per $1,000 of price
Miscellaneous Title Fees: $200-$500
Pick-up / Payoff Fee to Title Closer: $100-$300
For the Purchaser
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: $9.80 single/$14.60 joint
Bank Attorney: $650
Tax Escrows: 2 to 6 months
Recording Fees: $250-$750
Mortgage Tax: 0.8%
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
Mansion Tax: 1% of entire purchase where price is $1,000,000 or more
Peconic Bay Tax: Tax applies to properties in the townships of Southampton, East Hampton, Riverhead, Southold and Shelter Island.


South Fork: 2% of purchasee price less $250K for improved land (house). 2% of purchase price less $100K for unimproved land. North Fork: 2% of purchase price less $150K for improved land. 2% of purchase price less $75K for unimproved land.

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
New York New York County

Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?


Paul Macapagal

NYC Sales Expert
Ask me a question