New York
Total costs: apartments in apartment building or condominium.
For Buyers
|
|
Legal fee |
from * $ 2'500.- |
|
Managing Agent Fee |
$ 250.- / $ 500.- |
|
Credit Report Fee |
$ 50.- / $ 100.- for every request |
|
Mansion Tax |
1 % of the full price of estate if over $ 1'000'000 |
|
Move-In Deposit |
$ 500.- / $ 1'000.- (refunded, if no damage occurs) |
|
In case of mortgage loan |
|
Origination Costs |
from 1 % a 2,5 % of the loan |
|
Application, Credit Check, etc. |
from $ 500.- |
|
Appraisal |
from $ 500.- |
|
Bank's legal costs |
from $ 1'000.- |
|
Inoltro del "UCC-1" |
from $ 50.- |
|
Mortgage recording tax |
1,8 % of the loan below $ 500'000.-
1,425 % of the loan over $ 500'000.- |
|
Title insurance, Title Search & Recording Fees |
circa 0,5 % of purchase price |
|
Building Searches |
$ 200.- / $ 400.- |
|
Registration cost per page |
$ 17.- per document plus $ 5.- |
|
New development from sponsor without Board approval: |
|
NYC Real Property Transfer Tax |
1 % of purchase price below $ 500'000.-
1,425 % of purchase price over $ 500'000.- |
|
NYS Transfer (purchase) Tax |
$ 4.- every $ 1'000 of purchase price |
|
Law firm and realtor's fee |
$ 1'500.- |
|
For sellers
|
|
Legal fee |
from * $ 2'500.- |
|
NYC Real Property Transfer Tax |
1 % of purchase price below $ 500'000.-
1,425 % of purchase price over $ 500'000.-
|
|
NYS Transfer Tax |
0,4% (.004) of purchase price |
|
Bank's legal costs (if imposed) |
$ 200.- * |
|
Condominial expenses |
$ 400.- / $ 1'000.- |
|
Move-Out Deposit |
$ 500.-- / $ 1'000.- (refunded, if no damage occurs) |
|
Intermediary fee (brokerage) |
6 % of purchase price |
|
RE Tax (ACRIS) forwarding expenses |
$ 50.- |
|
Gains Tax Withholding (for non-NYS residents) |
7,7 % of profit |
|
Non-US Resident (FIRPTA) |
10 % of purchase price or holdback pay |
|
* check with your bank credit/account assistant whether there will be any further expenses. Non NYS residents should get relief from the termination tax by forwarding the TP584 form. These figures are approximate, only for estimation. Please check the real costs of every transaction and service with your legal or mortgage agents. |