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.