Buyer Closing Costs for Co-ops
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Buyer Closing Costs: |
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| Co-operative Apartments | |
| Own Attorney | varies* |
| Managing Agent (Recognition Agreement Fee) | $250 + up |
| Credit Report Fee | $50 + up per applicant |
| Mansion Tax | 1% of purchase price when over $1 million |
| Move-in Deposit | $500 + up (usually refundable if no damage) |
| Lien Search | $250 - $350 |
| Mortgage Associated Fees: | |
| Origination Costs - points | 0 - 3% value of loan |
| Application, Credit Check, etc. | $500 + up |
| Appraisal | $275 + up |
| Bank Attorney | $600 + up |
| UCC-1 Filing | $75 + up |
| Maintenance Adjustment | Prorated for month of closing |
