Seller Closing Costs for Co-Ops
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Seller Closing Costs:
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| Co-operative Apartments |
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| Own Attorney |
varies* |
| Stock Transfer Stamps |
$.05 per share |
| NYC Real Property Transfer Tax |
1% of purchase price if $500,000 or less of the entire amount |
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1.425% of purchase price if over $500,000 of the entire amount |
| NYS Transfer Tax |
.4% (.004) of purchase price |
| UCC-3 Filing |
$75 - $125 |
| Flip Tax (if applicable) |
Determined by co-operative building |
| Payoff Bank Attorney (if applicable) |
$600 - $1,000 |
| Managing Agent Fee |
$500 + up |
| Move-Out Deposit |
$500 - $1,000 (usually refundable if no damage) |
| Broker Commission |
6% of purchase price |
| Estate Fees |
Co-op may impose additional fees for estate sales |
| Lost Stock and Lease Fees |
$250 + up |
| E Tax Filing (ACRIS) |
$50 + up |
| NYS capital Gains Tax Withholding (out of state seller) |
6.85% of estimated gain |
| Non-US Resident (FIRPTA) |
10% of purchase price withheld or paid |
Patrick Lilly Group
The Corcoran Group Real Estate
490 Broadway
New York
NY
10012
© 2003 – 2010 Real Pro Systems, LLC
Last modified 7/31/2010