Seller Closing Costs for Condominiums / Townhouses
|
Seller Closing Costs:
|
|
| Condominium Apartments / Townhouses |
|
| |
|
| Own Attorney |
varies* |
| NYC Real Property Transfer Tax |
1% of purchase price if $500,000 or less |
|
1.425% of purchase price if over $500,000 |
| NYS Transfer Tax |
.4% (.004) of purchase price |
| Reserve Fund Contribution (if applicable) |
Determined by condominium board payable by buyer or seller as specified |
| Payoff Bank Fees (if applicable) |
$250 + up |
| Managing Agent Fee |
$250 + up |
| Move-Out Deposit |
$500 + up (usually refundable if no damage) |
| Broker Commission |
6% of purchase price |
| E Tax Filing (ACRIS) |
$50 - $200 |
| NYS Capital Gains Tax Withholding |
7.7% of gain |
| Non-US Resident (FIRPTA) |
6.85% of estimated gain |
|
|
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