| FOR THE SELLER: |
| Broker |
Typically 6%, depending on size and marketing |
| Own Attorney |
$1,500 and up |
| Managing Agent |
$450 |
| Flip Tax (if any) |
Consult Managing Agent |
| Stock Transfer Tax |
.05 per share |
| Move-Out Deposit or Fee |
$1,000 |
| New York City Transfer Tax |
1% of price up to $500,000. 1.425% of entire price when exceeds
$500,000 |
| New York State Transfer Tax |
0.4% (.004) of price |
| Payoff Bank Attorney (if Seller has mortgage) |
$350 |
| UCC-3 Filing Fee (if seller has mortgage) |
$30 |
| FOR PURCHASER: |
| Own Attorney |
$1,500 and up |
| Bank Fees: applications, credit, appraisal, bank attorney and misc. |
$1,600 |
| Short-Term Interest |
one month max* |
| Move-In Deposit or Fee |
$1,000 |
| Managing Agent or Co-op Attorney |
$600 |
| Lien Search |
$300 |
| Maintenance Adjustment |
one month tax* |
| Mansion Tax |
1% of entire price only when price exceeds $1,000,000 |
| *Prorated for month of closing |
| FOR SELLER: |
| Broker |
Typically 6%, depending on size and marketing |
| Own Attorney |
$1,500 and up |
| Managing Agent |
$450 |
| Move-Out Deposit or Fee |
$1,000 |
| New York City Transfer Tax |
1% of price up to $500,000. 1.425% of entire price when exceeds
$500,000 |
| New York State Transfer Tax |
0.4% (.004) of price |
| Misc. Title Company Fees (if Seller has mortgage) |
$200 |
| FOR PURCHASER: |
| Own Attorney |
$1,500 and up |
| Bank Fees: application, credit, appraisal, bank attorney and misc. |
$1,600 |
| Short-Term Interest |
one month max* |
| Real Estate Tax escrow |
2-6 months** |
| Recording Fees |
$200 |
| Mortgage Tax |
1.75% of amount of mortgage on loans under $500,000 or
1.875% of entire amount on loans over $500,000 |
| Fee Title Insurance |
Approx. $450 per $100,000 |
| Mortgage Title Insurance |
Approx. $200 per $100,000 |
| Misc. title Charges |
$300 |
| Managing Agent's Fee |
$250 |
| Adjustments: |
| Common charges |
One month max* |
| Real Estate Taxes |
1 to 6 months** |
| Mansion Tax |
1% of entire price when price exceeds $1,000,000 |
| *Prorated for month of closing |
| **expect to pay eight months Real Estate Taxes-combined between Seller as an adjustment
and escrow established by lender. |
| Note: When purchasing a condominium unit from a Sponsor, the Purchaser will be
required to pay New York City and New York State Transfer Taxes (See "A" above
for amounts) as well as the Sponsor's attorney's fee (typically around $1,000). |
| FOR SELLER: |
| Broker |
Typically 6%, depending on size and marketing |
| Own Attorney |
$5,000 |
| New York City Transfer Tax |
1.425% of price up to $500,000
2.625% of entire price when it exceeds $500,000 |
| New York State Transfer Tax |
0.4% (.004) of price |
| Payoff Bank Attorney (if Seller has mortgage) |
$350 |
| Miscellaneous |
$200 |
| Transfer Security Deposit |
T.B.D. |
| FOR PURCHASER: |
| Own Attorney |
$5,000 and up |
| Bank Fees: |
| Points |
2% |
| Application, credit, appraisal, bank attorney and miscellaneous |
$5,000-$10,000 |
| Short-Term Interest |
one month max* |
| Mortgage Tax |
2.75% of entire amount on loans over $500,000 |
| Real Estate Tax Escrows |
2-6 months |
| Fee Title Insurance |
Approx. $450 per $100,000 |
| Mortgage Title Insurance |
Approx. $200 per $100,000 |
| Miscellaneous Title Charges |
$1,000 |
| Adjustments: |
| Rents* |
T.B.D. |
| Real Estate Taxes |
1-6 months |
| *Prorated for month of closing |
