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CHRIS PASQUALE

(917) 414-2720

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641 LEXINGTON AVE
NEW YORK NY 10022

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Selling 101

Everything you need to know about putting your home on the market, accepting an offer, and closing on your home.

Selling your home has tremendous financial implications. Owning a home typically is an individual’s single largest investment, so it is critical to be well represented when selling. You should expect professionalism, superior customer service, market knowledge, honesty and integrity from your real estate agent. All R New York, LLC agents strive to provide you with an experience which exceeds your expectations. The following steps will help make selling your home as effective and efficient as possible.

Co-op Closing Costs

The following guide will give you general closing costs associated with the purchase or sale of a cooperative. Please note that these are estimates and that potential buyers and sellers should consult their real estate attorney and financial advisor for specifics. We do not represent that these cover the spectrum of potential costs, but rather is a general guide.

For the Seller

Broker
Typically 6% depending upon size and marketing
Own Attorney
Consult your attorney
Co-op Attorney
$500+
Flip Tax
1% to 3% of Price (if applicable)
Stock Transfer Tax
$0.05 per share (if applicable)
Move-out Deposit
One time fee of $500+
NYC Transfer Tax
$2 per $500 of price, or 0.4% of purchase price
Payoff Fee to Attorney
$400+
UCC-3 Filing Free:
$75


Disclosure: All fees are approximate. You should consult a CPA or attorney for a more accurate estimate.

For the Purchaser

Broker
Typically 6% depending upon size and marketing
Own Attorney
Consult your attorney
Processing Fee
$450+
Move-out Deposit
One-time fee of $500+
NYC Transfer Tax
1% of price up to $500,00; or, 1.425% of price if $500,000 and over; RPT filing fee $125
NY State Transfer Tax
$2 per $500 of price, or 0.4% of purchase price
Miscellaneous Title Fees
$200
Payoff Fee to Title Closer
$300+
Note: For condominiums in new developments, the Purchaser will pay costs normally paid by the Seller. These include Seller attorney fees as well as NY and NYC Transfer Taxes.


Disclosure: All fees are approximate. You should consult a CPA or attorney for a more accurate estimate.

Condominium Closing Costs

The following guide will give you general closing costs associated with the purchase or sale of a condominium. Please note that these are estimates and that potential buyers and sellers should consult their real estate attorney and financial advisor for specifics. We do not represent that these cover the spectrum of potential costs, but rather is a general guide.

For the Seller

Own Attorney
Consult your attorney
Own Attorney
Consult your attorney
Bank Fees+
Points: 0% to 3% of loan value Application, credit check, etc.: $500
Bank Attorney
$750+
Miscellaneous Bank Fees
$500+
Lien Search
$300
UCC-1 Filing
$75+
Appraisal Fee
$300+
Short Term Interest
Equal to interest for balance of month in which you close
Move-in Deposit
One time fee of $500+
Recognition Agreement Fee
$250+
Maintenance Adjustment
Monthly carrying costs, maintenance, and assessments, if any, are pro-rated depending on when the closing is held
Mansion Tax
1% of entire purchase price where price is $1,000,000 or more.
Note: For condominiums in new developments, the Purchaser will pay costs normally paid by the Seller. These include Seller attorney fees as well as NY and NYC Transfer Taxes.


Disclosure: Disclosure: All fees are approximate. You should consult a CPA or attorney for a more accurate estimate.

For the Purchaser

Own Attorney
Consult your attorney
Bank Fees
Points: 0% to 3% of loan value
Application Fee
$500+ (Credit Report, Appraisal)
Bank Attorney
$750+
Tax Escrows
Two to six months
Appraisal Fee
$300+
Recording Fees
$400+
Mortgage Tax
1.80% of amount of mortgage on loans up to $500,00; or, 1.925% of amount of mortgage on loans of $500,000 and over
Short Term Interest
Equal to interest for balance of month in which you close
Fee Title Insurance
Approx. $450 per $100,000 of purchase price
Mortgage Title Insurance
Approx. $200 per $100,000 of mortgage amount.
Municipal Search
$400+
Managing Agent Fee
$250+
Common Charge Adjustment
Monthly carrying costs, common charges, real estate taxes, and assessments, if any, are pro-rated depending on when the closing is held.
Real Estate Tax Adjustment
One to six months
Mansion Tax
1% of entire purchase price where price is $1,000,000 or more.
Move-in Deposit
One time fee of $500+
Title Closer
$250


Disclosure: All fees are approximate. You should consult a CPA or attorney for a more accurate estimate.

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CHRIS PASQUALE

(917) 414-2720

641 LEXINGTON AVE NEW YORK NY 10022

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CHRIS PASQUALE

(917) 414-2720

641 LEXINGTON AVE NEW YORK NY 10022