Estimate of Closing Costs to Purchaser for Residential Co-ops

  • Your attorney’s fee: $1,500 and up
  • Bank fees:
    • Points: 0 – 3%
    • Mortgage application, credit report and appraisal: $750
    • Bank attorney fee: $500+
    • Short-term interest from date of closing to end of month
    • Bank attorney: $500+
    • UCC Search and UCC1 filing: $450
  • Mansion tax: 1% of purchase price when price exceeds $1 million
  • Co-op fees:
    • Application fee(s) to co-op board and/or managing agent: $550+
    • Move-in fee and/or deposit: (may be refundable) $500-$1500
    • Lead-based paint disclosure fee: $50
    • Managing agent and/or co-op attorney closing fees: $750
    • Recognition Agreement review fee: $250
  • Purchases from a sponsor:
    • Sponsor’s closing costs: (sometimes negotiable) based on sale price

Please note: All information here is based on our best knowledge. Fees are subject to fluctuation and to omissions and changes in fact. These numbers are given for purposes of estimating only. Please check this with your attorney and/or managing agent.

· Fair Housing · © 2017  The McIntosh Company