Sellers
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Closing Costs for Co-Ops
| Attorney |
$1,600 & up* |
| Stock Transfer Stamps |
$.05 per share |
| NYC RPT Tax |
1% of price up to $500,000 plus $50 filing fee, and 1.425% of price over $500,000 |
| NYC Transfer Tax |
$4 per $1,000 of sale price |
| UCC-3 Filing |
$75 & up |
| Flip Tax (if applicable) |
Determined by co-op building |
| Payoff Bank Fees (if applicable) |
$300 & up |
| Managing Agent Fee |
$500 - $750 |
| Move-Out Deposit |
$500 - $1,000 (usually refendable if no damage) |
| Broker Commission |
6-8% |
| Estate Fees |
Co-op may impose additional fees for estate sales |
| Lost Stock and Lease Fees |
$250 - $750 |
* Check with bank/mortgage broker for additional fees.
New York Law requires a written letter of engagement if the legal fee will exceed $3,000. Non-New York State residents should procure exemption for state transfer tax forms (TP584). These costs are provided only as estimates. Please confirm closing costs for specific transactions with your attorney.
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