Real Estate Broker 6% of sales price (varies)
Seller’s Attorney $2,000.00 and up
Managing Agent Fee $450.00- $750.00
Move-Out Deposit $500.00- $1,000.00
(usually refundable if no damage)
NYC Transfer Tax 1% of the purchase
price if the purchase price
is $500,000.00 or under;
1.425% of the purchase
price if the purchase price is
over $500,000
NYS Transfer Tax $2.00 per $500.00 of the
purchase price
Filing of Transfer Taxes Approx. $150.00
Title Fees/Recording Charges $100.00-$250.00
Please be aware that these are approximations and there may be additional fees not mentioned here, charged by the condominium board.
Table of Contents
- INTRODUCTION
- New York City – The best place in the U.S. To buy
- About New York City
- Why buy property in NYC?
- Why buy now?
- Why is buying better than renting?
- The buying process
- Choose Real Estate professional
- Set price range
- Determine how to pay
- Mortgage Prequalification
- Select price range
- Determine search criteria
- Why are you buying?
- What do you want in your new home?
- Choices
- Review and visit homes
- Search for homes
- Select home
- Offer
- Prepare and present
- Negotiate and accept
- The Legal Stuff
- The negotiation process
- Selecting an attorney
- What is due dilligence?
- The contract
- The mortgage process
- Board approval
- The “walk through”
- The closing
- Estimated closing costs – Coop Purchase
- Estimated closing costs Coop Sale
- Estimated closing costs – Condo Purchase
- Estimated cosing costs – Condo Sale
- Estimated closing costs – New Construction Condo Purchase
- Disclaimer
- Credits
- Glossary of real estate terms
Neighborhoods

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