MULTI-FAMILY RESIDENTIAL – COMMERCIAL PROPERTY

The estimated costs listed below are provided for reference purposes only as these costs do not represent the entirety of potential costs associated with any real property transaction.

FOR SELLER
Broker	2% to 6%
Own Attorney	$4,500 and up
New York City Transfer Tax	1.425% of purchase price if purchase price under $500,000
	2.625% of purchase price if purchase price over $500,000
	(plus $25 filing fee)
New York State Transfer Fee	$2 for every $500 of purchase price
Miscellaneous Title Company Fees	$100
FOR BUYER
Own Attorney	$3,500 and up
Bank Fees
Points*	0 to 3%
Application, credit and appraisal*	$350 to $500
Bank Attorney*	$2,500 and up
Appraisal*	$2,500
Recording Fees	Up to $500
Mortgage Tax	2% of amount of mortgage on loans under $500,000
	2.75% of amount of mortgage on loans over $500,000
Title Insurance	Approximately $675 per $100,000
Mortgage Title Insurance	Approximately $500 per $100,000
Violation Search	$250
Managing Agent Fee*	$300 and up
Short-term Interest	Up to one month
Bank Escrows	2 to 6 months of real estate taxes
*Where applicable