Closing Costs Calculator

Please indicate whether you are buying or selling, and choose the options that best describe your transaction.

Normally, Transfer taxes and seller's attorney fees, if applicable, are paid by the seller. However, when buying a sponsor unit (for example, in a new development), these expenses are the buyer's responsibility.

Attorney, insurance company, title search company and other service providers will help you with due diligence on the property and recording of the contract.

All property-related documents must be copied, certified and filed with the New York City Register

All real estate purchases over $1,000,000 are subject to Mansion Tax.

Attorney and lien search company will help you with due diligence on the property and recording of the contract.

All real estate purchases over $1,000,000 are subject to Mansion Tax.

Each building has its own Board that sets the rules specific to their building. Such rules cover such procedures as application and approval of future residents, the move-in procedure, sublet policy, and any repairs and improvements on the building.

Residents are responsible for monthly charges for common areas and services in the building.

Each building has its own Board that sets the rules specific to their building. Such rules cover such procedures as application and approval of future residents, the move-in procedure, sublet policy, and any repairs and improvements on the building.

Residents are responsible for monthly charges for common areas and services in the building.

If you are taking on a mortgage to finance your purchase, you will incur costs associated with mortgage application and origination. Fees vary among lending institutions; some of them are fixed while others are negotiable.

Your lender will require you to obtain an independent appraisal as well as a mortgage title insurance.

Total mortgage-related costs run from 3% to 6% of the borrowed amount.

Mortgage tax is a one-time tax paid to the State of New York when the mortgage is obtained.

Your attorney will provide you with legal guidance and representation during title clearance, preparation and signing of the contract.

In the state of New York, the Automated City Registering Information System is used to compute and file Real Estate Property Transfer Taxes.

Tax Withholding is a due upon sale withholding for Sellers whose primary residence is outside of the New York State. The withholding is calculated from the gross sales price. Foreign nationals are subject to the 10% tax withholding at the time of sale. In case the seller's Capital Gain tax is smaller than the withheld amount, the Seller will receive tax refund from the State.

Capital gain is taxed on the difference between the purchase and sales price of the property, adjusted for capital improvements and selling expenses.

UCC-3 is a public record indicating the satisfaction of a mortgage on a real property.

Usually the Seller pays only a small fraction of the total recording fees. Most recording fees are normally paid by the Buyer.

Your bank and lending institution often charge a fee to process and expedite the mortgage or loan payoff.

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