Costs of Buying a CONDO

Own Attorney:  Consult your attorney

Bank Fees Points: 0% to 3% of loan value

Application Fee (Credit Report/Appraisal) $500 +

Bank Attorney $450+

Short Term Interest One month

Tax Escrows 2 to 6 months

Recording Fees $300

Mortgage Tax 1.80% of amount of mortgage on loans under $500,000

                          1.925% of amount of mortgage on loans of $500,000 and over

Fee Title Insurance Approx. $450 per $100,000

Mortgage Title Insurance Approx. $200 per $100,000

Municipal Search $275+

Managing Agent Fee $250+

Common Charge Adjustment Pro-rated forthe month of closing

Real Estate Tax Adjustment 1 to 6 months

Mansion Tax 1% of the purchase price if price is $1,000,000 or more

Move-in Fee One time fee of $500+

Costs of Buying a COOP

Own Attorney Consult your attorney

Bank FeesPoints: 0% to 3% of loan value

Application, credit check, etc. $500+

Bank Attorney $450+

Miscellaneous Bank Fees $500+

Lien Search $300

UCC-1 Filing $20

Appraisal Fee $300+

Application Fee (Credit Report/Appraisal) $500+

Move-in Deposit One time fee of $500+

Recognition Agreement Fee $200+

Maintenance Adjustment Pro-rated for the month of closing

Mansion Tax 1%of the purchase price if price is $1,000,000 or more.

Short-term interest equals to interest for the balance of the month in which you close.