NYC Closing Costs Calculator
Calculate your estimated closing costs for buying a property in New York City, including taxes, attorney fees, and title insurance.
Property Details
Includes additional transfer taxes
💡 About NYC Closing Costs
Closing costs in NYC typically range from 2-5% of the purchase price. Co-ops generally have lower closing costs since they don't require title insurance or pay mortgage recording tax.
This calculator provides estimates for informational purposes only and is not legal, tax, or financial advice. Actual costs and requirements vary by property, contract, building, lender, and location and may change over time. Verify all figures with your attorney, lender, and closing agent before relying on them.
Buyer Closing Costs Note: Co-op vs condo/house costs differ significantly. Building/board fees, lender fees, and title/recording costs may vary and some items may not apply to your purchase. Transfer taxes are typically paid by the seller unless your contract shifts them (common in some new developments).
Estimated Total Closing Costs
$19,950
1.99% of purchase price
Mansion Tax
$10,000
Buyer's Attorney Fee
$4,000
Move-In Deposit
$1,000
Board Application Fees
$500
Move-In Fee
$500
Building Questionnaire Fee
$350
Lien Search Fee
$300
Credit Check
$100
Bank's Attorney Fee
$1,000
Loan Application Fee
$1,000
Appraisal Fee
$750
Recognition Agreement Fee
$350
UCC-1 Filing Fee
$100
Co-op Savings: Co-ops don't require title insurance or mortgage recording tax, resulting in lower closing costs.
Detailed Cost Breakdown
| Fee Type | Amount |
|---|---|
| Mansion Tax | $10,000 |
| Buyer's Attorney Fee | $4,000 |
| Move-In Deposit | $1,000 |
| Board Application Fees | $500 |
| Move-In Fee | $500 |
| Building Questionnaire Fee | $350 |
| Lien Search Fee | $300 |
| Credit Check | $100 |
| Bank's Attorney Fee | $1,000 |
| Loan Application Fee | $1,000 |
| Appraisal Fee | $750 |
| Recognition Agreement Fee | $350 |
| UCC-1 Filing Fee | $100 |
| Total Closing Costs | $19,950 |
Purchase Summary
Purchase Price
$1,000,000
Down Payment
$200,000
Total Cash Needed
$219,950
Fee Glossary
Attorney Fees
Your real estate attorney handles document preparation and provides legal advice throughout the purchase process.
NYC Mansion Tax
A progressive transfer tax on properties $1M+, ranging from 1% to 3.9% based on purchase price tiers.
Title Insurance
Protects against loss of ownership due to legal defects. Required for condos and townhouses with mortgages, not applicable to co-ops.
Mortgage Recording Tax
1.8% on mortgages under $500K, 1.925% above. Applies to condos and townhouses only, not co-ops.
Frequently Asked Questions
What are buyer closing costs in NYC?
Buyer closing costs typically include attorney fees, recording fees, title insurance, and the Mansion Tax (if applicable).
Do buyers pay broker fees?
In most NYC transactions, the seller pays the broker fee. However, some listing agents may charge a fee to the buyer, so it's important to clarify upfront.
How much is title insurance?
Title insurance is roughly 0.4% to 0.5% of the purchase price and protects your ownership rights.
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