If you are the purchaser you will incur closing costs associated with the sale which typically would be about 5% of the mortgage amount (not the sales price per say). These closing costs for the purchaser include mortgage tax which is close to 2% plus title report fees, survey, appraisal, etc, etc. Sometimes you may even have to pay points (a point is 1% of the loan amount) to secure a better interest rate. Keep in mind that if the purchase price is greater than $1,000,000, you will also have to pay mansion tax which is an additional 1% of the sales price.
If you are a home seller, traditionally you will pay the real estate agents commission, New York City transfer tax (1.425%), New York State transfer tax (0.4%), a property condition disclosure fee ($500.00) and your attorney fee.
There are other nominal fees that can come into play, but for the most part that is it. If I can be o further assistance please contact me direct. Good luck!
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
Your buyers broker/agent should be able to advise you on all this for the apartment options that you are considering to look at, put offers in on etc.
With out knowing specifically what apartment, in what building and specifically how you plan on financing your purchase, no one can give you an exact number.
Kathryn Lilly, Broker
Realty on the Greene, LLC
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Senior Loan Officer
STERLING NATIONAL BANK
310 Crossways Park Drive
Woodbury, NY 11797
(516) 606-9648 Cell
(631) 659-2011 Office
(516) 918-5383 Fax