• SALES GUIDE

 

Standard Fund Requirements

Multi-Family Residential/Commercial Property

For Seller

Broker Fees: Are typically 6%. Fees vary according to property size and amount of marketing

Attorney Fees: Approximately $5,000

New York City Transfer Tax: 1.425% of price up to $500,000 2.625% of entire price when it exceeds $500,000

New York State Transfer Tax: 0.4% (.004) of price

Payoff Bank Attorney: If Seller has mortgage - $350 Miscellaneous $200 Transfer Security Deposit T.S.D.

 

Cooperative Apartment

For Seller:                                                                                                                                                                                    

Broker Fees: Are typically 6%. Fees vary according to property size and amount of marketing

Attorney Fees: Approximately $1,500

Managing Agent: $450

Flip Tax: Consult Managing Agent

Stock Transfer Tax: $.05 per share

Move Out Deposit Fee: $1,000

New York City Transfer Tax: 1.00% of price up to $500,000 1.425% of entire price when it exceeds $500,000

New York State Transfer Tax: 0.4% (.004) of price

Payoff Bank Attorney: If seller has mortgage $30

UCC-3 Filing Fee: If seller has mortgage $350

 

 

Condominium/Townhouse

For Seller:                                                                                                                                                                                             Broker Fees: Are typically 6%. Fees vary according to property size and amount of marketing

Attorney Fees: Approximately $1,500

Managing Agent: $450

Move Out Deposit Fee: $1,000

New York City Transfer Tax: 1.00% of price up to $500,000 1.425% of entire price when it exceeds $500,000

New York State Transfer Tax: 0.4% (.004) of price

Miscellaneous Title Company Fees: If seller has mortgage $200