Dan Danielli - Condo/Townhouse Closing Costs

For The Seller

	Broker	as provided in exclusive with broker
	Own Attorney	approx. $2,000 +/-, as negotiated
	Managing Agent's Fee	approx. $500 +, as determined by building
	Move-out Deposit or Fee	approx. $1,000, as determined by building
	NYC Real Property Transfer Tax	1% of entire gross purchase price, if price is $500,000 or under; or
	NYC Real Property Transfer Tax	1.425% of entire gross purchase price, if price exceeds $500,000
	New York State Transfer Tax	0.4% (.004) of gross purchase price
	Satisfaction of Mortgage Fees	$450
	E Tax Filing (ACRIS)	$150
	Gains Tax Withholding (Out of State Seller)	7.7% of gain
	Non US Resident (FIRPTA)	10% of Price Withheld or paid

For The Purchaser

Own Attorney

Approx. $2,000 +/-, as negotiated

Bank Fees:
application, credit, appraisal, bank attorney and miscellaneous

Approx. $2,200, as determined by bank

Short-term Interest

One month max (prorated for month of closing)

Real Estate Tax Escrow

2-6 months

[Expect to pay eight (8) months' Real Estate Taxes
-combined between Seller as an adjustment and escrow established by Lender.]

Misc. Recording Fees

Approx $500

Mortgage Recording Fee

2.05% of entire amount of Mortgage on Loans $500,000 or under, OR

2.175% of entire amount of Mortgage on Loans exceeding $500,000

Fee Title Insurance

Approx. $8,000 for $2,000,000 NYC condo, based on rate schedule

Mortage Title Insurance

Approx. $1,500 for $1,500,000 NYC condo mortgage, based on rate Schedule

Misc. Title Charges

Approx $500

Managing Agent's Fee

Approx. $500, as determined by Building

Adjustments

Common Charges

Approx. One month (prorated for month of closing)

Real Estate Taxes

Approx. 8 months
(pro rated to closing, plus 6 month escrow, may include insurance

Mansion Tax

1% of entire gross purchase price (only when price exceeds $1,000,000)

Move-in Deposit

Approx. $1,000, as determined by building

When purchasing a condominium unit from a Sponsor, the Purchaser will be required to pay New York City and New York State Transfer Taxes(See “For The Seller” section above for amounts), as well as the Sponsor’s attorney’s fee (typically around $1,500).

All information furnished herein is from sources deemed reliable. No representation is made as to the accuracy thereof and it is submitted subject to errors, omissions and change without notice. We advise Parties to transactions to consult their own counsel for verification of these costs.