Closing Costs
Seller:
[1] Broker’s commission.
[2] State transfer tax: $4/$1,000 of the purchase price.
[3] City transfer tax (Yonkers, Mt. Vernon, & NYC).
[4] Lawyer fees.
[5] Mortgage recording fees (to satisfy previous mortgage).
[6] Capital gains tax.
Buyer:
[1] Points or loan origination fee.
[2] Mortgage tax.
[3] Apportionments: oil, prepaid taxes, tax escrow, etc.
[4] Homeowner’s insurance (1st year up front).
[5] Survey, if needed.
[6] Mansion tax (1% of purchase price if over $1M).
[7] Title search & title insurance.
[8] Lawyer fees.