Your search results

Closing Cost

[cs_content][cs_section bg_image=”https://waldnewyork.com/wp-content/uploads/2018/01/newyork.jpg” parallax=”true” separator_top_type=”none” separator_top_height=”50px” separator_top_angle_point=”50″ separator_bottom_type=”none” separator_bottom_height=”50px” separator_bottom_angle_point=”50″ style=”margin: 0px;padding: 0px;”][cs_row inner_container=”true” marginless_columns=”false” style=”margin: 0px auto;padding: 0px;”][cs_column fade=”false” fade_animation=”in” fade_animation_offset=”45px” fade_duration=”750″ type=”1/1″ style=”padding: 0px;”][x_gap size=”40%”][/cs_column][/cs_row][/cs_section][cs_section parallax=”false” separator_top_type=”none” separator_top_height=”50px” separator_top_angle_point=”50″ separator_bottom_type=”none” separator_bottom_height=”50px” separator_bottom_angle_point=”50″ style=”margin: 0px;padding: 0px 0px 10px;”][cs_row inner_container=”true” marginless_columns=”false” style=”margin: 40px auto 0px;padding: 0px;”][cs_column fade=”false” fade_animation=”in” fade_animation_offset=”45px” fade_duration=”750″ type=”1/1″ style=”padding: 0px;”][cs_text]

Closing Costs The Difference between Co-Operatives and Condominium

[/cs_text][/cs_column][/cs_row][cs_row inner_container=”true” marginless_columns=”false” style=”margin: 40px auto 0px;padding: 0px;”][cs_column fade=”false” fade_animation=”in” fade_animation_offset=”45px” fade_duration=”750″ type=”1/2″ style=”padding: 0px;”][cs_text]

For Sellers

At Wald Real Estate we recognize it is important to partner with a trusted advisor who has a deep understanding of the real estate market and who can expertly price a property to help the seller find the highest possible offer in a timely manner. Wald Real Estate is trusted by sellers to close deals efficiently at the most advantageous prices. READ MORE
clock

For Renters

Delivering the goods in a timely fashion is Wald Real Estate’s number one priority when it comes to finding your next home. Wald Real Estate’s focus remains the same whether you are buying a home or renting one: our priority is to exceed your expectations. Our agents work with you to understand your needs, screen properties, and match you to the perfect layout, location, and building. READ MORE
clipboard
For Buyers

Looking out on your behalf, Wald Real Estate agents are experts on the ever-changing real estate market, from uncovering the best properties to knowing the intricacies of co-op and condo board requirements. We excel at understanding your desires and needs and matching you with exceptional properties READ MORE

Stephen P. Wald Real Estate Associates, Inc. has been synonymous with exceptional service and consummate knowledge of New York City real estate. The agents at Wald Real Estate are highly regarded for their professionalism, discretion, and creative thinking. This is why Wald Real Estate stands out among hundreds of other residential real estate firms in New York.
CONTACT US TODAY!


[/cs_text][/cs_column][cs_column fade=”false” fade_animation=”in” fade_animation_offset=”45px” fade_duration=”750″ type=”1/2″ style=”padding: 0px;”][cs_text]

Real Estate in New York
Founded by industry leader, CEO, and principal broker Stephen P. Wald, our full-service brokerage firm has a well-earned reputation for outstanding service. We not only facilitate the buying and selling of homes and investment properties, but we also see beyond to what makes each property special and unique. We have an in depth understanding of the marketplace, specializing in correct property valuation, unique marketing and sales strategy programs. Supported by a research team implemented to provide the utmost level of due diligence regarding your real estate transaction, our focus is based on a value driven, market savvy approach to acquiring both residential and investment properties. Our state of the art listings database is supported by the Real Estate Board of New York. In conjunction with our own skills and through years of experience, we have become an excellent resource for financial institutions, legal counsel (real estate and trust & estate planning) and architectural & design firms. It is client satisfaction that continues to set us apart from the brokerage community. Our business was built on it.
Since 1985, Stephen P. Wald Real Estate Associates, Inc. has been synonymous with exceptional service and consummate knowledge of New York City real estate. The agents at Wald Real Estate are highly regarded for their professionalism, discretion, and creative thinking. This is why Wald Real Estate stands out among hundreds of other residential real estate firms in Manhattan.
Who are we?

Whether you’re looking for property for sale in New York area or property for rent, Stephen P. Wald Real Estate Associates, Inc. makes searching easy.

Use our unique geolocation mapping feature to root-out your ideal condo, coop, townhouse or apartment and contact the owners direct. We will help you find your dream house in just a few seconds.

We offer our clients a wealth of knowledge regarding all aspects of purchasing or selling a home. Whether it is helping you search for your dream home, discussing new New York real estate developments.
How can we help you?
The Difference
CONTACT US TODAY!

[/cs_text][/cs_column][/cs_row][cs_row inner_container=”false” marginless_columns=”false” style=”margin: 40px auto 0px;padding: 0px;”][cs_column fade=”false” fade_animation=”in” fade_animation_offset=”45px” fade_duration=”750″ type=”1/1″ style=”padding: 0px;”][cs_text]


[/cs_text][/cs_column][/cs_row][cs_row inner_container=”true” marginless_columns=”false” style=”margin: 40px auto 0px;padding: 0px;”][cs_column fade=”false” fade_animation=”in” fade_animation_offset=”45px” fade_duration=”750″ type=”1/2″ style=”padding: 0px;”][cs_text]

CO – OPERATIVES

– An apartment in a building owned by a corporation or trust, in which each owner purchases stock representing the value of a single apartment unit and receives a proprietary lease as evidence of title. Shareholders pay a monthly maintenance fees to cover building expenses including real estate taxes the shareholders portion of the underlying mortgage(if there is one) Generally sales are subject to approval by a board of directors, and buyers must submit a purchase application (board package). The board will also require an interview. Financing and subletting is restricted in most coops.
Closing Costs: CO – OPERATIVES

For The Seller

Own Attorney

varies

Stock Transfer Stamps

$.05 per share

NYC Real Property Transfer Tax

1% of purchase price if $500,000 or less of the entire amount
1.425% of purchase price if over $500,000 of the entire amount

NYS Transfer Tax

0.4% (.004) of purchase price

Flip Tax (if applicable)

Determined by co-operative building

Payoff Bank Attorney (if applicable)

$450 + up

Managing Agent Fee

$500 – $750

Move-Out Deposit

$500 – $1000 (usually refundable if no damage)

Broker Commission

6% of purchase price

Estate Fees

Coop may impose additional fees for estate sales

Lost Stock and Lease Fees
$250 – $750

E Tax Filing (ACRIS)
$50

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

varies

Managing Agent Application Fee

$750

Credit Report Fee

$50 – $100 per applicant

Lead Based Paint Disclosure Fee

$0 – $50

Mansion Tax

1% of purchase price when over $1 million

Move-in Deposit

$500 – $1,000 (usually refundable if no damage)

Mortgage Associated Fees:

Origination Costs – points

0 – 3% value of loan

Application, Credit Check, etc.

$500 + up

Appraisal

$275 + up

Bank Attorney

$500 + up

UCC-1 Filing

$50 + up

Recognition Agreement Fee

$200 + up

Lien Search

$350

Maintenance Adjustment

Prorated for month of closing

* Check with bank/mortgage broker for additional fees . New York State Law requires a written letter of engagement if the legal fee will exceed $3,000. Non New York State residents should procure exemption for state transfer tax forms (TP584) . These are only estimates. Please confirm closing costs for specific transactions with your attorney and/or mortgage representative.

[/cs_text][/cs_column][cs_column fade=”false” fade_animation=”in” fade_animation_offset=”45px” fade_duration=”750″ type=”1/2″ style=”padding: 0px;”][cs_text]

CONDOMINIUM

– A multiunit structure or property in which persons hold fee simple title to individual units and an undivided interest in common areas(lobby, halls, stairways etc) Each individual apartment gets a separate tax bill from the city. There is also monthly common charges for building expenses. Financing and subletting is more flexible.

Closing Costs: Condominium Apartments / Townhouses and 1-3 Family Dwellings

For The Seller

Own Attorney

varies

NYC Real Property Transfer Tax

1% of purchase price if $500,000 or less
1.425% of purchase price if over $500,000 of the entire amount

NYS Transfer Tax

.4% (.004) of purchase price

Payoff Bank Fees (if applicable)

$450 *

Managing Agent Fee

$250 – $750

Move-Out Deposit

$500 – $1,000 (usually refundable if no damage)

Broker Commission

6% of purchase price

E Tax Filing (ACRIS)

$50

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

varies

Managing Agent Fee

$250 – $500

Credit Report Fee

$50 – $100 per applicant

Lead Based Paint Disclosure Fee

$0 – $50

Mansion Tax

1% of purchase price when priced $1 million or more

Move-in Deposit

$500 – $1,000 (usually refundable if no damage)

Mortgage Associated Fees:

Origination Costs – points

0 – 3% value of loan

Application, Credit Check, etc.

$500 + up

Appraisal

$275 + up

Bank Attorney

$500 + up

UCC-1 Filing

$50 + up

Mortgage Recording Tax

Up to $500,000 is 1.8% of mortgage; over $500,000 is 1.925% of mortgage

Title Insurance, Title Search & Recording Fees

Approximately 0.5% of purchase price

Building Searches

$200 – $400

Recording Charge

$17 per document plus $5 per page

Real Estate Tax Escrow
2-6 months

If Purchased Directly from Sponsor: ( ie: new construction)

NYC Real Property Ttransfer Tax

1% of purchase price up to $500,000
1.425% of purchase price over $500,000

NYS Transfer Tax

$4 per $1,000 of purchase price

Sponsor’s Attorney Fee
varies

* Check with bank/mortgage broker for additional fees . New York State Law requires a written letter of engagement if the legal fee will exceed $3,000. Non New York State residents should procure exemption for state transfer tax forms (TP584) . These are only estimates. Please confirm closing costs for specific transactions with your attorney and/or mortgage representative.

Selling Tips:
Keep your home clean and clutter free.

Fresh paint, including your front door and newly refinished floors.

Bright lights and all bulbs working!

Clean Windows a must!

De clutter and remove unnecessary furniture.

Fresh white bedding can do wonders.

Re grout bathroom tile if necessary.

Stage your home when necessary.

Professional renderings of what your home can look like after a 5 star renovation.
pin

[/cs_text][/cs_column][/cs_row][/cs_section][cs_section bg_color=”#3e495a” parallax=”true” separator_top_type=”none” separator_top_height=”50px” separator_top_angle_point=”50″ separator_bottom_type=”none” separator_bottom_height=”50px” separator_bottom_angle_point=”50″ bg_pattern=”https://waldnewyork.com/wp-content/uploads/2018/01/bg-pattern-blue.gif” class=”cs-ta-center section-cta” style=”margin: 0px;padding: 1px 0px 100px;”][cs_row inner_container=”true” marginless_columns=”false” style=”margin: 0px auto;padding: 0px;max-width: 600px;”][cs_column fade=”false” fade_animation=”in” fade_animation_offset=”45px” fade_duration=”750″ type=”1/1″ style=”padding: 0px;”][x_image type=”none” src=”https://waldnewyork.com/wp-content/uploads/2018/01/global-swirl-top.png” alt=”Swirl Top” link=”false” href=”#” title=”” target=”” info=”none” info_place=”top” info_trigger=”hover” info_content=”” class=”swirl top”][x_custom_headline level=”h1″ looks_like=”h3″ accent=”false”]Search All of New York Properties[/x_custom_headline][cs_text]

Hand-selected by local experts, these homes — curated by design, amenities, and neighborhood — provide a visual snapshot of the most sought-after properties around.

[/cs_text][x_button size=”global” block=”false” circle=”false” icon_only=”false” href=”http://iframe.nycrealestatedns.com/all-listings/” title=”search” target=”blank” info=”none” info_place=”top” info_trigger=”hover” info_content=””][x_icon type=”location-arrow” class=”mvn mln mrs”]Search[/x_button][x_image type=”none” src=”https://waldnewyork.com/wp-content/uploads/2018/01/global-swirl-bottom.png” alt=”Swirl Bottom” link=”false” href=”#” title=”” target=”” info=”none” info_place=”top” info_trigger=”hover” info_content=”” class=”swirl bottom”][/cs_column][/cs_row][/cs_section][cs_responsive_text selector=”.h-section” compression=”1.0″ min_size=”36px” max_size=”64px”][/cs_content]

Compare