Below is an overview of closing costs in New York State for a single family house. This is just a guide. The estimated costs are subject to change depending on the bank, the price of the property, which bank attorney, etc. Please don't quote these numbers but rather compare one estimate to another.
SELLER'S CLOSING COSTS
Transfer Taxes
New York State .4% (.004) of the sale price; Yonkers and Mt. Vernon have separate transfer taxes, Peekskill is considering one, please check in your community.
$500
Real Estate Broker Fee
Loan Payoff
Pick Up Fee $100-200
Record Satisfaction $75-150
Final Water Reading $35-50
Attorney's Fee - Varies
BUYER'S CLOSING COSTS
Title Insurance (depends on cost of home)
Title Search $400-600
Recording $200-400
Gratuity to the Title Closer $150-250 (recommended)
Mortgage Recording Tax (your attorney will discuss with you)
Survey of the Property
New $750-1500
Survey Inspection $200-400
Lenders Attorney Fee $500-750
Taxes (depending on the lender property taxes may have to escrowed, plus depending on when you close you have to pay the seller for any prepaid taxes)
Insurance (liability, theft, fire)
Mansion Tax (over one million dollar purchase price 1% tax to New York State)
Adjustments, unused oil, etc.
