Saturday, March 6, 2010

Transaction costs New York property

Transaction costs when buying and selling a condo apartment in Manhattan, New York.  The buyer numbers assume $1 million apartment with 60% loan.  It's to keep it simple without 2 pages and 200 line items.

Buyer - transactions costs 
Total approx 5 percent of loan
* Mortgage tax 2% of loan
* Title insurance 0.8% of loan
* Misc 2% of loan

Seller - transaction costs
* Transfer tax 2% of sale price
* Misc $10,000
* Broker commission

Transaction costs New York property

Related:
Castle Avenue Partners - Manhattan investment properties
Annual return ROI Manhattan apartment vs Dow

1 comment:

Gladys Christabel said...

you have given nice information about transaction while buying and selling home in new york.

Even all Real Estate Agents and Consultants will explain to the home owners for buying and selling home.


Vacant Properties for sale in New York