Closing Costs in Real Estate (房屋買賣的過戶費用)

Closing costs are the fees and expenses incurred during the transfer of property ownership, beyond the purchase price. In New York City, closing costs can be significant and should be factored into your budget.

Buyer Closing Costs

• Attorney fee: $2,000 - $3,500
• Title insurance: Based on purchase price (owner's + lender's policies)
• Title search and recording: $800 - $1,500
• Mortgage recording tax: 1.8% (loans under $500K) or 1.925% (loans $500K+)
• Mansion tax: 1%+ for purchases $1M or more
• Bank appraisal: $400 - $700
• Prorated property taxes and common charges

Seller Closing Costs

• NYC transfer tax: 1% (under $500K) or 1.425% ($500K+)
• NYS transfer tax: 0.4% or 0.65% ($3M+)
• Attorney fee: $2,000 - $3,000
• Real estate broker commission: Typically 5-6% of sale price
• Flip tax (co-ops only): If applicable
• Payoff of existing mortgage

Estimated Total

Buyers should generally budget 2-5% of the purchase price for closing costs (depending on property type and financing). Sellers should budget 7-9% including broker commissions.

Contact Huang & Associates, P.C. for a personalized closing cost estimate.