Seller side closing cost

uh, time for a new lawyer?

good question though, what are a sellers costs, for a 500k sale?

Co-op or condo? Your highest cost, as a seller, is probably going to be brokerage fees. On top of that you pay real estate transfer taxes, which will run you about 1% of your purchase price (to the city) plus 0.4% of your purchase price (to the state). Your building may have flip taxes or fees based on the sales price or number of shares you own -- check with the building but estimate 2% until you hear. You have to pay your lawyer (approx. another $2K) and if you are paying off an existing mortgage you have to pay the bank's lawyer. A co-op may catch you for another $1K as a move-out fee.

Finally, if you make more than $250K in profit (unlikely on a $500K sale) you have to pay capital gains taxes.

ali r.
DG Neary Realty

since the sale is in queens, it is reasonable for the attorney to travel to nassau county without an extra charge. #2 is typical, how much i don't remember.

ali, how about taking the extra 30 seconds and reading what the OP has already written rather then rambling.

ab, I wasn't replying to the OP... I was replying to NP freezer's question about what the seller's costs on a 500K sale would be.

good morning to you too, though.

ali r.

freezer... just go here http://www.corcoran.com/guides/index.aspx?page=ClosingCosts

thanks, all, from the link the E-filing to ACRIS is $50, that is probably #2 above, however I am charged $350, can I do this E-filing myself or that can't be done, I am just a bit angry at this last min they wanted extra.