Closing Costs in NYC?

Closing Costs in NYC?

Rental Property Investor · Bronx, NY · Member since 2011 · 193 posts · 322 votes

Hi All!
I've been researching what the typical ball park percentage would be for closing costs in NYC. I've found a few resources that itemize what the expenses involve are, but not really price wise. I've even seen a little less than 3% of purchase price cited, but it didn't say if that was buyers costs or sellers costs or if that included the loan costs.

I'm a wholesaler and plan on assigning my contracts in most cases, but for those circumstances where I need to double close, I'd like a rough estimate of what the closing costs might be so I can adjust my offer accordingly.

I'm really looking for this kind of breakdown (if anyone is able to provide any piece of this it would be highly appreciated!):
-Approx sellers closing costs %
-Approx buyers closing costs % (w/o loan costs as if I was paying cash)
-Approx Loan costs %

(I'm not looking for Realtors commissions to be included above since I know that's 6% and can be negotiated/split btwn buyer and seller, etc)

Thanks!
Nicole

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  • Bronx, NY · Member since 2013 · 6 posts · 1 vote
    13y

    I am also interested in the closing costs in NYC. Is there a way to find out a given state's average closing costs?

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