Buyer Closing Costs Calculator

Use our interactive calculator to estimate your buy-side closing costs in New York City for condos, co-ops, and single-family homes.

Property Details

Equity

$0

Debt

$0

Closing Costs

$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0

Financing Fees

$0
$0
$0
$0
$0
$0
$0
$0
$0

Total Buyer Closing Cost

0%
$0

Byson's Closing Cost Calculator provides estimates that are meant to be illustrative and used for reference purposes only. Exact closing costs will vary per transaction. Please consult the closing statement your real estate attorney will provide you for your exact closing costs.

Share Results

Frequently Asked Questions

Closing costs for buyers in NYC typically range from 2% to 5% of the purchase price. Co-ops usually fall on the lower end, while condos and townhouses—especially when financing—tend to have higher closing costs due to mortgage recording tax and title insurance. For new developments, additional fees like transfer taxes and sponsor attorney fees may apply.

You can use our Buyer Closing Costs Calculator to generate a personalized estimate based on your purchase price, financing method, property type, and more. The tool factors in real taxes, legal fees, lender costs, and building-specific fees.

In NYC, both the buyer and seller have their own separate closing costs. Buyers typically pay for legal fees, lender and title-related charges, and mansion tax (if applicable). Sellers usually cover their own attorney fee, broker commission, and NYC/NYS transfer taxes. In new development purchases, some of these costs may be negotiated or shifted depending on the deal.

Yes — closing costs can vary significantly depending on the property type:

  • Condos
    Buyers are responsible for title insurance, mortgage recording tax, and deed recording fees. Additionally, most condos require board application fees and move-in deposits, which vary by building and board.

  • Co-ops
    Co-ops do not require title insurance, mortgage recording tax, or deed recording fees. However, they often involve board application fees, flip taxes, and move-in deposits, all of which vary by building and board.

  • Single-Family Homes/Townhouses
    These properties do not have board application fees or flip taxes. Closing costs are generally similar to condos, including title insurance and recording fees. In addition, surveys may be required, which are an added expense specific to this property type.

Our Buyer Closing Costs Calculator factors in these distinctions to provide the most accurate estimate based on your property type.

In some cases, yes. Especially in a buyer’s market or with new developments, sellers may offer concessions toward closing costs. However, such negotiations are less common in NYC resale transactions. A seasoned buyer’s agent can help structure your offer accordingly.

Estimating Buyer Closing Costs

Purchasing a property comes with additional costs beyond the purchase price. Our Buyer Closing Costs Calculator helps you estimate the total closing expenses—including taxes, attorney fees, and lender costs—so you can plan accordingly.

Property Details: Key Inputs

  • Purchase Price: The agreed-upon sales price of the home.
  • All Cash (Check Box): If selected, financing-related fees are excluded.
  • New Development (Check Box): Additional costs like sponsor attorney fees and working capital contributions apply.
  • Purchase CEMA (Check Box): Potential mortgage tax savings when assuming an existing loan.
  • Down Payment (%): The percentage of the purchase price paid upfront.
  • Equity: The portion of the purchase price paid in cash.
  • Debt: The amount financed through a mortgage.
  • Property Type: Condo, Co-op, or Single-Family Home, determining applicable fees.

Buyer Closing Costs: Defined

Attorney & Administrative Fees

  • Buyer's Attorney Cost: Legal fees for contract review and closing.
  • Board Application Fees: Charged by co-op and condo boards.
  • Move-In Deposit: Refundable security deposit for move-in damages.
  • Move-In Fee: Non-refundable administrative move-in cost.
  • Credit Check Fee: Required for co-op and condo board applications.

Taxes & Title Fees

  • NYS Mansion Tax: Progressive tax on properties $1M+, starting at 1%. (View NYS Tax Info)
  • Flip Tax Amount: Co-op-imposed fee, usually 1-3% of the purchase price.
  • Owner's Title Insurance: Required for condos and single-family homes.
  • Misc Title Fees: Covers title searches and administrative costs.
  • Title Endorsements: Additional title protection.
  • Deed Recording Fee: Applies to condos and townhouses.

Financing Fees (If Financing)

  • Mortgage Recording Tax: 1.8% for mortgages under $500K, 1.925% for $500K+. (View NYS Tax Info)
  • Title Insurance: Required for financed condos and townhouses.
  • Bank Attorney Fee: Paid to the lender’s attorney.
  • Loan Application Fee: Charged by the lender.
  • Appraisal Fee: Determines the home’s market value.
  • Mortgage Recording Fee: Government fee for recording the mortgage.