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| PURCHASE/REFINANCE: | ||
| FEE TITLE INSURANCE -Consult rate card -Discounts are for foreclosure reissues (regular rate x .70), cooperative apartments (regular rate x .70) and bulk rate (consult company). |
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| MARKET VALUE RIDER (OPTIONAL) -10% of the fee policy rate rounded to the nearest dollar. |
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| MORTGAGE TITLE INSURANCE -Consult rate card -SIMULTANEOUS RATE = 30% of the rate card amount rounded to the nearest dollar. -REFINANCE AND CONSOLIDATION RATES: Discounts up to 50% are available. Please consult this company for further details. |
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| MORTGAGE POLICY ENDORSEMENTS -Most lenders require the following endorsements: ENVIROMENTAL 8.1 ($25), WAIVER OF ARBITRATION ($25), and/or RESIDENTIAL MORTGAGE ENDORSEMENT($25). -Other common endorsements include (but are not limited to): VARIABLE RATE ($25), CONDOMINIUM ($25) and SURVEY ENDORSEMENTS (10% of the unreduced mortgage premium). |
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| MUNICIPAL DEPARTMENT SEARCHES -$225 for properties located within New York City -or- $195 for properties located outside New York City. -Additional charges may apply for special and/or multiple searches. |
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| SURVEY -$75 for survey inspection. -Consult this company if a new survey was ordered. |
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| MORTGAGE TAX | ||
| WITHIN NEW YORK CITY -ONE OR TWO FAMILY DWELLING: Mortgage principal amount x.0175 (1-3/4%) less $25.00 -or- mortgage principal amount x.015(1-1/2%) with no deduction for principal under $10,000.00 -THREE TO SIX FAMILY DWELLING: Mortgage principal amount x.0175(1-3/4%). -ALL OTHER TYPES OF PROPERTY: Mortgage principal amount x.02(2%). -MORTGAGE OVER $500,000.00: Add .00125(1/8%) for 1 to 3 family dwelling -or- add .0075(3/4%) for any other property. -aggregation and/or additional rules may apply. |
OUTSIDE OF NEW YORK CITY -ONE OR TWO FAMILY DWELLING: Mortgage principal amount x.0075(3/4%) less $25.00 -or- mortgage principal amount x.005(1/2%) with no deduction for principal under $10,000.00 -THREE TO SIX FAMILY DWELLING: Mortgage principal amount x.0075(3/4%) -ALL OTHER TYPES OF PROPERTY: Mortgage principal amount x.01(1%). -CITY OF YONKERS: Add an additional mortgage principal amount x.005(1/2%) to all cases above. -Aggregation and/or additional rules may apply. |
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| CONTINUATION SEARCH -$50.00 -Applies only to refinance closing with a 3 day rescission period |
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| RECORDING FEES | ||
| WITHIN NEW YORK
CITY - 2 page deed...................$63.00* - 4 page mortgage...............$42.00* - 2 page instrument.............$32.00* - 255 0r 253 affidavit..........$ 8.00 - * Add $5.00 for each additional page. - Additional charges may apply. |
OUTSIDE NEW
YORK CITY - 2 page deed...................$52.00* - 4 page mortgage...............$30.00* - 2 page instrument.............$24.00* - * Add $3.00 for each additional page. - Additional charges may apply. |
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| ESCROW DEPOSIT -Most lender require the title company to pick up any taxes due within 60 days from the date of closing. -A separate charge of $50.00 will be bill for each escrow agreement required. |
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| ADDITIONAL CHARGES -Possible addition charges include: Overnight mail ($25), Additional Chains, Mt. Vernon Transfer Tax and Mansion Tax (see TP-584) |
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| SELLERS: | ||
| NEW YORK STATE TRANSFER TAX -$2.00 per each $500.00 of purchase price or part thereof. (Simple calculation - $4.00 per thousand plus $2.00 if necessary). -Reductions available for mortgage and/or lien assumptions. |
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| NEW YORK CITY TRANSFER TAX -ONE, TWO OR THREE FAMILY DWELLING ($500,000.00 OR LESS): 1% of purchase price. -ONE, TWO OR THREE FAMILY DWELLING ($500,000.00 OR MORE): 1.425% of purchase price. -ALL OTHER PROPERTY TYPES ($500,000.00 OR LESS): 1.425% of purchase price. -ALL OTHER PROPERTY TYPES ($500,000.00 OR MORE): 2.625% of purchase price.
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| RECORDING FEES | ||
| WITHIN NEW YORK CITY - 2 page satisfaction or other instruments...$32.00* - * Add $5.00 for each additional page. - Additional charges may apply. |
OUTSIDE NEW YORK CITY - 2 page satisfaction or other instruments...$24.00* - * Add $3.00 for each additional page. - Additional charges may apply. |
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| ADDITIONAL CHARGES -- Possible additional charges include: Escrow Deposit, Escrow Service Charge ($35) and Capital Gains Tax. -Transfer taxes for properties located on Eastern Long Island. -NOTE: The title closer may also charge a satisfaction "pick-up" fee (approximately $125.00). |
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The above information is provided by Bartech Abstract Service Corp. FOR INFORMATION ONLY. it is intended to be used as a guide to estimating title company charges and may differ from, or not include, charges on the final title bill provided at closing. |
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