Why Are Buyer Closing Costs in NYC Lower for Co-ops than Condos?

Buyer closing costsin NYC are lower for co-ops than condos because co-ops are not considered to be ‘real property.’ Condos have two additional buyer closing costs as a result of being considered real property (like houses and land). These additional closing costs are the NYC & NYS Mortgage Recording Tax as well as Title Insurance. To estimate your buyer closing …

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