Closing costs for buying a coop in NYC

[showtime]

Hey guys, I have a buyer who is confused on total closing costs for this coop purchase that's around $460,000. He says, "it seems to me there are things I didn't anticipate." See below. Obvious this is too simplistic. Any good advice on how to respond?

What I know:
1. attorney fee: 2k - 3k
2. transfer fee: ~ 1% of sales: $4.4k
3. mortgage application fee: ~1k
What else I should expect?

[aslan]

Hey showtime, you avoid the major ones by buying a coop at this price point. You avoid the 1% Mansion Tax since it’s under $1mm. You avoid the 2.05% Mortgage Recording Tax (on loan amount) since it’s a coop and not a mortgage.

Since it’s a sponsor unit, the transfer taxes for NYC are 1% (since it’s under $500k) and 0.4% for NY State.

Everything else is relatively minor. Your attorney will give you an exact breakdown closer to closing, and your mortgage banker will give you an estimate as well.

This is a hypothetical example:

Move-In Deposit – $500
UCC-1 Filing Fee – $100

Bank Attorney Fee – $750
Bank Loan Origination Fee – $750
Appraisal – $450
Mortgage Application & Processing Fee – $500
Credit Report & Employment Verification – $100
Title Search & Recording Fees – $1,000
Financing/Recognition Agreement Fee – $200

See reference link below where I pulled the above hypothetical closing costs in NYC from.