how do you figure closing costs on a co-op?

DH and I are expecting an offer next week from a couple when they get back from there honeymoon.....how do you figure closing costs, particularly on a co-op where I believe there to be extra fees. We need to figure this out so we know what we can sell for. TIA!

Re: how do you figure closing costs on a co-op?

If I recall, we were told to expect like 5% but there was 1 fee that we didn't have to pay that if we were buying a house, we would. But honestly, I can't remember.

Re: how do you figure closing costs on a co-op?

We used this and it was fairly accurate Closing Costs

Re: how do you figure closing costs on a co-op?

Doesn't the buyer pay the closing costs or are you doing some type of deal with them? When I bought my co-op I *think* I paid $4000 in closing costs....

ETA: I just read the above link...I really had no idea the seller paid any fees except lawyer fees....interesting

Message edited 8/12/2009 9:47:19 AM.

Re: how do you figure closing costs on a co-op?

You need to ask your board about thier fees. This will vary greatly from coop to coop.

When we bought ours, there was a whole list of fees, some the seller paid, some split with the buyer. All told it was a few thousand dollars.