In most co-op buildings, the seller pays the flip tax - but the structure varies widely. Some buildings charge a percentage of the sale price (commonly 1-3%), others a percentage of profit, and some a flat per-share fee. Your building's actual figure must be read from the proprietary lease or confirmed with the managing agent. Check your proprietary lease and building's policy before listing so you can accurately calculate net proceeds. In rare cases, the flip tax is split or paid by the buyer.
From the seller playbook: Flip Tax Structures in Co-ops
This is general information, not legal, tax or accounting advice. Every situation is different. Talk to a licensed attorney, accountant or tax professional before you act.
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