Seller Resources

Seller’s Checklist for Preparation of Sale (Download PDF) – Whether you are selling your property on your own or listing with an agent, a seller should have the following information ready and available in preparation of sale:

  • Title Policy (Provide Clean Title)
  • Most recent real estate tax bill
  • Real Estate Attorney contact information
  • Property survey
  • Mortgage information
  • Trust information, if applicable
  • Condominium or Cooperative Documents, if applicable
  • All keys to the property

Sale Costs Checklist (Download PDF) – The following are general estimated closing costs associated with the sale of property. Potential sellers should consult their real estate attorney for specifics.

  • Broker’s Commission – Typically 6% depending upon size and marketing
  • Attorney’s Fees
    • Own Attorney:  $1,000-$5,000
    • Bank Attorney: $450+
  • Property Survey
  • Certificate of Occupancy
  • NYC Transfer Tax: 1% of purchase price up to $500,000; or 1.425% of price if $500,000 and over. Plus $25 administrative fee
  • NY State Transfer Tax: $2.00 per $500.00 of price, or 0.4% of purchase price
  • Miscellaneous Title Fees: $200+
  • Payoff Fee to Title Closer: $150+
  • Tax Credit  - Prorated to the buyer for current year’s real estate taxes not due until the following year
  • Managing Agent Fee (Condo/Co-Op): $250+
  • Move-Out Deposit (Condo/Co-Op): $300-$1000 (usually refundable if no damage)
  • E Tax Filing (ACRIS): $50
  • Gains Tax Withholding (Out of state seller): 7.7% of gain
  • Non-US Resident (FIRPTA): 10% of price withheld or paid

 

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