Seller's guide
Overview of the Sales Process
From the moment you sign an exclusive listing agreement that allows us to represent your property exclusively, we will work closely with you through to closing of the sales process.
Pricing
A well-priced property, based on the current condition of the market , is the first important step to a successful sale. We provide you with a market analysis of comparable properties for sale in your price range, neighborhood and property type category.
Preparing your property
We help you prepare your property for viewings to maximize appeal . We perform professional staging, if necessary, to showcase your property in the best possible light.
Marketing
We work towards reaching the widest possible pool of qualified buyers. We start by immediately spreading the word about your property to the entire New York City brokerage community so they can come preview it and start showing it to their customers. We also announce the listing directly to well-qualified buyers in our contacts database. We are also marketing on some of the most visited search engine real estate and consumer sites .
Showing Your Home
When your property is ready for showing, we coordinate and oversee all open houses. We arrange individual showings for brokers, their customers and ours, with all appointments scheduled at your convenience.
Ongoing Communication
We will keep you constantly updated on feedback from brokers and their customers, as well as all developments regarding the sale of your property.
Professional Service
We have experience in all areas of your real estate transaction, from bid management to liaising with attorneys and keeping all information flowing to ensure a prompt contract signing and closing.
Expert Board Package Preparation
You can rely on our ability to assemble with the necessary attention to details and thoroughness and submit complete board packages for approval.
From the moment you sign an exclusive listing agreement that allows us to represent your property exclusively, we will work closely with you through to closing of the sales process.
Pricing
A well-priced property, based on the current condition of the market , is the first important step to a successful sale. We provide you with a market analysis of comparable properties for sale in your price range, neighborhood and property type category.
Preparing your property
We help you prepare your property for viewings to maximize appeal . We perform professional staging, if necessary, to showcase your property in the best possible light.
Marketing
We work towards reaching the widest possible pool of qualified buyers. We start by immediately spreading the word about your property to the entire New York City brokerage community so they can come preview it and start showing it to their customers. We also announce the listing directly to well-qualified buyers in our contacts database. We are also marketing on some of the most visited search engine real estate and consumer sites .
Showing Your Home
When your property is ready for showing, we coordinate and oversee all open houses. We arrange individual showings for brokers, their customers and ours, with all appointments scheduled at your convenience.
Ongoing Communication
We will keep you constantly updated on feedback from brokers and their customers, as well as all developments regarding the sale of your property.
Professional Service
We have experience in all areas of your real estate transaction, from bid management to liaising with attorneys and keeping all information flowing to ensure a prompt contract signing and closing.
Expert Board Package Preparation
You can rely on our ability to assemble with the necessary attention to details and thoroughness and submit complete board packages for approval.
Closing costs for the Seller
Condominiums and townhouses
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Application/Waiver Fee
Pick-Up Fee for Mortgage Pay-Off Real Estate Tax and Common Charge Adjustment Brokerage Commission Seller's Attorney's Fee Move-Out Deposit - refundable Move-Out Fee - non-refundable NYC Real Property Transfer Tax Commercial/Bulk Sales Rate NYS Transfer Tax NYS Estimated Capital Gains Tax Transfer Tax Filing Fee Federal Withholding Tax (FIRPTA) |
$500- $1,000
$175 - $250 Not really a "closing cost". Seller reimburses Purchaser for the portion of maintenance and/or Real Estate Taxes that the Seller failed to pay prior to Closing Typically 6% of Sales Price Consult your attorney $500- $1,000 $250- $1,000 1% of Sales Price if $500,000 or less 1.425% of Sales Price if greater than $500,000 If 2 or more unattached units are sold simultaneously to the same buyer, the commercial transfer tax rate applies : 1.425% of the Sales Price if $500,000 or less 2.625% of Sales Price if greater than $500,000 0.4% of Sales Price 8.97% of estimated gain - paid at closing unless (i) Seller is a NY State resident at time of sale, or (ii) property was Seller's primary residence for 2 out of the last 5 years, or (iii) Seller has set up a 1031 Tax-Deferred Exchange (investment property only) $75 10% of Sale Price if Seller is a non-resident foreigner |
Cooperatives
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Flip Tax
Stock Transfer Tax Transfer Agent Fee (Coop Attorney's Fee) Maintenance Adjustment Brokerage Commission Seller's Attorney's Fee Move-Out Deposit - refundable Move-Out Fee - non-refundable NYC Real Property Transfer Tax Commercial/Bulk Sales Rate NYS Transfer Tax NYS Estimated Capital Gains Tax Transfer Tax Filing Fee Federal Withholding Tax (FIRPTA) Payoff Bank Attorney Fee UCC-3 Filing Fee |
$250- $1,000
Variable depending on the building (if applicable) $0.05 per share $500 - $750 Not really a "closing cost". Seller reimburses Purchaser for the portion of maintenance that the Seller failed to pay prior to Closing Typically 6% of Sales Price Consult your attorney $500- $1,000 1% of Sales Price if $500,000 or less 1.425% of Sales Price if greater than $500,000 If 2 or more unattached units are sold simultaneously to the same buyer, the commercial transfer tax rate applies : 1.425% of the Sales Price if $500,000 or less 2.625% of Sales Price if greater than $500,000 0.4% of Sales Price 8.97% of estimated gain - paid at closing unless (i) Seller is a NY State resident at time of sale, or (ii) property was Seller's primary residence for 2 out of the last 5 years, or (iii) Seller has set up a 1031 Tax-Deferred Exchange (investment property only) $100 10% of Sale Price if Seller is a non-resident foreigner $375 - $500 $75 - $125 |
Note: For new developments, the Purchaser will pay costs normally paid by the Seller. These include Seller attorney fees as well as NY and NYC Transfer Taxes.