1
2
3
Read below to learn about the selling process.
→ A majority of properties are listed above the market value.
→ Additionally, buyers have been conditioned to think that properties in several price points in areas of Manhattan and Brooklyn sell in a short period of time.
→ The 10-Day Selling Program changes the buyer’s mindset from “How cheap can I get this property?” to “This property is great and I want to beat out everyone else to get it.” In other words, we create competitive urgency that is conducive to the mindset of the Manhattan and Brooklyn buying public. This is achieved by:
→ The result is having multiple bids and having the property sell efficiently and at the highest price possible.
→ Careful and meticulous preparation of the property to attract the widest array of buyers prior to putting it on the market.
→ A timed delay from when the listing goes live on Monday to the Open House on the weekend.
| FEE | ESTIMATED COST |
|---|---|
| Broker Commission | |
| Broker | ~6% |
| Bank | |
| Payoff Bank Fees | $300-$1,000 |
| Building | |
| Managing Agent Closing Fee | $500-$,1000 |
| Move-out Fee | $500+ |
| Move-out Deposit | $500-$1,500(refundable) |
| Government | |
| Residential NYC Transfer Tax* | 1% if purchase price is < $500,000 |
| 1.425% if purchase price is >$500,000+ | |
| Progressive NY State Transfer Tax* | 0.4% for Residential Transactions < $3M |
| 0.65% for Residential Transactions > $3M | |
| UCC-3 Filing Fee | $125 |
| Recording & Closing | |
| Pick up/Payoff Fee to Title Closer | ~$250-$500 |
| FEE | ESTIMATED COST |
|---|---|
| Attorney | |
| Your Attorney | Consult your attorney - $2,500 ≈ $5,0000 |
| Lien Search Fee | ≈ $350 |
| Bank | |
| Points | ≈ 0 - 3% of the loan value |
| Bank Application, Credit Check, etc | $400 - $600 |
| Bank Attorney | $900 - $1,500 |
| Mortgage Origination Rate | ≈ 0 - 3% of the loan value |
| UCC 1 Filing | $125 |
| Appraisal | ≈ $300 - $1.500 |
| Building | |
| Board Package Processing Fees | $500 - $2,000 |
| Credit Check Fee | $100 - $300 per buyer |
| Move-in Fee | $250 - $500 |
| Move-in Deposit | $500 - $1,000 (refundable) |
| Maintenance Adjustment | Pro-rated for the month of closing |
| Recognition Agreement Fee | $200 - $300 |
| Miscellaneous Co-op Charges | Varies by building. Consult the co-op's transfer agent & board package |
| Goverment | |
| Transfer Tax Filing Fee | $100 |
| Mansion Tax |
$1M to < $2M: 1.00% $2M to < $3M: 1.25% $3M to < $5M:1.50% $5M to < $10M: 2.25% $10M to < $15M: 3.25% $15M to < $20M: 3.50% $20M to < $2514: 3.75% $25M or more: 3.90% |
| FEE | ESTIMATED COST |
|---|---|
| Broker Commission | |
| Broker | ≈ 6% |
| Your Attorney | |
| Attorney | Consult your attorney ≈ $2,500 - $5,000. |
| Bank | |
| Payoff Bank Fees | $500 - $1,000 |
| Government | |
| Residential NYC Transfer Tax |
1% if purchase price is < $500,000 1.425% if purchase price is > $500,0000 |
| NY State Transfer Tax |
0.4% for Residential transactions < $3M 0.65% for Residential transactions > $3M |
| Transfer Tax Filing Fee | $100 |
| UCC-3 Filing Fee | $125 |
Our team is passionate about real estate, and is a valuable resource for real estate knowledge and guidance. We look forward to working with you!
CONTACT US