Mansion or not, you can't escape the so-called mansion tax

… buyers are more likely to end up with a one bedroomso its a closing cost that is shouldered by many buyers The mansion tax aka New York State Tax 1402a  can increase your closing costs by thousands Its also possible you may have to … Also Like … viewbublogpanes=ymalinline   … Buy … buying … closing … taxes … Mansion or not you cant escape the …

By Jennifer White Karp |April 14, 2025 - 10:00AM
What is a mortgage recording tax? Are there ways to reduce it?

Buying a coop condo or house in New York City means you can expect to pay several hefty fees and taxes as part of your closing … 2024 We are presenting it again in case you missed it … How is mortgage recording tax calculated … This tax is …

By Brick Underground |February 18, 2025 - 12:30PM
Buying for the first time in NYC? Be sure to prep your finances first

… of credit which you pay off regularly including credit cards student loans and car loans Its best to have at least a 12month payment history on each of these Cohn points out that this can be a challenge for younger … time getting a loan  Daniel Blatman a broker at Compass  points out other reasons a buyers credit is critical Banks …

By Evelyn Battaglia |January 21, 2025 - 1:30PM
The buyer's and seller's guide to NYC closing costs

… Whether youre buying or selling real estate in New York City you face hefty taxes and fees at the closing tableincluding some that you may expect and others … attorney at The Stone Law Firm Read on for an overview of what youll pay in closing coststhe actual sum will vary …

By Evelyn Battaglia |January 6, 2025 - 10:00AM
Closing credits: Here's how much NYC sellers are paying now—and how to negotiate your own deal sweetener

… One way to think of a closing credit is a quiet discountbecause the buyer gets a concession from the seller at the closing table … gets officially recorded will be significantly higher than what the seller actually pays which helps maintain a higher …

By Evelyn Battaglia |January 31, 2024 - 3:30PM