As a buyer in New York City, your closing costs are substantial and can add up to an extra 2 to 4% on top of your purchase price. Closing costs for buyers who purchase new construction units directly from a sponsor are even higher and can range from 5 to 6%.
New York City home buyers can reduce closing costs by up to 1% by working with a Hauseit affiliated buyer’s agent and taking advantage of a New York City buyer agent commission rebate.
Request a NYC Broker Commission Rebate: http://hauseitreviews.com/buyer-agent-commission-rebate-nyc/
The typical Hauseit buyer agent commission rebate in New York City of 1% off your purchase price can save you $15,000 or more when buying a property.
Save with a Buyer Agent Commission Rebate: http://www.hauseit.com/home-buyer-cash-back/
In NYC, sellers generally pay a fixed commission regardless of whether you are represented or not. Therefore, the cost of your representation is already included in the sales price even if you choose to be unrepresented.
So, what are closing costs for buyers in New York City?
Closing Costs in NYC for buyers include:
A mansion tax of 1% for sales above $1 million
Title insurance for condos, as well as
Buyer attorney fees and a move-in deposit
Buyers who are financing the purchase will also be responsible for:
A condo mortgage tax of 2.05 to 2.8% as well as miscellaneous items such as the appraisal, loan origination, title search and bank attorney fees
Buyers who are purchasing new construction will also be responsible for:
New York City and New York State transfer taxes of 1.4 to 1.825% as well as the sponsor’s attorney fees
Whether you are buying a condo or coop in NYC, be sure to save 1% on your purchase by requesting a buyer’s agent commission rebate through Hauseit.
NYC Broker Commission Rebate Legality: http://www.hauseit.com/nyc-broker-commission-rebates-legal/
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