Closing Costs
Besides the transfer tax, what would be a fair percentage of the closing costs to ask the seller to pay? It doesn’t hurt to ask them does it?
Besides the transfer tax, what would be a fair percentage of the closing costs to ask the seller to pay? It doesn’t hurt to ask them does it?
Welcome 🙂
thanks babs 🙂
Mansion tax is payable on all sales of over $1 million for 1 – 3 family homes, as well as on individual co-ops and condominiums.
if I recall, there is mansion tax on 1, 2 and 3 family houses, and not 4…..maybe someone wants to look it up and check me out on this..
as a seller, I wouldn’t volunteer to pay any of the buyer’s costs
as a buyer, I would simply negotiate the best price I could and keep it simple
This is a 2 Family house..
Mansion tax is the buyer’s responsibility.
babs — Is the buyer or seller responsible to the mansion tax?
Agree with Pretzel. Also, don’t forget about moving, painting, fixing things up, new furniture, etc.
Also, totally depends on what kind of place: Condo? Coop? New construction? How much did you negotiate? Are you getting other considerations?
I assume this is new development, because otherwise the seller always pays RPTT as well as his own legal fees. Only in new development do sponsors try to make buyers pay these. If you are buying new development you should definitely try to get those two paid by the seller, but you may only get partial satisfaction. I don’t think any seller would cover more than that.