Resources

Transfer Taxes: A Guide for the Perplexed

Real Estate Taxes in New York State are complex, and it can be difficult for a first-time buyer to know what they will owe. The chart attached here should clear up some of the confusion. It contains the tax amounts–residential and commercial–for Transfer Taxes and the Mortgage recording tax, including any local differences by county. […]

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Closing Costs

Below is a memo that outlines the typical closing costs associated with various New York City transactions. Closing Costs as of January 2015 (PDF)

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Cooperative Closings: The Board Approval Process

The board approval process is one of the key stages in the purchase/sale of a cooperative, occurring shortly after execution of the contract of sale. The sellers of a cooperative unit generally have some experience with the board approval process, having gone through the process themselves at some point. Buyers may not have a similar […]

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