Home Buying in East Amherst>Question Details

Insherah, Home Buyer in Williamsville, NY

Do you pay state, county and city transfer tax for Amherst, NY? if so how much.

Asked by Insherah, Williamsville, NY Sun Mar 22, 2009

I am thinking about buying a forclosure in Amherst, and want to know what search, survy and title isurance and transfer tax would cost. is it based on value of home or purchase price.

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2
well it would be cash, and our buyer agent says that the lawyer is suppose to tell me the closing cost. AHHHH
No mortgage, is there a transfer tax for the state or city?
0 votes Thank Flag Link Mon Mar 23, 2009
Are your getting a mortgage or paying cash?

Search, Survey and Title Insurance would be around $1500 ... Erie County Transfer tax is .009 % of the purchase price, not including closing costs associated with a mortgage.

With a foreclosure purchase, have your buyer's agent check the bank's cost for proceeding ahead with an offer. Sometimes banks might charge processing fees or make you get pre-approved through the bank holding the REO.

Your buyer's agent should prepare a statement with estimates about closing costs.

Good luck with your equity acquisition.
0 votes Thank Flag Link Sun Mar 22, 2009
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