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Hi John, Hope your attorney is involved. You should have your mortgage broker answer those questions. Most foreclosures the buyer pays for transfer taxes which in NYC ( 5 boros) at your purchase price of $305K- 1% for NYC and $4.00 per 1000 for NYS. Your closing costs are determined by how much of a loan you are getting, mortgage tax, title insurance (Your attorney will MAKE SURE THERE ARE NO LIENS), survey fee, recording fees and fees your broker is charging.( pay points to buy down the interest rate). Call your mortgage broker 1st thing tomorrow and have him give you a good faith estimate which will list all your cost. More info Terry K 718-614-3167 cell or email me therese.korahais@elliman.com
Mon Jul 6 2009, 20:37