Home Buying in Mineola>Question Details

Lorraine, Home Buyer in Mineola, NY

I looked at a Sponsor Coop in Nassau County. What additional fees will I have to pay?

Asked by Lorraine, Mineola, NY Sat Mar 20, 2010

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Nirmala Caraballo’s answer
Dear Lorraine

You will have to check with the listing regarding which type of fees buyer is responsible to pay. This information is usually disclosed in the listing sheet. SInce you are paying cash - the closing cost will be significantly less but that does not mean you will not have any closing costs. If the listing states that the buyers pays the transfer taxes and sellers attorney fees then you are also responsible for this. If you do not have an agent your attorney can also obtain this information for you.

Please do not hesitate to contact me, should you have any additional questions. Good luck on your home search.

Nirmala Caraballo
Real Estate Agent
Cruse Realty
Tel.: 646-479-7873
E-mail: nhcaraballo@yahoo.com
0 votes Thank Flag Link Sat Mar 20, 2010
Thanks for your prompt reply.

I am paying cash. From what I've read, buyer closing costs are minimal when paying cash. Will this still hold true with a sponsor unit? Will seller of sponsor unit still be responsible for for coop atty fee, stock transfer fee, NY Strate Transfer tax?
0 votes Thank Flag Link Sat Mar 20, 2010
Your agent and or attorney and or your loan officer can best advise you--what specific fees are you referring to?
0 votes Thank Flag Link Sat Mar 20, 2010
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