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Is there a stamp tax the buyer g=has to pay when buying a house?

Tue Apr 29 2008, 20:16 - New York - Home Buying - 3 answers
 
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Edward
Home Buyer
in 10028
Edward, Home Buyer in 10028 in 10028
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Lirealestate… was FIRST TO ANSWER
To clarify, I was referring to NYC purchases only.

Tue Apr 29 2008, 21:04
 
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Not sure about stamp tax but there is mortgage tax of 1.8% up to 500k and 1.925% above 500k. If its a new development, sometimes buyers are required to pay the transfer taxes as well. And mansion tax is the purchase price is above 1M. sunny_hong@countrywide.com

Tue Apr 29 2008, 20:50
 
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FIRST ANSWER
You have to pay $4 per thousand for transfer tax -$25. This is usually in your mortgage when you close.
If you are purchasing on the East End, there is also a Peconic Tax. This money is 2% of the purchase price.

Tue Apr 29 2008, 20:48
 
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