lucy, Home Buyer in Brooklyn, NY

what are the flip taxes for 701 Gerald Ct #5F and who is paying?

Asked by lucy, Brooklyn, NY Tue May 14, 2013

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This question was asked from this property: http://www.trulia.com/property/3071142481-701-Gerald-Ct-5F-B…

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2
Hello,
Yes, you can finance the flip tax. Chase has flip tax waiver for these buildings(Lincoln Gardens). So, you can buy only with 20% down.
Thank you.
0 votes Thank Flag Link Mon Jul 1, 2013
Hi Lucy - the flip tax is $18,000-- technically the seller pays. However, you will need to cover
this together with your DP - 20% plus 18K plus closing costs. You cannot finance the flip tax
in your mortgage. if you have any other questions please feel free to contact me.
0 votes Thank Flag Link Tue May 14, 2013
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