Can a private coop seller ask the buyer to pay transfer taxes?
Is it unheard of for the seller of a coop to ask the buyer to shoulder some of the transfer tax burden?
Sat Apr 12 2008, 17:36 - 10002 - Home Selling - 2 answers
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BEST ANSWER
Hi Betsy,
Anything is negotiable. Not just the sale price but all sorts of other conditions, dates, fees and terms can be negotiated. You can structure the transfer taxes right into your transaction. With that being said I have not seen sellers asking for this other than in new developments. The buyer picks up the transfer tax and in exchange they get all sorts of things that are advantageous to them such as a long term tax abatements on the real estate taxes, ease of purchasing with no application involved etc. To a potential buyer there has to be some advantage to cover an expense that is normally covered by a seller - for example an attractive purchase price............ It is all interconnected. You could ask for it on a level of an individual offer rather than upfront depending on how good of an offer it is. Mon Apr 28 2008, 13:00 Web Reference: http://www.bellmarc.com/agents/profile.asp?id=BOH
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BEST ANSWER
FIRST ANSWER
Hi Betsy- Good Question! It is not unheard of. A contract between a seller and a buyer is whatever you both agree to. So go for it!
Sat Apr 12 2008, 17:59 Web Reference: http://www.carolynboyle.com
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