Beach Home, Home Buyer in Rockaway Park Seaside,...

How much does it cost the seller to sell the home in NY with closing cost, agent fees, etc.? zip 11694

Asked by Beach Home, Rockaway Park Seaside, Queens, NY Mon Apr 5, 2010

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Beach Home,

Here are your closing costs as I'm an agent in the Rockaways and know your development.

For the Seller
Broker: Typically 56%
Own Attorney: 1,200 - 2,000
Processing Fee: $450+
NYC Transfer Tax:
Up to $500,000 = 1%
$500,000+ = 1.425%
Admin. Fee: Residential Deed Transfers= $75
NY State Transfer Tax: $4 per $1,000 of price
NYS Equalization Fee: $75
Pick-up/Payoff Fee: $250-$500
Miscellaneous Condominium Charges 500-1,000

If you're interested in speaking to me I'm right down the road at ABTS and would be happy to discuss some marketing options with you.

1 vote Thank Flag Link Tue Apr 6, 2010
How much does it cost the seller to sell the home in NY with closing cost, agent fees, etc.? zip 10312
0 votes Thank Flag Link Tue Dec 22, 2015
good morning...

you will pay realtor fees of approximately 6%
sellers transfer tax of .004 of sale price ($4 on every $1000 of sale price)
attorney $1000-$1200
pay off of any outstanding mortgage (if appicable)
plus some other closing costs averaging approx $1000

i hope this information helps you..!
please give me a call when/if you decide to market your home and i
will be happy to give you an idea of fair market value you can expect..

thank you very much..

have a wonderful day........

Lisa Palermo
Certified Negotiation & Short Sale Specialist
Coldwell Banker Residential

PHONE: 631-921-9979
0 votes Thank Flag Link Sun Sep 2, 2012
Seriously, if you are even cash nuetral, why not keep it? Boomers retiring in place will likely mean they will want to 'reach the beach', some of the newest construction is out there in Rockaway Park, and if they ever build a Bronx, Queens, Brooklyn North/South Subway, my bet is that it will terminate right outside. We have a property out there in 11694 that is slightly cash positive,and we intend to hang on to it for a while. Numbered streets above 96st have mostly newer construction, and it is looking much nicer out there then when I was younger. Schools still suck, but I don't think that will be your target rental market in a few years.

Antolin Du Bois, CFP®
Certified Financial Planner
President, RichFaith Inc.
0 votes Thank Flag Link Thu Jun 21, 2012
Dang Marco, you must be an amazing broker to collect 56% in commissions. :)
0 votes Thank Flag Link Thu Jun 21, 2012
Flag Sat May 24, 2014
In the boroughs you pay both a city and state transfer tax. The city tax varies based on the selling price. Will you be over or under $500,000? State tax is $4 per thousand, City tax is 1% up to $500,000 selling price, 1.425% if over $500,000. There may be a small fee associated with the form as well, I am not sure. Also, you will pay a title closer who will take care of paying off your mortgages if you have them. You also give the buyer a $500 property disclosure credit.
If you have paid your quarterly tax, the buyer will pay you back for the amount of time they will own the house out of that quarter.
Now, after you negotiate the fee with the agents, and they find you a buyer, don't forget that you will have to pay your own lawyer to prepare the contract of sale, and represent you at the closing. That is how things are done in NY, and sometimes when you try to get too much of your information from sites like Trulia, you will get information that does not apply here.
0 votes Thank Flag Link Mon Apr 5, 2010
Closing costs can vary and your attorney can give you some estimates--attorney fees, agent commission(commission is negotiable between you and your agent), prorated taxes, mortgage pay off if applicable, etc.
0 votes Thank Flag Link Mon Apr 5, 2010
Hello Beach Home,

Costs are based on percentages. If you are interested in selling your home and would like to know the costs I suggest you contact at a minimum of three agents and interview them for the position of selling your home. They will all prepare a net sheet showing your approximate costs to sell and what your net should be based on the selling price. If you are underwater and need to do a short sale there is no cost to the seller the lender will incur the costs involved.
0 votes Thank Flag Link Mon Apr 5, 2010
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