Home Selling in New York : Questions & Answers

change location

cancel or

Q&A

259
Ron Thomas, Real Estate Pro in Fresno, CA
Ron Thomas answered:
How long does a brokerage agreement to sell a coop apartment typically last? Thanks again for your input.
This is one of those things that are negotiable for each Listing.
We rae seeing 90+ days for some listings, so any less than that is pretty much nonsense.
Your Realtor can speak for h ... more
0 votes Share Flag Mon Dec 5, 2011 Home Selling in New York
Kelly Killian, Real Estate Pro in 10011
Kelly Killian answered:
Do all the major NYC brokers insist on an exclusive right to sell? Will they use an exclusive agency if he asked for?
Hi Jon:
Yes, we will allow a right to terminate provided that an agent has not done their duty and the new agent provided for the exclusive is not satisfactorily performing either. In ... more
0 votes Share Flag Sat Nov 26, 2011 Home Selling in New York
Dan Tabit, Real Estate Pro in 98074
Dan Tabit answered:
i don't know how i am going to upload my house on this site..
Bella,
Trulia does not currently accept For Sale by Owner listings. If you are listed with an agent, they can take care of this for you. If you are not listed, please consider it ve ... more
0 votes Share Flag Thu Nov 3, 2011 Home Selling in 10001
Voices Member,  in
Voices Member asked:
A fellow Realtor has a $4M short sale listing with 2 loans. Can the buyer receive $150K via a homestead exemption? The property is in NYC and the 1st position lender previously approved a Hud including this exemption but the net proceeds did not pencil in line with the second loan. My hunch was no s...
0 votes Share Flag Tue Nov 1, 2011 Home Selling in 10011
Gannon Forre…, Real Estate Pro in New York, NY
Gannon Forrester answered:
NYC: FSOB with 4% commission or co-broke at 5%. What is better for selling my apt?
Its always better to list with a broker. We have the ability and the resources to do an extensive marketing campaign. I know that i make sure that every newspaper, being a free source ... more
0 votes Share Flag Wed Oct 26, 2011 Home Selling in New York
Anna Brocco, Real Estate Pro in Nassau County, NY
Anna Brocco answered:
Do you think a good moment to sale a coop HDFC apartment?
If you need to sell, are ready to sell, no reason not to condider the idea...
0 votes Share Flag Tue Oct 11, 2011 Home Selling in New York
Jenet Levy, Real Estate Pro in 10012
Jenet Levy answered:
NYS non resident capital gain 6.85 on coop sales, could i include in flip tax calculation. When this tax has been paid on closing, or on?
This is something you really should discuss with your accountant. Flip tax is generally paid at closing.
0 votes Share Flag Sat Aug 27, 2011 Home Selling in 10011
Nick Rafello, Real Estate Pro in New York, NY
Nick Rafello answered:
My agent asked me to calculate flip tax I am liable for selling coop in NYC
Send me your email and I will send you a seller's closing cost sheet.

Nick Rafello, V.P.
Associate Broker
The Corcoran Group
nrafello@corcoran.com
646-221-8321 cell
0 votes Share Flag Fri Aug 26, 2011 Home Selling in 10011
Roberto S Ji…, Real Estate Pro in New York
Roberto S Jimenez answered:
what is a fair broker fee for the sale of a house in queens ny?
Great question the broker can take a fee from 3 percent to 6 percent but in this market you can say 3.5 or four would be fair
0 votes Share Flag Fri Feb 1, 2013 Home Selling in New York
Anna Brocco, Real Estate Pro in Nassau County, NY
Anna Brocco answered:
what happens when you own co op under hdfc and you found a qualified buyer and then you find out the bldg is financially unstable?
The potential buyer will have access to the building's financials before the contract, therefore if he/she wishes to back out of the purchase, not much can be done....
0 votes Share Flag Sun Jul 31, 2011 Home Selling in New York
Mitchell Hall, Real Estate Pro in New York, NY
Mitchell Hall answered:
1973: Gift of mid- income subsidized apt. built 1962 w.value fixed below mkt. 1990s privatised - value soars. how to calculate cap. gains?
Hi Lea,

You should contact a tax attorney or an accountant particulary one experienced in Mitchell Lama, HDFC or other limited equity subsidized properties that privatised. If the p ... more
0 votes Share Flag Sun Jul 31, 2011 Home Selling in 10023
Anna Brocco, Real Estate Pro in Nassau County, NY
Anna Brocco answered:
What happens when a NYC HDFC coop agreement is fulfilled at 25 years? Are there still income limits for resale/flip tax/money to the building/?
Consider consuting with an attorney who specializes in real estate, have all related paperwork reviewed, the Certificate of Incorporation, the Proprietary Lease and the By-laws, then g ... more
0 votes Share Flag Sun Feb 26, 2012 Home Selling in New York
Jenet Levy, Real Estate Pro in 10012
Jenet Levy answered:
NYC Coop sales- NYS tax form TP-584 which required to be signed by grantor and grantee- are they part of closing forms and prepared by management co?
Joseph,
You should consult your attorney. You really want to make sure this is done correctly. You have been asking questions about 1031 exchanges, and it is really important that the ... more
0 votes Share Flag Mon Jun 6, 2011 Home Selling in 10011
Sami, Real Estate Pro in New York, NY
Sami answered:
NYC coop flip tax. I am doing 1031 exchange , can i fight coop's flip tax?
Probably not, a 1031 exchange is an IRS code which does give you certain benefits however it has no control over coop regulations which you agreed to contractually when you bought in. H ... more
0 votes Share Flag Mon Jun 6, 2011 Home Selling in 10011
Mitchell Hall, Real Estate Pro in New York, NY
Mitchell Hall answered:
Is there any legal problem with a de-escalating flip tax, one that is lower the longer ou've held the unit?
Hi Anti Flipper,

Not that I know of but I think a de=escalating flip tax is a fair way to impose a flip tax. The flip tax was originally introduced back in the 70's/80's wh ... more
0 votes Share Flag Wed May 25, 2011 Home Selling in Gramercy Park
Christopher…, Real Estate Pro in 10591
Christopher Pagli - ABR, GREEN answered:
If I list my property with a Realtor what is the nrmal length of the listing agreement?
Hi, this all depends on the type of listing agreement you have with th agent. The time period is supposed to be mutually agreed upon and depends heavily on the absorbtion rate in your ... more
0 votes Share Flag Sat Nov 26, 2011 Home Selling in New York
Billy Chacon, Real Estate Pro in Manhattan Beach, CA
Billy Chacon answered:
If I have already instructed a Realtor can I list my property for sale on an FSBO property web site? And what are the implications?
Just liability. How much can you afford to loose? Trying to do things on you own without the best informed decision can cost you lots of money.
0 votes Share Flag Wed Mar 20, 2013 Home Selling in New York
Sally Grenier, Real Estate Pro in Erie, CO
Sally Grenier answered:
Estimate price of my condo in Manhattan
Talk to a local Realtor who knows your market. He/she will be able to do a comparative market analysis (CMA) which looks at recently sold properties that are similar to yours. They will ... more
0 votes Share Flag Tue May 24, 2011 Home Selling in 10128
Jennifer Chi…, Real Estate Pro in New York, NY
Jennifer Chiongbian- 917-250-2284 answered:
who pays for maintenance costs per month? Owner or renter?
The owner pays the maintenance (co-op) or common charges (condo) and not the renter. It is pretty complicated applying to a co-op where the board approval can take up to 4-6 weeks. A ... more
0 votes Share Flag Mon Apr 11, 2011 Home Selling in New York
Gary Geer, Real Estate Pro in Antioch, IL
Gary Geer answered:
How can 6% commission make any financial sense for a 1br Manhattan condo? If I sell mine for 680K, 40K of that will be broker's commission.
Lenoard,
Interview at least three agents and discuss your situation. They will either show you justification for the commission they charge or offer you alternatives.

All the best, ... more
0 votes Share Flag Wed Aug 15, 2012 Home Selling in New York
1 2 3 4 5 6 7 ...
Search Advice

Followers

2523
Email me when…

Learn more

Meet the Trulia VIPs
Ben Willig, Agent in 10014
Ben Willig
Agent
10014
Monet Dowrich, Agent in New York, NY
Monet Dowrich
Agent
New York, NY
Home > Q&A > New York > New York County > New York > Home Selling in New York
Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer