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Home Buying in 10306 : Real Estate Advice

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  • Home Buying14
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Activity 12
Sun May 1, 2016
Sally Grenier answered:
Any local REALTOR will be able to help you with a list of recently sold homes.
0 votes 1 answer Share Flag
Sun May 1, 2016
Deest31 asked:
Sun Jul 7, 2013
Joseph Runfola answered:
Hello MyRee, again the answer is yes, What are you waiting for? I'm ready to assist you. 94 choices await you.
0 votes 14 answers Share Flag
Wed Mar 13, 2013
Cindy Cheung answered:
Hi,
For selling over $500,000 the transfer tax 1.425% .
$ 4 dollars Stamp tax every $1000

if you have any questions, Please feel free to contact me.
Regards,
Cindy
0 votes 2 answers Share Flag
Tue Jan 8, 2013
Gail Gladstone answered:
Brenda,

After Sandy, homes in contract were supposed to be re-inspected to remove any doubts about post Sandy condition.

Can you prove the seller lost their job? What does your attorney say about all of this?

Call Darren Sheehan, Esq. for a consultation. 631-659-3377 darren@darrenesheehanlaw.com. He will provide you with the information you need.

gail@GladstoneGroupRealty.com
631-425-6150
... more
0 votes 7 answers Share Flag
Tue Jan 1, 2013
Linda Beam answered:
there are many factors considered when seeking a mortgage - not just income. lenders today look at FICO scores, your credit report which shows your debt, credit worthiness, ability to pay, and more. Call a trusted mortgage professional. if you need any suggestions, please contact me. Lindabeam@ optonline.net ... more
0 votes 8 answers Share Flag
Wed Jul 18, 2012
Justine Address answered:
http://www.tax.ny.gov/bus/transfer/rptidx.htm

Hope this helps.

It is assumed that the Seller has to pay transfer taxes on a resale but it could be in negotiation regarding who pays it. If the purchase price is agreed between the buyer and seller, the seller doesn't have to pay the taxes.

It is the same theory when it comes to new constructions. Depending on how both sides feel about the final agreement on the purchase price, the buyer can always ask the seller to pay for transfer taxes and the seller can come back for paying half. There is no law to this issue, it all depends on the negotiation as far as I know.
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0 votes 6 answers Share Flag
Sat Sep 10, 2011
Joseph Runfola answered:
Those who have knowledge, don't predict. Those who predict, don't have knowledge.
0 votes 6 answers Share Flag
Wed Jun 24, 2009
Joseph Runfola answered:
Square footage differences, improvements, updated assessments, recent sales, present market value, and tax exemptions all factor in. A potential buyer will need to know the true tax when calculating his/her expenses. Some examples of exemptions are "Gold Star" (parents who have lost a child in combat), Elderly exemption (given to certain homeowners aged 65 or older with modest incomes), Veterans exemption (qualified veterans who served during a conflict may receive partial property tax exemption of 15% of the value of a primary residence), Star Program (School Tax Relief Program), and enhanced STaR. I hope this information has been helpful. Please visit us at www.clovelake.com ... more
1 vote 2 answers Share Flag
Mon Mar 16, 2009
Team Real EstateSINY answered:
Hi Ellen,
I'm not clear about who is handeling this short sale for the homeowner. However based on my experience the final step meens that the bank is reviewing the offer, compariong it to the appraisal and then forwarding it to the investor/s for review and approval. The usual time for each step is 30 days.
Good luck to you. I hope you get to buy this house.
... more
0 votes 2 answers Share Flag
Wed Feb 18, 2009
Arlene Trunzo, CRS,GRI,SRES answered:
Hi Gina,

Most builders require the buyers to pay the transfer tax (City tax) and doc stamps (state tax) .
You should check with the builder of the home or your Real Estate agent, if you are working with an agent.
It is best to know ahead of time if this is the case with your transcation.

The transfer tax for a new home that costs over $500,000 should be 1.47% of the purchase price. Up to $500,000 it's 1% of the purchase price when the selling price is higher, the tax goes up .

The doc. stamps is $4.00 per each 1,000 of the purchase price.

It is important that you check with your attorney and the builder because there may also be additional fees involved. Installing of the water meter, updating of the survey etc. Your lender and or your attorney will be able to supply you with a itemized list of all the closing costs.

The very best of good luck to you.
... more
1 vote 1 answer Share Flag
Wed Sep 17, 2008
Johnathan Smith answered:
are you looking at short sales? in most cases the sellers pay them!
0 votes 3 answers Share Flag
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