Everybody wants to know what it’s going to cost them at closing when they sell their house to my team and I. Actually, selling to a traditional buyer is going to be more expensive.
Do you want to know how much cash your house is worth today?
Everybody wants to know what it’s going to cost them at closing when they sell their house to my team and I.
Typically, selling to a traditional buyer is actually going to be more expensive than selling to me. The differences come down to the title and costs relevant to the mortgage.
Only a few real costs are incurred when selling to me. First, you’ll still have to pay the New York state transfer tax.
This constitutes $4 per $1,000 of the sale price. So if you sell me your house for $250,000, you would owe $1,000 in transfer tax cost. This is a cost you’ll need to pay whether you sell to me or to a traditional buyer.
Also, you must have a lawyer in the state of New York during a real estate transaction. This means you will have to pay their legal fee. Of course, the cost will depend on their level of service but it will likely range from between $750 to $2,000.
Finally, you may have some additional adjustment fees depending on the property. When you sell to me, there’s no real estate commission. Generally, closing with me will be between $2,000 and $3,000.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.