New York City Real Estate Sales & Rentals

NYC Buyers

Why Buyer Need Exclusive Buyer Agent?
Real estate buyers often assume that a real estate agent who lists a property for sale will have the purchaser’s interests as a priority. This person is actually the “Seller’s Agent”, whose main duty is to the property owner, who in turn would like to obtain the highest price possible.
 It is essential to have your own representative who clearly and solely represents your interests, i.e. a “Buyer’s Agent.” The service of a Buyer’s Agent does not add to the cost of purchasing a property. Fees for my services as the Buyer’s Agent are paid by seller in the form of the tradition commission structure: half the commission goes to the Seller’s Agent and the other half goes to the Buyer’s Agent.
 In my position as your Buyer’s Agent, I exclusively represent you, your needs, and goals while providing extensive expertise, knowledge of the local market, and unbiased assistance in finding, managing and negotiating the purchase of real estate. It is in fact my fiduciary responsibility is to obtain the best price and terms for you, the Buyer, as well as for you receive undivided loyalty, integrity, superior service, confidentiality & results.
Be Wary Of Dual Agency – Department of New York State: Learn more

My service is 100% free of charge for buyers as the seller pays all broker fees.

Expert guidance and local market knowledge is essential in the sometimes demanding process of purchasing Manhattan real estate. Equally important is a clear and attentive focus on the buyer’s needs and goals. My buyer services includes:
-24/7 Availability
-Professional and genuine education of real estate market
-Comparative market analysis and extensive market data
-Transparent guidance throughout the entire purchase process
-Access to entire active market inventory
-Assistance in selection of service providers. Attorneys, Mortgage Brokers, Architects and more.
Closing Costs for Buyers
– presented as general guidelines

PLEASE NOTE - the following is presented as general guidelines and are not meant to be accounting or legal advice.  All persons should consult their own attorney or financial advisor for more information.  No representation or warranty is made with respect to any of the information presented below.

For Condominiums & Townhouses
Personal Attorney FeesApprox. $1,750 +
Mortgage Bank Fees0% to 3% of the loan amount (points)
Credit reports, applications and appraisal$500 – $1,000 +
Mortgage Bank Attorney$400 +
Real Estate Tax Escrow2 to 6 months of tax amount
Mortgage Recording Fees$200 – $300
Mortgage Recoding TaxUp to $500,000 is 1.8% of the mortgage
Over $500,000 is 1.925% of the mortgage
Title Insurance, Title Search and Recording FeesApprox. 0.5% of the purchase price
Managing Agent Fee$250 – $500
Common Charge Adjustmentspro-rated for the month of closing
Mansion Tax1% of the total purchase price if over $1 million
Move-In Deposit$500 – $1,000 (usually refundable if no damage)
For Sponsor Sales and New Developments, purchaser usually pays the following:
NYC Real Property Transfer Tax1% of the total purchase price if $500 K or less
1.425% of the total purchase price if over $500 K
NY State Real Property Transfer Tax0.4% of the total purchase price
Sponsor’s Attorney Fee$1,500 +
For Co-op Apartments
Personal Attorney FeesApprox. $1,750 +
Mortgage Bank Fees0% to 3% of the loan amount (points)
Credit reports, applications and appraisal$500 – $1,000 +
Mortgage Bank Attorney$400 +
UCC-1 Filing Fees$50 +
Recognition Agreement Fee$200 +
Lien Search$250 – $350
Maintenance Adjustmentspro-rated for the month of closing
Managing Agent Fee$500 +
Credit Report Fees$50 – $100 per applicant
Mansion Tax1% of the total purchase price if over $1 million
Move-In Deposit$500 – $1,000 (usually refundable if no damage)

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