Das Kaufangebot

Selling your home is a big financial and emotional decision. We’ll help guide you through the process to make sure that you feel comfortable every step of the way.

What can I expect as my closing costs?

If you are selling your home you will also incur closing costs. Knowing what these are upfront can help you plan your next move and make your transaction go smoothly. Generally, closing costs for selling a cooperative, condominium or townhouse property include the real estate commission you have agreed to pay your agent (6% of the purchase price), the mortgage principal remaining on the property, your real estate attorney’s fees (which vary), New York City real property transfer tax (which can be up to 1.425% of the purchase price), New York State transfer tax (0.4% of purchase price), move-out deposit ($500 and up) and other various fees. These costs are payable from sale proceeds.

What are my options if I don’t have a new place to live at the time of my closing?

The buyer of your home will expect the keys at the closing, but you may be able to work out a deal to rent the apartment from the new owner for a certain number of months. Or perhaps you can consider pursuing a sublet, a short-term rental or a furnished rental until you find a place to live. If possible, try to pick a date for the closing that will give you enough time to find a new residence.

What happens at a closing?

All of your paperwork will be with your agent when you go in for your closing appointment. You have a right to review your paperwork in advance of this meeting. You’ll need to bring a current photo identification with you to the closing, typically either a driver’s license or passport. Also bring any paperwork you feel you might need to refer to during the closing. This would include your original deed, warranty information, repair receipts, etc. Ideally all these items should have been reviewed and accounted for well before the closing time, so this is just precautionary. Some amounts owed may need to be paid by certified check; ask your attorney. For cooperatives and condops, the closing is usually held at the office of the management company for the building and is attended by the buyer, buyer’s attorney, you, your attorney, lender's attorney, a representative from the managements transfer dept., and the agent(s). With condominiums and townhouses, the closing is ordinarily held at the office of the seller or lender's attorney, with the buyer, buyer’s attorney, you, your attorney, lender's attorney, title company closer and agent(s) in attendance. Checks are exchanged for the keys to the apartment or house.