Many buyers ask – Do I have to pay taxes when I sell my house in NY? The answer is yes. Sellers have to pay multiple taxes after selling a house in NY. Two of these are directly associated with the real estate transaction.
Who pays closing costs in NYC? Both buyers and sellers. They have their own set of closing costs that they either pay out of pocket or are rolled into the amount of the transaction.
One question that’s on the mind of almost anyone putting their house on the market in New York is – How much are closing costs for sellers in NY? The simple answer is around 6% (or between 4% and 8%) of the selling price. But it’s important to understand all the elements making up these costs.
How should you prepare a house before selling? Should you gut-renovate it or do some cosmetic work? Should you make repairs or just clean up? Every choice has its own set of limitations and impacts sales. The answer to the preparation question is also influenced by the type of house. When you are selling an apartment (whether co-op or condo), there is relatively little you can do to prepare it before the sale, and it’s limited to the interior.
How long does it take to sell an apartment in New York? That depends on a number of factors, including the market dynamics and the type of apartment you are selling. In some markets, buyers are trying to close as early as possible, while in others, apartments may sit on the apartment for several weeks before finding the right buyer.
Before you sell your co-op apartment, it’s important to know the answer to this question – What are the taxes on the sale of a NYC co-op? There are four taxes all co-op owners should know about.
Buyers and sellers alike are asking their peers and New York City brokers, “What is the market prediction for 2025?” Accurate predictions can help them make more informed decisions. Multiple brokers and experts generally predict that there might be many buyers in the market, albeit without a comparable number of sellers. So, the market, in general, will lean more towards sellers.
Is NYC a buyer’s or a seller’s market? This is a question many buyers/sellers have about NYC in general or about the city’s real estate during specific markets.
What is the NYC real estate outlook for 2025? Buyers, sellers, landlords, tenants, and even investors might have this question. The outlook doesn’t look really good for corporate investors since the introduction of good cause eviction does put limits on rent increases, even for market-rate apartments. A few predictions that may define the real estate outlook for 2025 for different stakeholders are
