In New York City, it is not just the real estate that is expensive. Whether you are buying a home, townhouse, condominium or cooperative, you will be on the hook for thousands of dollars in taxes and fees.
Ensuring you pay what you should and not getting stuck with more is just one of many reasons why experienced legal representation is essential. At Greenberg & Wilner in Manhattan, our attorneys guide individuals and families through residential real estate purchases, bringing clarity to a complex process.
Keeping An Eye On Your Costs
In New York City, every buyer of a co-op or other property is going to pay a "mansion tax" of 1 percent if the purchase price is higher than $1 million. Every seller in New York City will also have to pay separate city and state real estate transfer taxes, which may be passed on to the buyer in certain transactions.
Each type of property also has its own fees associated with it. Our lawyers pride themselves on helping clients fully understand what they are buying and what they are paying for. They can run all of the numbers for you to provide you with the transparency you need.
Another important aspect of the closing costs is making sure you get your money's worth. When you are buying a condo or a co-op, you want to make sure you are buying into a building that is run and spends your money effectively. We investigate the building and its board to help you close on a property that is worth the investment.
Call Greenberg & Wilner To Get Answers
Whether you are buying in Brooklyn, Queens or Manhattan, we know the market and the costs. To discuss closing costs and your real estate purchase, we invite you toschedule an initial consultation with one of our attorneys by calling 646-768-8787. Hablamos español.