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Our Step-by-Step Guide to
Selling in NYC

1. Seller Consultation
2. Complete listing paperwork
3. Prepare your property for market
4. Develop our marketing strategy
5. Pre-market and promote your property to Compass Agents
6. List property online
7. Show property
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8. Review offers and negotiate optimal terms
9. Appraisal (if buyer is financing)
10. Review board application (if applicable)
11. Final walk-through
12. Closing!

Estimated Closing Costs

Broker Commission

  • Negotiable

Legal

  • Attorney: $2,500 - $5,000

Building

  • Co-op Attorney / Managing Agent Closing Fee: $400 - $1,000

  • Move-out Fee: $500-$1,000

  • Refundable Move-out Deposit: $500-$1,000

  • Flip Tax: Refer to Managing Agent (typically 1 - 3% of purchase price or $ per share)

  • NY Stamp Tax: $0.05 per share

Bank

  • Payoff Fees: $500 - $1,000

 

Government

  • Residential Transfer Tax:
    < $500K: 1.00%
    > $500K: 1.425%

  • Progressive NY State Transfer Tax:
    < $3M: 0.4%
    > $3M: 0.65%

  • Transfer Tax Filing Fee: $100

  • UCC-3 Filing Fee: $125

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