Hundreds and sometimes thousands of dollars in closing fees are thrown around like confetti when buying a home in NYC. Of course, there are the big-ticket items such as a broker’s commission and mortgage transfer taxes...
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What Is The Difference Between A Property Title And A Property Deed?
Most people think a deed and title mean the same thing. However, it’s important you know the difference if you are about to enter into a real estate transaction. A Property Deed The easy way to know the distinction is...
Mortgage Recording Tax: All You Need To Know
Buying a property all cash is a luxury few can afford. For the fortunate, it means a number of cumbersome fees can be eliminated. A mortgage recording tax is one. Strictly speaking, it’s not a bank that charges the...
How much are real estate transfer taxes in NYC?
According to the New York State Department of Taxation and Finance, “New York State imposes a real estate transfer tax on conveyances of real property or interests therein when the consideration exceeds $500...
How much to pay in real estate attorney fees for NYC closings
What’s the average price for a real estate attorney’s fee in NYC? The real estate attorney’s fee is generally flat — around $2000 to $3000 per purchase for a “normal” transaction. An attorney’s fee will drop...
Title Insurance: What is it exactly and how does it work?
What is title search and title insurance? Both a title search and title insurance are important steps when buying a property. A title search looks at the current owner as well as all owners back to when the property was...
