Thursday, October 30, 2008

Buying New Construction in NYC

There things that we love with our new apartment: large windows, new appliances, new bathrooms and a new kitchen, new neighbors and not having to deal with an entrenched condo board.

There are things that we would rather not have had to deal with: paying the Seller's legal fees, paying for all the seemingly unfairly high costs of the  transfer such as the NY State and NY City real estate taxes and real estate transfer taxes, and the high title insurance costs.  It does seem unfair that the buyer covers these costs, but we've already paid them and there isn't much that we can do.  Does the buyer always pay the Seller's legal bills for condo transfers?

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