Staten Island NY Selling A House

Are you selling property in Staten Island? Call our real estate attorneys today for personalized services at 718-442-3900!

Seller's Responsibilities

Plumbing, heating, central air conditioning, electrical and mechanical systems and appliances are required to be in working order in most residential real estate contracts. The roof must be free of leaks at closing or delivery of possession. Most buyers also insist that the premises be delivered free of any termite or other wood destroying organisms. Any defects in the home should be disclosed by the seller.

The seller must deliver an insurable title, meaning title that a licensed insurer would be willing to insure at standard premiums, as well as a Certificate of Occupancy. Vacant and broom clean possession of the property must be delivered at closing or within 5 days of closing.

Hiring a broker will help you sell your home, so call Michael M. Walsh today to get started!

Seller's Closing Costs

With residential property, the seller is required to pay the following:

  • NY City Transfer Tax of 1% of the sale price up to $500,000.00 and 1.425% over $500,000.00
  • NY State transfer tax of $2.00 per $500.00 of consideration or .4% (hence the total transfer tax is either 1.4% up to $500,000.00 or 1.825% for transactions $500,001.00 and higher)
  • Any mortgage liens or judgments would have to be satisfied and the title company insuring the purchaser will typically charge a pick up fee ($200-$250)
  • Recording fees for the satisfactions (based on the number of pages in the instrument); real estate broker (their fees are negotiated with the listing agency and can range from 3 to 6% of the sale price)
  • Attorney legal fee and any disbursements

Contact Michael M. Walsh Attorney at Law in Staten Island NY today.