Twenty years ago, if you wanted to read a real estate listing, you needed to know a whole set of abbreviations to read an ad that was crammed into three lines of newsprint. Today, the internet has made the three-line ad a thing of the past. Virtual tours let you see the apartment as though you were standing in the living room. Full-screen professional photographs bring out every detail in the apartment’s modern furniture, inviting the viewer to visit an open house.
At Reliance Realty, we are at the cutting edge of it all, bringing together the latest advances in photography and web design into a marketing platform head and shoulders above the rest. This platform will be used to market your property through both a collection of external sources and direct marketing to the NYC brokerage community.
We start by researching your home and its neighborhood. Our brokers are trained to use a variety of government and private databases to determine an accurate value of comparable properties in the neighborhood. With this information in hand, our brokers will meet with you to help you decide on the best price and marketing strategy. To market your home, we hire professional photographers who use their skill and equipment to give your home the glossy sheen normally reserved for architecture magazines and to set up virtual tours. We write pitch-perfect descriptions for your property and, finally, add the property to our state-of-the-art website.
When everything is ready, our agents instantly share your ad, now called a listing, with over 8,000 brokers throughout the city through broker-only data subscription services called Nestio and REBNY. Then, we post your listing to Craigslist, Google, the Real Deal, the New York Times, the Wall Street Journal and other select marketing partners.
Finally, it’s time to close the deal. Through years of experience, our agents know how to find the right clients for your property. They work hard to meet the client’s busy schedule and ensure the client sees your property in its best possible light. When a buyer is found, our agents use their expertise to make the transaction, and the paperwork, as simple as possible for both parties. This combination of a proven, hands-on approach with state-of-the-art marketing tools makes Reliance Realty a broker you can trust.
Estimated Closing Costs
For Condominium Apartments and Townhouses
FOR THE SELLER Broker Commission Seller's Attorney Managing Agent Processing Fee Move-out Deposit New York City Transfer Tax
New York State Transfer Tax Miscellaneous Title & Recording Fees Mortgage Satisfaction Fee Set by broker $1,250 and up $450.00 - $750.00 $500.00 - $1,000 1% of price for purchase of $500,000.00 or less 1.425% of price for purchase over $500,000.00 (Paid by Seller, except sale by Sponsor) 0.4% of price (paid by Seller, except sale by Sponsor) $100.00 $150.00 - $300.00
FOR THE PURCHASER Purchaser's Attorney Bank Fees: Points Application, credit check, etc. Bank Attorney Short Term Interest Tax Escrows Recording Fees Mortgage Tax
Violation Search Managing Agent Fee Common Charge Adjustment Real Estate Tax Adjustment Mansion Tax Title Closer Fee $1,250 and up
0 to 3% of loan amount $500.00 $450.00 - $750.00.00 Up to one month 2 to 6 months $150.00 2% of amount of mortgage on loans under $500,000.00 2.125% of amount of mortgage loans of $500,000.00 and over Title Insurance Rates vary by NY law as insurance increases $250.00 $250.00 Up to one month 1 to 5 months 1% of price where price is $1,000,000.00 or more $100.00 - $150.00
For Co-operative Apartments
FOR THE SELLER Broker Commission Seller's Attorney Co-op Attorney/Managing Agent Flip Tax Stock Transfer Tax Move-out Deposit New York City Transfer Tax
Transfer Tax Filing Fee New York State Transfer Tax Payoff Bank Attorney UCC-3 Filing Fee Set by broker $1,250 and up $400.00 - $800.00 Varies by building, if any $0.05 per share $500.00 - $1,000.00 1% of price for purchase of $500,000.00 or less 1.425% of price for purchase over $500,000.00 (Paid by Seller, except sale by Sponsor) $25.00 recording fee 0.4% of price (paid by Seller, except sale by Sponsor) $300.00 $25.00
FOR THE PURCHASER Purchaser's Attorney Bank Fees: Points Application, credit check, etc. Bank Attorney UCC-I Filing Short Term Interest Move-in Deposit Recognition Agreement Fee Lien Search Maintenance Adjustment Mansion Tax $1,250 and up
0 to 3% of loan amount Approximately $500.00 Approximately $450.00 - $800.00 $75.00 Up to one month $500.00 - $1,000.00 $250.00 $250.00 Up to one month 1% of price where price is $1,000,000.00 or more
*These are only estimates. Actual costs may vary.