BLUNDER #2 - PAYING THE "STANDARD" COMMISSION

Real Estate commissions are negotiable in NYS. Period. The NY Dept of State, Division of Licensing,  Services handbook state as follows;

"The commission or compensation of a real estate broker is not regulated by statute or regulation, therefore the amount and terms are negotiable."*

Find the most knowledgeable real estate agent or broker willing to offer the best services, for the lowest price. Ask specifically what marketing will be done and the cost to you, in dollars and cents. Ask and you shall receive.

* The NY Dept of State, the Division of Licensing Services Handbook

 

BLUNDER #3 - PAYING THE "STANDARD" SELLER COSTS

Real Estate is generally sold using pre-printed forms, loaded with seller paid costs. Here are a few;

Real estate transfer tax, additional transfer tax, special additional mortgage tax, death certificates, bankruptcy court orders, affidavits proration of taxes, assessments, municipal charges, rents, common charges, fuel oil, water, pure water, sewer charges, permits certificates of compliance, certificates of occupancy, utility service continuation, lawn and landscaping care, snow plowing, real estate commissions, updated abstract of title, tax and US court searches, local tax certificates for village or city and a recent instrument survey map.

Take time to review the pre-printed form you're being asked to sign. Remove any costs you're unwilling or unable to pay. Any fees you can remove will put more cash in your pocket at closing.