Closing Costs in NYC?
Hi All!
I've been researching what the typical ball park percentage would be for closing costs in NYC. I've found a few resources that itemize what the expenses involve are, but not really price wise. I've even seen a little less than 3% of purchase price cited, but it didn't say if that was buyers costs or sellers costs or if that included the loan costs.
I'm a wholesaler and plan on assigning my contracts in most cases, but for those circumstances where I need to double close, I'd like a rough estimate of what the closing costs might be so I can adjust my offer accordingly.
I'm really looking for this kind of breakdown (if anyone is able to provide any piece of this it would be highly appreciated!):
-Approx sellers closing costs %
-Approx buyers closing costs % (w/o loan costs as if I was paying cash)
-Approx Loan costs %
(I'm not looking for Realtors commissions to be included above since I know that's 6% and can be negotiated/split btwn buyer and seller, etc)
Thanks!
Nicole