WebJan 14, 2011 · The building spends $229 a month on utilities (gas, water, heat, electricity) for the unit, which is factored into the $1,000 a month fee. And if you take out the property taxes and underlying mortgage, the monthly fees drop to around $555/month (still high, but not exorbitant) to cover maintenance, operation and reserves for the building. WebBroker’s commission: to be negotiated before accepting an offer; Transfer taxes: 0.4% of the sales price to New York State for prices up to $3 million, and .65% for prices above. In New York City, 1% of the sales price if same is $500,000.00 or less and 1.425% if the price is more than $500,000.00.
How Real Estate Investors Get Paid
WebApr 19, 2024 · While condo owners can take advantage of lower-down payment mortgages, such as a 3 percent conventional loan, most co-ops require a down payment of 10 percent … WebA corporation that owns a co-op apartment building can borrow money to purchase that building, as well as finance the upkeep, maintenance and improvement of that building. The payments on these... pondy to chennai ship
Home Buying and Homeownership Glossary of Terms - InCharge …
WebJun 24, 2024 · Co-ops are run by a board of directors. Like in a condo, the board collects monthly maintenance fees and uses it to maintain the property. One of the biggest … WebFeb 1, 2024 · A: Your age should not impact your ability to take out a mortgage or a home-equity line of credit, known as a HELOC. But your co-op might have some restrictions on how much you can borrow. Like ... WebNov 21, 2024 · How do real estate agents get paid? Most agents in the U.S. work as independent contractors under a brokerage, where they earn money from either real … shanty thesaurus