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ACRIS Closing Amount Off?

Started by 1BKCHK
over 15 years ago
Posts: 10
Member since: Jun 2006
Discussion about
We recently closed on a condo in Brooklyn, and the documents were listed within ACRIS today - but the amount listed is almost $10k more than the sale price agreed upon? Is there a reason why it would be more than the agreed upon sale price?
Response by bhh
over 15 years ago
Posts: 120
Member since: Sep 2008

smoke and mirrors everywhere.

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Response by NWT
over 15 years ago
Posts: 6643
Member since: Sep 2008

If you bought new construction or from a sponsor, the reported amount includes the RE taxes you paid. Check it against your settlement doc.

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Response by maly
over 15 years ago
Posts: 1377
Member since: Jan 2009

You may have paid the transfer taxes (normally paid by seller, but sometimes not for new construction.) The rate is 1.425% for sales aboves $500,000. Was your sale price $700,000?

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