Final sale price and SE lag time

Started by esteban

over 14 years ago

Posts: 35

Member since: Jun 2010

Discussion about

Why is it that some coop sales have their final prices reported within 2-3 weeks and others don't seem to be reported for much longer (or never?) Is this something to do with lawyers missing a step? SE not picking up the date? Can an expert or someone from SE provide an explanation.

Response by NWT

over 14 years ago

Posts: 6643

Member since: Sep 2008

If it's been filed with the city, and hits ACRIS, then SE automatically picks it up.

Once SE has it, SE links it to the building and the sales listing. When the apartment numbers on both sides -- city and SE -- match, then it's quick. If a mismatch, then someone at SE manually does the final sale-to-listing link. In any case, the sale will be listed under the building.

NYC and NYS regulate the timing of the filing with the city. Since taxes are collected on transactions, there're penalties when filing is delayed.

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Response by ph41

over 14 years ago

Posts: 3390

Member since: Feb 2008

http://streeteasy.com/nyc/talk/discussion/27726-disappeared-listing

On the one I posted, the original sale listing on SE had "disappeared" and the SE tech couldn't find it on SE. It also did not show up on ACRIS. Oddly, about a week after extended dialogue with SE about the "disappeared" listing, it finally did show up - 8 1/2 months after the closing.

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Response by bjw2103

over 14 years ago

Posts: 6236

Member since: Jul 2007

esteban, this post by urbandigs should help:

http://www.urbandigs.com/2011/03/a_glimpse_into_the_acris_close.html

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