We Buy Houses for Cash in New York

Selling in New York can mean transfer taxes, a mandatory disclosure statement, attorney fees and long waits for a buyer's financing. Swifty Home Buyers buys New York houses for cash, as-is, so you can skip repairs, showings and agent commissions. Different rules apply in New York City than in the rest of the state, and for co-ops and condos, so here is a plain-English guide to what matters.

We buy houses in all 50 states. This guide covers the rules that matter in New York.

New York State charges a transfer tax of $2 per $500 of the sale price, or 0.4%, and the seller generally pays it. On a $400,000 sale that is $1,600. Homes sold for $1 million or more also carry an additional 1% tax, generally paid by the buyer. New York City adds its own transfer taxes on top of the state's, so a sale inside the five boroughs costs more. Add attorney fees, any payoff of loans and liens, and agent commissions in a traditional sale and the costs are significant. With a cash sale to Swifty there are no agent commissions, and we put the numbers in writing before you commit.

New York foreclosures are judicial, so the lender must file in court. In residential foreclosure actions the court holds a mandatory settlement conference within 60 days of the filing of the summons and complaint, where both sides must negotiate in good faith. New York foreclosures can take a long time, but time does not fix the problem: interest, fees and legal costs keep building. Selling the house before a sale date can pay off the loan and may protect your equity. Talk to a New York attorney or a HUD-approved housing counselor about your options.

• Sell as-is
• Inherited house
• Foreclosure
• Tenants or rental property

New York City vs. the rest of the state

Inside the five boroughs, city transfer taxes apply in addition to the state tax. Outside the city the state tax is the main transfer charge, although recording and attorney costs still apply.