buyer’s guide - rubin teamrubinteam.com/wp-content/uploads/2017/11/buyers-guide... · 2017. 11....
TRANSCRIPT
Josh Rubin attributes his success to his exceptionally strong work ethic and quick response time with sellers, landlords, and buyers alike. Josh’s strategy of treating every deal as if it were the GM building has paid off handsomely with some of his largest referrals originating from his smallest transactions.
With over 18 years of experience, he knows that every relationship must begin with intent listening to someone’s needs, then progresses with Josh as the bottom-line educator throughout the transaction process. Leaving no stone unturned, and no question unanswered, he focuses thoroughly on his client’s individual objectives, and continually strives to provide accurate information, sound advice, and well-targeted results.
Consistently a top producing agent, Josh has been named among the top 1% of all real estate brokers nationwide annually since 2005. Assertive yet patient, perseverant yet sure of when to step back, Josh works long and hard to attain people’s trust, and then reward their confidence with the best possible out-come.
Originally from Philadelphia, Josh attended the Tyler School of Art before moving to New York. Josh is the father of Leigha, Max, Daniel and Sarah, and enjoys music, dancing, art, skiing and travel.
Josh RubinAssociate Broker | T. 212.321.7111 | M. 917.727.6321 | [email protected]
Buyer’s TimelineThe Rubin Team Purchase Guideline
RUBIN TEAM | T. 212.321.7111 | [email protected]
Enlist the Rubin Team to handle your purchase
Retain a Real Estate Attorney
Submit and Negotiate an Offer (1 day to 1 week) We’re expert negotiators and we will get you the best possible price for your property!
Attorney Contract review (1 week)
After you meet with the board, the board will discuss the ap-plication and decide on approval. Often times this is decided and disclosed very quickly, but the timeline for approval varies for each building.
Offer Accepted!
Sign Contract, Buyer provides 10% deposit (1 – 3 days)
Loan Application and Commitment Letter (2 – 4 weeks)
Coop Board Interview (1 – 2 weeks)
Final Walkthrough of Property
Prepare for closing (1 – 2 weeks)
CLOSING TIME!
Closing Costs
FOR THE SELLERBroker: Typically 6%Own Attorney: Consult your attorneyProcessing Fee: $450+NYC Transfer Tax:Residential:Up to $500,000 = 1%$500,000+ = 1.425%Commercial:Up to $500,000 = 1.425%$500,000+ = 2.625%Admin. Fee:Non-Deed Transfers (i.e., Co-ops) = $50Residential Deed Transfers= $75Commercial Deed Transfers = $165NY State Transfer Tax: $4 per $1,000 of priceNYS Equalization Fee: $75Pick-up/Payoff Fee: $250-$500UCC-3 Filing Fee: $100Miscellaneous Condominium Charges: Vary by buildingNote: For condominiums in new developments, the Purchaser will pay costs normally paid by the Seller. These include Seller attorney fees as well as NY and NYC Transfer Taxes.
FOR THE PURCHASERBuyer’s Attorney: Consult your attorneyBank Fees: $350-$750Application Fee: $350Processing Fee: $330Appraisal Fee: $300-$1,500 (depending on sales price)Credit Report Fee: $10.10 single/$15.20 jointBank Attorney: $650-$750Tax Escrows: 2 to 6 monthsRecording Fees: $250-$750Fee Title Insurance: Amounts vary, please consult your attorneyMortgage Title Insurance: Amounts vary, please consult your attorneyMunicipal Search: $350-$500Mansion Tax: 1% of entire purchase where price is $1,000,000 or more.NYC Mortgage Tax (paid by borrower):a. Mortgage less than $500,000 = 1.80%b. Mortgage $500,000+ on 1-3 family residential dwelling = 1.925%c. Mortgage on all other property over $500,000.00 = 2.80%
ADDITIONAL REAL ESTATE EXPENSESCommon Charge Adjustment: Pro-rated for the month of closingReal Estate Tax Adjustment: Pro-rated depending on when the tax is collectedMiscellaneous Condominium Charges: Vary by buildingShort Term Interest: Equal to interest for balance of month in which you close
CONDOMINIUMS
Buyer’s Resource
RUBIN TEAM | T. 212.321.7111 | [email protected]
TOWNHOUSES & SINGLE FAMILY HOMESCO-OPS
FOR THE SELLERBroker: Typically 6%Own Attorney: Consult your attorneyCo-op Attorney: $450+Flip Tax: Typically 1% to 3% of price (if applicable)Stock Transfer Tax: $0.05 per shareMove-out Deposit/Fee: Varies by buildingNYC Transfer Tax:Residential:Up to $500,000 = 1%$500,000+ = 1.425%Commercial:Up to $500,000 = 1.425%$500,000+ = 2.625%Admin. Fee:Non-Deed Transfers (i.e., Co-ops) = $50Residential Deed Transfers= $75Commercial Deed Transfers = $165NY State Transfer Tax: $4 per $1,000 of priceNYS Equalization Fee: $75.00Pick-up / Payoff Fee: $250-$500UCC-3 Filing Fee: $100Miscellaneous Coop Charges: Vary by building
FOR THE PURCHASERMORTGAGE CLOSING COSTSBuyer’s Attorney: Consult your attorneyBank Fees: $350-$750Application Fee: $350Processing Fee: $330Appraisal Fee: $300-$1,500 (depending on sales price)Credit Report Fee: $10.10 single/$15.20 jointBank Attorney: $650-$750Lien Search: $250-$350UCC-1 Filing: $100Mansion Tax: 1% of entire purchase price where price is $1,000,000 or more.
ADDITIONAL REAL ESTATE EXPENSESMiscellaneous Co-op Charges: Vary by buildingRecognition Agreement Fee: $200+Maintenance Adjustment: Pro-rated for the month of closingShort Term Interest: Equal to interest for balance of month in which you close
FOR THE SELLERBroker: Typically 6%Own Attorney: Consult your attorneyNYC Transfer Tax:Residential:Up to $500,000 = 1%$500,000+ = 1.425%Commercial:Up to $500,000 = 1.425%$500,000+ = 2.625%Admin. Fee:Non-Deed Transfers (i.e., Co-ops) = $50Residential Deed Transfers= $75Commercial Deed Transfers = $165NY State Transfer Tax: $4 per $1,000 of priceNYS Equalization Fee: $75Miscellaneous Title Fees: $200-$500Pick-up / Payoff Fee to Title Closer: $100-$300
FOR THE PURCHASERMORTGAGE CLOSING COSTSBuyer’s Attorney: Consult your attorneyBank Fees: $750Application Fee: $350Processing Fee: $330Appraisal Fee: $300-$1,500 (depending on sales price)Credit Report Fee: $10.10 single/$15.20 jointBank Attorney: $650-$750Tax Escrows: 2 to 6 monthsRecording Fees: $250-$750Fee Title Insurance: Amounts vary, please consult your attorneyMortgage Title Insurance: Amounts vary, please consult your attorneyMunicipal Search: $350-$500Mortgage Tax - NYC (paid by borrower):1-3 Family Home or Condo:If mortgage is less than $500,000: 1.80%. If mortgage is $500,00 or more: 1.925% of loan amount
FOR THE SELLERBroker: Typically 6%Own Attorney: Consult your attorneyNYC Transfer Tax:Residential:Up to $500,000 = 1%$500,000+ = 1.425%Commercial:Up to $500,000 = 1.425%$500,000+ = 2.625%Admin. Fee:Non-Deed Transfers (i.e., Co-ops) = $50Residential Deed Transfers= $75Commercial Deed Transfers = $165NY State Transfer Tax: $4 per $1,000 of priceNYS Equalization Fee: $75Miscellaneous Title Fees: $200-$500Pick-up / Payoff Fee to Title Closer: $100-$300
FOR THE PURCHASERMORTGAGE CLOSING COSTSBuyer’s Attorney: Consult your attorneyBank Fees: $750Application Fee: $350Processing Fee: $330Appraisal Fee: $300-$1,500 (depending on sales price)Credit Report Fee: $10.10 single/$15.20 jointBank Attorney: $650-$750Tax Escrows: 2 to 6 monthsRecording Fees: $250-$750Fee Title Insurance: Amounts vary, please consult your attorneyMortgage Title Insurance: Amounts vary, please consultyour attorneyMunicipal Search: $350-$500Mortgage Tax - NYC (paid by borrower):1-3 Family Home or Condo:If mortgage is less than $500,000: 1.80%. If mortgage is $500,00 or more: 1.925% of loan amount
Buyer’s Resource
RUBIN TEAM | T. 212.321.7111 | [email protected]
Contacts
Name Address Email W M
Stuart Weiss 29 West 35th Street 6th Floor [email protected] 212.843.8850 917.846.7450
Andrew Grabiner 61 Broadway Suite 3000 [email protected] 212.344.0200 x103 516.445.5935
Barry Weidenbaum 708 Third Avenue, 22nd Floor [email protected] 212.832.7400 x15 917.882.1023
Andrew Luftig, Esq. 111 John Street, Suite 312 [email protected] 212.791.5993 646.430.8459
Kenny Volandes 80 Broad Street, Suite 303 [email protected] 646.768.4195 917.699.4558
Jerry Feeney 303 Fifth Avenue, Ste.405 [email protected] 212.842.0237 917.518.1471
Sandor Krauss 1040 Ave of the Americas, #1101 [email protected] 212.764.3377 646.387.6341
ATTORNEYSFocusing on Residential Real Estate in New York City
CONTRACTORS
Name Company T M Website Email
James Hartin Blue Line Construction 646.372.7044 bluelinenyc.com [email protected]
Suming Ming Li Public Contractors Inc. 917.299.3639 [email protected]
Waldek Dec Luva of NY, LLC 347.415.6914 luvapartners.com [email protected]
Andrew Pasek Luva of NY, LLC 917.751.9406 luvapartners.com [email protected]
Ben Leopold Leopold City Construction 917.494.1450 leopoldcityconstruction.nyc ben@ leopoldcityconstruction.nyc
Name Address Email W M
Greg Socha Wells Fargo [email protected] 917-260-1660 917.327.5492
Ryan Pratt Wells Fargo [email protected] 212-214-7743 347.866.9983
Ed Carrai Citibank [email protected] 212.986.9717 917.279.6977
Gary Faro First Republic [email protected] 212.259.3653 732.859.3021
Darin Fink Wells Fargo Home Mortgage [email protected] 212.805.1052 917.744.8863
Steven Lascher Wells Fargo Private Mortgage Banking [email protected] 212.805.1019 917.664.6812
Peter Malman Chase [email protected] 212.769.0400 914.774.6272
Michael Bensimon Sterling National Bank [email protected] 212.401.0854 718.408.5703
Chris Barlett Bank of America [email protected] 646.556.3577 212.203.7897
David Axelrod Bank of America [email protected] 646.556.0132 919.949.8272
Noori Rafael Citibank [email protected] 917.226.9042
Diane Meagher HSBC [email protected] 646.647.4609 917.405.0630
Stanley Zaldana HSBC [email protected]
LOAN PROVIDERS
Name Company W M Website Email
Judd Levine Maffucci Moving 516.384.6965 maffuccimoving.com [email protected]
Steven Bailey Roadway Worldwide Moving 800.338.8415 917.969.6030 roadwaymoving.com [email protected]
Zvi Manor Manor Movers 212.531.1213 917.578.5888 manormoving.com [email protected]
MOVERS