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Frequently Asked Questions
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How does SBC Estates market my home to find buyers?At SBC Estates we use the power of the internet coupled with the network of agents on the MLS to attract high quality, qualified buyers for your listed home.
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Can SBC Estates offer advice on how to prepare my home for sale?Absolutely! With decades of experience in the real estate and property management business, we know how to properly prep any home. Anything from paperwork and permits, to alterations or repairs, even cleaning and staging... at SBC Estates we have the knowledge, relationships and resources to help get your home ready for sale.
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How much are home selling costs?Depending on your specific location (state/county/township/etc.) your closings costs can vary. When selling a home in Suffolk County NY, you can expect to pay roughly 10% to 15% of the home's sale price in total selling costs. The following is a list of costs to expect upon the closing of your home: Real estate agent commissions Attorney fee Deed transfer tax Title closer fee Escrow fees HOA fees (typically condos/co-ops) Mortgage(s) satisfaction fee Judgement(s) satisfaction fee Tax lien(s) satisfaction fee Prorated property taxes
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Do I have to be there for any open houses or showings?Never! We work around your schedule and do all open houses & showings.
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What home selling expenses are tax deductible?Selling costs You can deduct any costs associated with selling the home—including legal fees, escrow fees, advertising costs, real estate agent commissions, professional photography & video production costs, home staging fees, pre-sale home inspection fees, etc... MORTGAGE INTEREST You can deduct the interest on your mortgage for the portion of the year you owned your home. PROPERTY TAXES You can deduct the amount you paid in property taxes last year up to $10,000. HOME IMPROVEMENT AND REPAIRS If you made home improvements prior to selling your home, you can deduct those expenses as selling costs as long as they were made within 90 days of the closing. MORTGAGE INTEREST You can deduct the interest on your mortgage for the portion of the year you owned your home. CAPITAL GAINS TAX (Profit from selling your house) This tax exclusion (aka IRS 121 tax exemption) is technically NOT a deduction but it saves you a ton of money so we included it in this list. If you’re single you can exclude up to $250,000 of the capital gains from the sale. If you are married you can exclude up to $500,000. Disclaimer: We are not CPAs nor financial advisors. This content is for informational purposes only and should not be considered professional financial advice.
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How does SBC Estates determine the price to list my home for?Using a custom market analysis (CMA), SBC Estates will compare your home with others that have recently sold and come up with a realistic initial sale price that will attract buyers and drive competitive offers.
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What makes SBC Estates different from a "flat fee" real estate broker?Flat fee real estate brokers charge you a one time fee, so that YOU can post a listing on an MLS platform. Basically, your only paying for the platform for a certain amount of time... but YOU do all the work. You take all the calls, deal with all the people, do all the showings and compile all the paperwork. The flat fee real estate service requires a DIY mentality from the home seller. At SBC Estates, we charge only 1% of the final sales price and we do EVERYTHING so you don't have to!
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What is the total commission I pay SBC Estates to sell my home?Our total fee to list & sell your home through the NYS MLS system is 1%.
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Are there any hidden fees or fine print to worry about?Absolutely NOT! Our commission is 100% transparent. No fine print. You will have normal closing costs beyond our control (title fees/deed transfer tax/etc.) but all you pay us at closing is 1%.
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What are common closing costs for home buyers?Depending on your specific location (state/county/township/etc.) your closings costs can vary. Here is an example of some of the costs to expect at the closing when buying your home (exclusive of 3-20% Down Payment): Appraisal Fee: $300-$1,500 To determine the property's value Fee Title Insurance: $450 per $100,000 of sales price under 1M, +15% on $1M + To protect against future claims on the property's title PMI: $130 per $100,000 of loan To protect lender against future default Loan Origination Fees: 1-2% of loan For processing and underwriting the loan 1-2% of mortgage amount (aka points) Buyer Broker Commission: 1% of sale price (SBC Estates) Recording Fees: $250-$750 To register the deed and mortgage Escrow Deposits: 2-6 months For property taxes and insurance Buyer’s Attorney: $500-$1500 Bank Attorney: $600-$750 Bank Fees: $750 Application Fee: $350 Processing Fee: $330 Credit Report Fee: $10-$20 Municipal Search: $350-$500 NYS Mtg Tax: 0.80% of loan amount
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