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Devlin McNiff is a different East End real estate office.
It is staffed entirely with full time professional agents who work
co-operatively with each other and in a completely candid and
creative way with you, the customer.
The atmosphere in the office at 3 North Main Street is upeat and friendly. You are greeted warmly and you will be taken care of professionally and enthusiastically whether you are interested in buying or renting and regardless of the size of your budget.
The owners of Devlin McNIff work side-by-side with the sales
agents and are up-to-date on virtually all the office's customers.
They are there to back-up and support your agent.
As a reminder, any real estate sign or advertisement you see, regardless of what company name is on it, can be shown to you by
your Devlin McNiff agent. We subscribe to the most comprehensive listing system in the Hamptons with up-to-date data on every
listings in our market area.
As a potential buyer of East End property, there are certain
taxes and closing costs that you should be aware of in advance.
Here is a brief summary of those taxes and costs that will
generally be paid by the buyer:
Taxes imposed on Real Estate Property Transfers
| Peconic Tax | |
| Amount: | 2% of Purchase Price over exempt amount. Generally $250,000 improved property or $100,000 unimproved property. |
| Payor: | Usually Buyer. |
| Technical Name: | Peconic Bay Region Community Preservation Fund. |
| Caveat: | Applies to co-ops, condos, commercial and residential real property. |
| Mansion Tax | |
| Amount: | 1% of Purchase Price. |
| Payor: | Usually Buyer. |
| Technical Name: | New York State Transfer Tax / Addition Tax. |
| Caveat: | Imposed on Sales of $1,000,000 or more - if improvement is or could be used as a residence. |
| Mortgage Tax | |
| Amount: | .75% (less $25.) of the Loan Amount. |
| Payor: | Usually Buyer. |
| Technical Name: | Mortgage Recording Tax. |
| Transfer Tax | |
| Amount: | $4.00 per $1,000. of Purchase Price. |
| Payor: | Usually Seller. |
| Technical Name: | Real Estate Transfer Tax. |
Other Possible Charges on Conveyances
| Survey | Usually Buyer |
| Home Inspections | Usually Buyer |
| Mortgage Broker Charges | Usually Buyer |
| Lender Charges | Usually Buyer |
| Title Insurance & Searches | Usually Buyer |
| Title Closer | Buyer &/or Seller |
| Real Estate Broker | Usually Seller |
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