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If You Dot Ask You Dont Get

Negotiating terms in real estate contracts has changed over the last few years due primarily to the change in market conditions. Only a few years ago it would have been unheard of for a builder or a sponsor selling a coop or condo to absorb the transfer taxes on the sale. In todays market however with the build up of inventory due to slow sales, it is more likely that such a seller may either agree to pay this expense or at least split the expense. This could result in savings of thousands to a purchaser. My philosophy is and always has been, even  when the market favored builders and sponsors, that “if you don’t ask, you don’t get”. So if you are a purchaser of real estate from a builder or sponsor,  don’t just give in to the fact that “these transfer taxes have always been an expense that purchasers pay “.  If your attorney is a skilled negotiator, you may be pleasantly surprised with the outcome if you just ask!

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