Taxes & Law

The NYC Home Closing Process, Step by Step

From an accepted offer to keys in hand, a New York City closing runs about 60 to 90 days and moves through a sequence most first-time buyers have never seen. Here is the full map: attorney review, mortgage commitment, title search, the co-op board (if it applies), the walkthrough, and the closing table itself — plus a plain-spoken look at who is involved and what it all costs.

Si Zhang (Sunny)

Buying NYC Real Estate as a Foreign or Non-Resident Buyer

Non-citizens and non-residents can absolutely buy NYC real estate. The real work is in the structure: foreign-national financing, getting an ITIN, the 15% FIRPTA withholding that hits when you sell, LLC vs. individual ownership, and the $60,000 estate-tax trap most buyers never hear about until it's too late.

Queenie Zhuang

NYC Mansion Tax & Transfer Taxes, Explained

In New York, closing a home sale triggers three separate taxes — the NYS transfer tax, the NYC Real Property Transfer Tax, and the progressive "mansion tax" the buyer pays above $1M. Here is who pays each, the current brackets, and a worked example.

Kevinn Li

A Seller's Taxes and Net Proceeds in New York

Your sale price is not your payday. Here's a plain-spoken walk through commission, transfer taxes, attorney fees, the co-op flip tax, capital-gains tax, the Section 121 home-sale exclusion, and FIRPTA — with a sample net-proceeds sheet.

Christina (Yan Xue) Zheng

The 1031 Exchange, Plainly Explained

Sell one investment property, buy another, and defer the capital-gains tax — if you follow the rules exactly. A plain-spoken guide to like-kind exchanges: the 45-day and 180-day clocks, the qualified intermediary, "boot," and why your own home doesn't count.

Heidi Liu

Property Taxes and How to Grieve Them (NYC & Long Island)

Your property tax bill is partly a number you can argue with. Here's how homes are assessed, how NYC's tax classes work, and how to file a grievance in NYC, Nassau, and Suffolk — plus the STAR savings most owners forget to claim.

Jingjing Feng

Fair Housing: What Every Buyer and Seller Should Know

Federal Fair Housing protects seven classes — but New York State and New York City go much further, adding source of income, immigration and citizenship status, lawful occupation and more. Here is what steering is, what an agent legally cannot do, and where to file if your rights are violated.

Emma (Qian) Niu

Parents Buying for a Student: Title, Tax, and Visa Notes

Whose name goes on the deed, whether an F-1 student can legally own a home, how gift and FIRPTA rules work, and the quiet estate-tax trap every overseas parent should know about — explained plainly.

Lina Feng

NYC New-Development Tax Abatements (421-a and 485-x): How Much Do You Actually Save?

You tour a new condo, the carrying costs look almost too low — that's often a tax abatement. Here's what 421-a did, the 485-x program that replaced it in 2024, what to check before you sign, and how it hits resale.

Christina (Yan Xue) Zheng

Bringing Overseas Funds to Buy U.S. Property, Compliantly

Where your down payment comes from matters as much as how much it is. A plain-spoken guide to source-of-funds documentation, U.S. anti-money-laundering reporting, gift paperwork, and the capital-control reality of moving money abroad—plus why your bank and attorney should be the first calls you make.

Christina (Yan Xue) Zheng

Closing Costs in New York, Explained: A Buyer's Plain-English Guide

Beyond the purchase price lies a second number every New York buyer should know — here is a calm, line-by-line look at what closing actually costs.

Emma (Qian) Niu