First-Time & Repeat Sellers FAQ: Questions New York Homeowners Ask
Hudson River Realtors | Referral Network Serving New York State
What is the biggest mistake first-time sellers make?
Overpricing. Emotional attachment and unrealistic expectations lead to a listing price that deters buyers and extends time on market. Trust your agent's data-driven comparative market analysis.
How much does it cost to sell a home in New York?
Typically 8-10% of the sale price in total closing costs — commission (5-6%), transfer taxes (0.4%), attorney fees ($1,500-$3,000), and miscellaneous charges.
How is selling as a repeat seller different?
You understand the process but may need to update expectations based on current market conditions. Trust your agent's current analysis rather than relying on your previous selling experience.
Can I buy a new home before selling my current one?
Yes, using bridge financing, HELOC, or savings to cover the overlap. Calculate worst-case carrying costs and ensure you can absorb them if your current home takes longer to sell.
What is a 1031 exchange?
A tax-deferral strategy for investment property. You reinvest sale proceeds into a like-kind property within specific timelines (45 days to identify, 180 days to close) to defer capital gains and depreciation recapture.
What is a sale-leaseback?
You sell your home and rent it back from the buyer for a defined period (typically 30-60 days), giving you time to complete your next purchase before moving.
How do I handle tenants during a sale?
Provide leases, payment history, and security deposit info. Give proper notice for showings (24 hours in NY). Consider incentives for tenant cooperation. Existing leases survive the sale.
How can Hudson River Realtors help?
We match you with an agent suited to your experience level — patient guides for first-timers, strategic advisors for repeat sellers, and numbers-focused agents for investors. The referral is free.