has anyone ever sold a co-op before?

What are the costs involved in selling a co-op?

I googled and found a site that says that the brokers fees alone are 6% + a ton of other crap ... please tell me they're wrong - i don't have $15-20k for all these stupid closing costs (i'd already be losing money since i don't have any equity) .... PLUS, i'd still need $$$$$ for a down payment to a new place.

This sucks ... i love my apt but i really wish i never bought it so i wouldn't have to deal with all this BS now :-/

TIA

Re: has anyone ever sold a co-op before?

Did you use a broker? If so, look at your contract and see what her/his percentage is.

Call your co-op and find out if you pay a flip tax. Ask what percentage is. (for instance if you sold at 200,000 and your board charges 1%- 2,000. )

The only other cost should be your lawyer and bank lawyer fee which will total about 3k I guess.

Gotta call and ask them.


All in all probably 5k.

It's not like selling a house.