Not sure how often they are updated ie. would a lien from 3 weeks ago be up yet. Not sure.
But in general, they seem pretty accurate. An amazing resource to have on-line actually.
How do you find the actual sale price for a coop that sold in 2008? The sale price is not listed on the UCC-1. Do you have to wait for the 2008 year-end report to come out?
You got that right.
But Coops do pay both NYC transfer tax and NYS transfer tax. In addition to that there is also the "stock transfer Tax" and "flip tax" that coops have the exclusive privilege of paying. If you visit ACRIS you will see that coop filings use the terms NYS RETT and NYC RPTT.
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kgg wrote:
Not sure how often they are updated...
The UCC-1 and transfer documents are usually filed with the city at about the same time. Not to be confused with the nyc.gov Rolling Sales Update which is only updated periodically. I know for fact that the Rolling Sales Update is not 100% accurate.
The specific example that I'm referring to is about a year old.
Amity95Amity95 wrote:
How do you find the actual sale price for a coop that sold in 2008?...
That's what I'm talkin bout.
Usually the transfer is filed at about the same time and does includes the sales price. Sometimes, however, that is not the case.
I'm trying to figure out why sometimes the transfer docs are listed while other times they're not.
Any ideas anyone?
Does anyone know why there would be a recorded COOP sale in ACRIS with the UCC-1 but no RPTT or RETT?
Does anyone have an opinion as to the accuracy and completeness of ACRIS records?
Thanks
co-ops aren't real property, so there is no RETT paid on a co-op sale.
ali r.
{downtown broker}
Not sure how often they are updated ie. would a lien from 3 weeks ago be up yet. Not sure.
But in general, they seem pretty accurate. An amazing resource to have on-line actually.
How do you find the actual sale price for a coop that sold in 2008? The sale price is not listed on the UCC-1. Do you have to wait for the 2008 year-end report to come out?
Front_porch wrote:
Coops aren't real property...
You got that right.
But Coops do pay both NYC transfer tax and NYS transfer tax. In addition to that there is also the "stock transfer Tax" and "flip tax" that coops have the exclusive privilege of paying. If you visit ACRIS you will see that coop filings use the terms NYS RETT and NYC RPTT.
==========================
kgg wrote:
Not sure how often they are updated...
The UCC-1 and transfer documents are usually filed with the city at about the same time. Not to be confused with the nyc.gov Rolling Sales Update which is only updated periodically. I know for fact that the Rolling Sales Update is not 100% accurate.
The specific example that I'm referring to is about a year old.
Amity95Amity95 wrote:
How do you find the actual sale price for a coop that sold in 2008?...
That's what I'm talkin bout.
Usually the transfer is filed at about the same time and does includes the sales price. Sometimes, however, that is not the case.
I'm trying to figure out why sometimes the transfer docs are listed while other times they're not.
Any ideas anyone?
Thanks andwin, I stand corrected, it's the mortgage recording tax co-ops don't pay.
The "flip tax" however is not a tax but a fee imposed by the co-op corporation.
This article might provide more detail:
http://www.nysun.com/new-york/secret-plan-feared-to-tax-mortgages-on-co-op-homes/37103/
ali r.
{downtown broker}
Really...?
No one has any sort of guess why a UCC-1 would be filed but no transfer taxes?
Thanks for the article front_porch... Very interesting.
a