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Housing

Navigating the Complexities of Selling and Buying a Home in 2025

Strategic Insights

— 2 min read

In New York City's highly competitive housing market, navigating the dual process of selling and buying a home at the same time can be particularly daunting. According to Natalia A. Sishodia, a renowned New York City real estate attorney at Sishodia PLLC, having expert legal guidance is crucial to avoid common pitfalls and ensure that both transactions are properly handled. With over half of home sellers in 2025 also buying another property, the demand for knowledgeable legal support continues to grow.

Key Takeaways:

  • The average real estate closing in New York City can take up to 90 days from the time a contract is signed.
  • Closing costs for sellers in New York City may exceed 8% of the sales price, including real estate commissions, city and state transfer taxes, legal fees, and other expenses.
  • Buyers must be prepared to manage their own share of closing expenses, which can range from 2% to 5% of the property price, including lender fees, mortgage recording taxes, and title insurance.
  • Market conditions play a significant role in the decision to buy, sell, or manage both properties simultaneously.
  • Natalia A. Sishodia advises buyers to carefully consider whether they can afford a new purchase before selling their existing home, and to explore options like bridge loans or home equity lines of credit if necessary.
  • Weighing factors like market conditions, financial obligations, and potential risks is essential for making sound choices in the complex New York City real estate market.
  • Sishodia PLLC assists clients in preparing necessary documentation, reviewing contracts, and coordinating all stages of the sale and purchase to maintain compliance and reduce the risk of delays.
  • A New York City real estate attorney like Natalia A. Sishodia can help buyers and sellers clarify financial elements, such as closing costs and potential tax implications.

Sources:

  • Sishodia, N. (2025). Selling and Buying a House Simultaneously in 2025. Sishodia PLLC. https://sishodia.com/how-to-sell-and-buy-a-house-simultaneously-in-2022/
  • Sishodia PLLC. (n.d.). About Us. Sishodia PLLC. https://sishodia.com/

Statistics:

  • 90 days: The average time it takes for a real estate closing in New York City.
  • 8% or higher: The percentage of closing costs for sellers in New York City.
  • 2% to 5%: The percentage of closing expenses for buyers, including lender fees, mortgage recording taxes, and title insurance.
  • 2025: The year in which over half of home sellers in New York City are also buying another property.
  • $1 million or more: The price threshold for properties subject to the mansion tax in New York City.

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