Selling As-Is vs. Accepting a Cash Offer on Long Island
Compare an open-market as-is listing with a direct cash offer for a Long Island property, including price, speed, expenses and risk.
The sale price is not the seller’s net proceeds. A complete offer comparison should include transaction expenses, debt, liens, credits and carrying costs.
Part of the Long Island Seller Guide: Start with the Capital Gains Tax Guide, or browse all resources from the Long Island Home Seller Guide.
Potential Seller Expenses
Costs may include brokerage compensation, attorney fees, transfer taxes, mortgage payoff, liens, negotiated credits and transaction-specific items.
Brokerage Compensation
Review the actual listing and transaction agreements rather than assuming a generic percentage.
Transfer Taxes and Tax Advice
State or local transfer taxes may apply. Rules and rates can change; obtain current advice from an attorney or tax professional.
Mortgage Payoff and Liens
The payoff can differ from the principal balance. Judgments, tax liens and other claims may reduce proceeds.
Holding Costs
Taxes, insurance, utilities, mortgage payments and maintenance continue until the seller no longer owns the property.
Estimate Net Proceeds
Start with expected price, then subtract known and estimated expenses. Update the estimate as actual figures become available.
Get a Confidential Long Island Property Review
Montauk Dunes Real Estate can review the property’s location, condition, comparable sales, likely buyer demand and available selling paths. Legal, tax, inspection and specialized property questions should be addressed by the appropriate qualified professionals.