Sell your house for cash in New York

How to sell a house for cash in New York, step by step

1. Get your numbers first. Call your lender for a payoff statement and check your county tax bill. Run a quick estimate with our cash offer calculator so you know what a fair offer looks like.
2. Request several offers. One offer tells you nothing. Get at least two, from local investors, iBuyers that serve your area, or Cash Offer Desk where we buy, and check each one with the calculator.
3. Compare more than price. Look at the closing date, who pays closing costs and the transfer tax, the inspection period, earnest money, and whether the buyer will assign the contract.
4. Close with a professional. Attorneys for each side normally handle the contract and closing in New York, with a title company insuring title.
5. Get paid at closing. Your mortgage and any liens are paid from the sale proceeds, and the rest is wired to you or paid by check.

Wholesalers in New York

No wholesaling-specific law as of 2026. Selling your own contract rights as a principal is generally allowed, but marketing property for others requires a license under Real Property Law Article 12-A.

Wherever you live, ask every buyer one question: “Are you buying this house yourself, or will you assign the contract?” A wholesaler can still be a fine option if they are upfront about it. Read our guide to wholesaling for sellers before you sign.

Closing costs and taxes

The state transfer tax is $2 per $500 of price (0.4%), rising to 0.65% for NYC homes of $3 million or more, and the seller customarily pays it. Buyers pay a mansion tax starting at 1% on homes of $1 million or more, and NYC adds its own transfer tax of 1% or 1.425%, also usually paid by the seller.

Many cash buyers offer to pay closing costs. Get that in the contract, and ask which costs it covers. Capital gains rules are federal and state; a tax professional can tell you what you will owe.

Do you have to disclose problems?

The Property Condition Disclosure Act (Real Property Law 462) requires a disclosure statement for 1 to 4 family homes. Since March 2024 sellers can no longer skip it with a $500 credit. Transfers by fiduciaries administering an estate and foreclosure sales are exempt (RPL 463).

If you are behind on payments

All foreclosures go through court, with mandatory settlement conferences for many homeowners. ATTOM data reported by Nolo put New York's 2026 average at about 2,007 days, among the longest in the country.

Selling before a foreclosure sale can protect your equity and your credit, but watch for foreclosure rescue scams. Never sign your deed over to anyone outside of a formal closing. A free HUD-approved housing counselor can walk you through every option. More in our foreclosure guide.