Asked and AnsweredI’m buying an apartment from a sponsor and the Offering Plan requires me to pay the sponsor’s transfer taxes and attorneys fees. Do I have to?
Maybe. In the old days of five years ago, the idea that you could ask the sponsor to pay his own transfer taxes would be laughable—not so today. The balance of power has shifted and sponsors are holding lots of inventory. There are many developers that will reluctantly agree to pay their own expenses just to get rid of another apartment. Remember, “if you don’t ask, you don’t get.” For more on this topic see "Paying Sponsor Closing Costs No Longer a Given".