We Buy Houses Across New York

New York uses a judicial (court-supervised) process, typically taking 15 to 30 months from the first missed payments to a completed sale. New York is the slowest foreclosure state in the country: a 90-day pre-foreclosure notice, mandatory settlement conferences, and backlogged courts mean cases routinely run two to three years — long, but the debt and interest keep growing the whole time.

New York allows redemption any time before the foreclosure auction actually occurs, but nothing after the hammer falls. If you're behind on payments anywhere in New York, the earlier you act, the more equity and options you keep.

New York probate runs through Surrogate's Court and requires citation to all heirs — locating and serving distant relatives is a classic source of delay. Estates with real property almost always need full probate or administration. For heirs, the practical takeaway: expect roughly 9 to 18 months of administration for an estate with a house — and know that in most cases the property can be sold during that window rather than after it.

New York's state transfer tax is 0.4%, but NYC adds 1%-1.425% plus the mansion tax starting at 1% over $1 million — city sellers face some of the highest transfer costs in the U.S. In a typical network cash sale, the buyer covers standard closing costs and there are no commissions — so the offer you accept is very close to the number on your settlement statement.