What Are Closing Costs When Selling a Home in Manhasset?

Selling a home in Manhasset doesn’t just involve your sale price—it also includes several costs that come due at closing. Understanding these expenses early helps you plan your net proceeds and avoid last-minute surprises. With Eric Berman REALTOR, you’ll know exactly what to expect so you can make confident financial decisions.

Why Closing Costs Matter

Many sellers underestimate how much closing costs affect their bottom line. In Manhasset, closing costs typically range between 6% and 8% of the home’s sale price, depending on agent commissions, taxes, and legal fees.

Knowing these numbers upfront allows you to plan your next move with confidence—whether you’re buying another property, downsizing, or relocating out of state.

The Major Seller Closing Costs

1. Real Estate Commission

The largest cost for most sellers. While commissions are negotiable, they’re typically around 5–6% of the sale price, split between the listing and buyer’s agents.
Eric Berman REALTOR ensures your commission dollars work for you—funding high-quality marketing, targeted outreach, and expert negotiation to maximize your sale price.

2. Attorney Fees

In New York, every real estate transaction requires an attorney. Expect to pay between $1,500 and $3,500, depending on complexity and property type.

3. Transfer Taxes

Nassau County and New York State both charge transfer taxes on home sales:

• New York State: $2 per $500 of sale price (0.4%).

• Nassau County: Local recording fees may apply.
  These are typically paid by the seller unless negotiated otherwise.

4. Title-Related Fees

If there’s an existing mortgage, you’ll need a mortgage payoff statement and possible satisfaction recording fee. Title search and document preparation costs usually run between $500 and $1,000.

5. Unpaid Property Taxes or HOA Dues

All taxes and dues must be current at closing. Your attorney and title company will prorate these amounts to ensure everything’s squared away.

6. Repairs or Credits from the Home Inspection

Buyers may request repairs or a closing credit after inspection. Planning ahead by addressing maintenance issues can prevent these surprise costs.

7. Broker or Escrow Fees

Some transactions include smaller administrative or escrow fees, typically under $500.

Optional—but Smart—Pre-Sale Costs

These aren’t technically closing costs but can affect your bottom line positively:

• Staging or Cleaning Fees: $500–$2,000

• Photography and Marketing (included with Eric): No direct seller cost

• Compass Concierge: Pay nothing upfront; improvements reimbursed at closing

How to Estimate Your Net Proceeds

Here’s a simplified formula Eric uses when preparing your Net Sheet:

Sale Price
– Real Estate Commission
– Attorney Fees
– Transfer Taxes
– Unpaid Property Taxes or Liens
– Inspection or Repair Credits
= Estimated Net Proceeds

Having these numbers in writing ensures there are no surprises when you reach the closing table.

How Eric Berman REALTOR Simplifies the Process

• Transparent Communication: Every estimated cost explained clearly before listing.

• Data-Driven Pricing: Ensures your sale price offsets costs while maximizing returns.

• Local Expertise: Deep understanding of Manhasset-specific closing procedures.

• Proactive Coordination: Works closely with attorneys, title officers, and buyers to keep closing timelines smooth.

Selling your Manhasset home is one of your biggest financial decisions—understanding closing costs upfront turns it into a confident one. Eric Berman REALTOR helps you navigate every number, every document, and every decision so you walk away knowing you maximized your return.

FAQs

How much are average closing costs when selling a home in Manhasset?
Typically 6–8% of the sale price, depending on commissions and taxes. Ask Eric Berman REALTOR for a personalized estimate.

Do I pay the buyer’s closing costs too?
Usually no, but you might offer credits during negotiations. Contact Eric to learn when that makes sense.

Are commissions fixed or negotiable?
They’re fully negotiable under NAR’s updated rules. Reach out to Eric for clarity on how commission structures work.

Can I reduce my closing costs?
Yes—pricing, negotiation, and timing all affect your net proceeds. Eric Berman REALTOR can help you build a cost-efficient selling plan.

When do I pay these costs?
Most seller costs are deducted directly from your sale proceeds at closing. Ask Eric how this process works in Manhasset transactions.

Eric Berman, REALTOR®
Compass Greater NY
917-225-8596
eric@ericbermanre.com
www.theericbermanteam.com