What Are the Costs Involved in Selling a Home in Long Island?

What are the costs involved in selling a home in Long Island?

When selling a home in Long Island, expect to pay agent commissions, attorney fees, transfer taxes, and possible repairs or staging expenses. Eric Berman, Realtor, breaks down each cost so you can plan ahead and maximize your net proceeds.

1. Real Estate Agent Commission

Typically the largest cost, commission in Long Island averages 5–6% of the sale price and is split between the listing agent and buyer’s agent. Eric Berman, Realtor, ensures that every dollar you invest in commission works hard for you through expert pricing, marketing, and negotiation.

2. Attorney Fees

In New York, sellers must hire an attorney to prepare and review contracts. Attorney fees typically range from $1,000 to $2,500. Eric can recommend experienced local attorneys who work efficiently and understand Long Island real estate law.

3. New York State Transfer Taxes

Sellers are responsible for New York’s transfer tax, which is generally 0.4% of the sale price. If your home sells for $1 million or more, the additional 'mansion tax' may apply to the buyer.

4. Title-Related Fees and Liens

While buyers usually pay for title insurance, sellers may incur costs resolving title issues such as liens or encroachments. Eric advises a pre-listing title review if you suspect there may be legal complications.

5. Home Prep and Staging Costs

Depending on your home’s condition, you may want to invest in cleaning, landscaping, painting, or staging. Eric helps prioritize improvements that yield the highest ROI and connects you with trusted local vendors.

6. Concessions or Repairs Negotiated During Contract

After inspections, buyers may request credits or repairs. Eric Berman, Realtor, helps you negotiate fair outcomes while preserving deal momentum.

7. Mortgage Payoff and Miscellaneous Costs

If you have an outstanding mortgage, your remaining balance will be paid off at closing. Additional costs may include HOA transfer fees or unpaid utility bills. Eric ensures these are accounted for so there are no surprises on settlement day.

Conclusion: Know Before You List

Selling your home in Long Island involves more than just finding a buyer—it requires smart financial planning. Eric Berman, Realtor, helps you understand and prepare for each cost so you walk away with confidence and clarity.

📞 Want a personalized breakdown of your potential selling costs? Contact Eric Berman, Realtor, for a custom net sheet and smart pricing strategy.

Meta Description

What are the costs of selling a home in Long Island? Eric Berman, Realtor, explains agent fees, taxes, staging, legal expenses, and more.