What Closing Costs Do Sellers Pay on Long Island?

When you sell your Long Island home, it's easy to focus on the sale price and forget about the expenses that come out of your proceeds. Understanding seller closing costs upfront helps you plan, avoid surprises, and know exactly what you’ll walk away with at the closing table.

The Most Common Seller Closing Costs

While closing costs vary, most Long Island sellers can expect to pay several standard fees.

1. Real Estate Commission

This is usually the largest expense and is agreed upon in your listing agreement. It is shared between the listing agent and the buyer’s agent.

2. Transfer Taxes

New York State charges a transfer tax when a property changes ownership. Some Long Island towns may have additional fees.

3. Attorney Fees

In New York, attorneys handle the closing process. Seller attorney fees typically range depending on complexity.

4. Title-Related Fees

Sellers may need to pay for:

• Title closer gratuities

• Title company administrative fees

5. Recording Fees and Municipal Charges

These can include:

• Payoff of open permits

• Final water readings

• Property tax adjustments

6. HOA or Condo Payoffs (If Applicable)

If you live in a condo or HOA community, you may owe:

• Move-out fees

• Special assessments

• Balance of monthly dues

Optional but Common Costs

1. Pre-Inspection Repairs

Some sellers choose to address issues ahead of time.

2. Staging and Cleaning Services

Presentation costs aren’t technically closing costs but are part of preparing to sell.

3. Buyer Credits

Sometimes, sellers offer a credit to help close a deal.

How Much Should Long Island Sellers Budget?

While every situation is different, many sellers can expect closing costs to total 5–8% of the sale price, including commission.

Eric Berman REALTOR® provides net sheets so you know exactly what to expect before listing.

Why Understanding Closing Costs Matters

Knowing your closing costs helps you:

• Estimate your net proceeds accurately

• Evaluate offers more strategically

• Decide whether repairs or credits make sense

Eric ensures you understand every cost before accepting an offer.

Final Thoughts

Closing costs are a normal part of selling a Long Island home, but they shouldn’t be a surprise. With the right preparation and guidance, you can feel confident about the numbers and walk into closing with clarity.

Eric Berman REALTOR® helps you understand your full financial picture from day one.

FAQs

What are the biggest closing costs for Long Island sellers?

Typically commission and transfer taxes. For a personalized breakdown, visit 👉 https://www.theericbermanteam.com/contact-us.

Can closing costs be negotiated with the buyer?

Sometimes. Eric can help you evaluate whether offering credits makes sense at 👉 https://www.theericbermanteam.com/contact-us.

How much should I expect to net from my home sale?

It depends on price, mortgage payoff, and closing costs. Request a net sheet at 👉 https://www.theericbermanteam.com/contact-us.

Do I have to pay transfer taxes when selling my home?

Yes—New York requires it. Eric can explain your estimated amount at 👉 https://www.theericbermanteam.com/contact-us.

Are attorney fees required for selling a home in New York?

Yes, sellers must have legal representation. For guidance and referrals, reach out at 👉 https://www.theericbermanteam.com/contact-us.

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