What Is the Cost of Selling a Home in Long Island?

What is the cost of selling a home in Long Island?

Selling a home in Long Island typically costs between 8% to 10% of the sale price. This includes agent commissions, closing costs, repairs, and potential taxes. Partnering with a trusted expert like Eric Berman, Realtor, helps you understand and plan for all expenses.

Understanding the True Costs of Selling Your Home

If you’re preparing to sell your home in Long Island, you’re probably wondering how much it’s going to cost. While your sale price is important, the net amount you walk away with depends on several selling expenses.

Average Selling Costs in Long Island

Here’s a breakdown of typical costs Long Island homeowners face when selling:

- Real Estate Agent Commission: Generally 5% to 6% of the sale price, split between buyer and seller agents.

- Attorney Fees: In New York, sellers typically pay $1,500 to $3,000 for legal representation.

- Transfer Taxes: New York State transfer tax is $4 per $1,000 of sale price. Nassau County may have additional local fees.

- Property Condition: Repairs, cleaning, or staging could add a few thousand dollars, depending on your home’s condition.

- Concessions or Credits: If buyers request repairs or credits, these can add up quickly.

- Miscellaneous Costs: Mortgage payoff fees, recording fees, CO/Smoke Detector certificates, etc.

Cost Example for a $750,000 Home

Let’s say you sell a home in Garden City for $750,000. Your approximate costs might look like this:

- Agent Commissions (6%): $45,000

- Attorney Fees: $2,000

- Transfer Tax: $3,000

- Staging/Cleaning: $1,500

- Total Estimated Costs: ~$51,500

Tips to Minimize Your Selling Costs

- Price Smart: Avoid overpricing, which can lead to longer time on market and more carrying costs.

- Invest Wisely: Small repairs and strategic staging can offer high returns.

- Review Offers Carefully: Don’t be afraid to negotiate repair credits or closing cost concessions.

- Work with a Trusted Local Expert: Eric Berman, Realtor, can help you understand where to invest and where to save.

Net Proceeds: What You Take Home

Your net proceeds equal your sale price minus the costs discussed. Knowing these ahead of time helps you plan your next move—whether it’s buying your next home, investing, or relocating.

Why Work with Eric Berman, Realtor

Eric Berman brings trusted local experience, negotiation skills, and strategic pricing to help Long Island sellers get the most out of their sale. He ensures you’re never caught off guard by hidden fees or confusing paperwork.

Note: Always consult a licensed attorney or tax professional for legal and financial matters related to your home sale.

Plan Ahead and Sell Smart

Selling your home doesn’t have to come with surprises. With the right strategy and expert guidance from Eric Berman, Realtor, you can feel confident about your costs—and your results. Reach out today to start planning your sale in Long Island.

---

Meta Description: Learn the true cost of selling a home in Long Island. Eric Berman, Realtor, breaks down typical fees, taxes, and ways to reduce your expenses.