What Should I Expect at Closing When Selling My Long Island Home?

What should I expect at closing when selling my Long Island home?
Closing is the final step of your home sale, where ownership officially transfers to the buyer. On Long Island, this process involves signing legal documents, paying off obligations, and receiving your net proceeds. Eric Berman REALTOR guides sellers through each step to ensure a smooth and stress-free closing.

Timeline Leading Up to Closing

• Contract Signing: After accepting an offer, attorneys draft and sign the contract of sale.

• Mortgage and Title Work: The buyer secures financing while the title company checks for liens or issues.

• Inspection and Appraisal: If not already completed, these occur before closing.

• Final Walkthrough: The buyer inspects the property one last time, usually 24–48 hours before closing.

What Happens at the Closing Table

At closing, you’ll meet with your attorney, the buyer, their attorney, and a title company representative. Documents are reviewed and signed to finalize the transaction.

Typical Seller Documents

• Deed transferring ownership

• Closing statement (itemizing fees and proceeds)

• Affidavits required by state or county

Funds Distribution

• Mortgage payoff (if applicable)

• Prorated property taxes and utilities

• Commissions and closing costs

• Net proceeds wired or provided by check

Seller Costs at Closing

• Transfer Tax: New York State charges $4 per $1,000 of the sale price

• Attorney Fees: Typically $1,500–$3,000

• Title and Recording Fees: Varies depending on county

• Any Credits to Buyer: As negotiated in the contract

Common Seller Questions

Do I Need to Attend in Person?

Yes, sellers typically attend closing in person on Long Island, but in some cases, a power of attorney can sign for you.

When Do I Need to Vacate the Property?

Usually by the day of closing, unless post-closing occupancy is negotiated.

When Will I Receive My Money?

Funds are distributed the same day or within 1–2 business days.

How Eric Berman REALTOR Helps

Eric ensures:

• All documents are prepared accurately

• Sellers know exactly what to bring

• Timelines are coordinated with attorneys and buyers

• You have a clear estimate of your net proceeds

Final Thoughts

Closing may feel overwhelming, but with the right preparation, it can be a smooth finish to your home sale.

Want a clear picture of your closing process?

Contact Eric Berman REALTOR today for expert guidance and a personalized closing plan.

Meta Description:
What should sellers expect at closing on Long Island? Eric Berman REALTOR explains the steps, documents, costs, and timeline for a smooth closing.