JEANNE REARDON - Attorney at Law
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Real Estate Law Blog

Seller's Closing Costs




The following schedule shows estimated closing costs
when selling real estate.  These costs are just estimates
and should be reviewed with your attorney.


SELLER’S REAL ESTATE CLOSING COSTS:

Transfer Taxes:

NYS Real Property Transfer Tax                    0.4% (.004) of purchase price

NYC Real Property Transfer Tax
(Usually paid by Seller,
 except on new contruction sale)
• Sales under $500,000                                    1% of purchase price
• Sales $500,000 and over                               1.425% of purchase price

Non-resident Gains Tax Withholding
(out of state seller)                                          8.82% of gain
 
Non-US Resident (FIRPTA)                            10% of price withheld or paid


Mortgage Payoff Fees: (if applicable)

Pick-up/payoff fee                                           $150-$250 each

Recording Satisfaction                                    $100-$300 each


Real Estate Broker Fee:

Commission                                                    6% of purchase price (negotiable)


Legal Fees:

Seller's Attorney                                             fee varies, but usually flat-fee basis (consult with your attorney)



To speak with an experienced real estate attorney about a closing, call us at (516) 314-8433.  To learn more about our real estate closing services visit us at: www.jreardonlaw.com/Real-Estate-Closings.html