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% / 15% 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: https://www.jreardonlaw.com/residential-real-estate-closings