CLOSING COSTS FOR STATEN ISLAND HOME SELLERS

What are my closing costs when selling my Staten Island, NY home?

When selling a home in NYC you will encounter some fees and taxes that sound unfamiliar.

Here is a summary of what costs you should expect when selling your Staten Island home.

STATEN ISLAND HOME SELLER CLOSING COSTS

  1. NYC Transfer Tax for Residential Property:
  • If the sale price is $500,000 or less this tax = 1{12ca24a05342dbb53daaf6ac9e83dcd1d4a135542302ef678e31135aa120b5f7} of the sale price.
  • If the sale price is above $500,000 the tax = 1.425{12ca24a05342dbb53daaf6ac9e83dcd1d4a135542302ef678e31135aa120b5f7} of the sale price.
  1. NYC Administrative Fees: Residential Deed Transfers = $125
  2. NYS Transfer Tax: $4 per $1,000 of purchase price (.4{12ca24a05342dbb53daaf6ac9e83dcd1d4a135542302ef678e31135aa120b5f7} of purchase price)
  3. NYS Equalization Filing Fee: $125 (for one to three family and condo)
  4. Title Closer Pick-up/Payoff Fee (PER MORTGAGE): $175-$250
  5. Seller’s Attorney: $1,000-$2,000 estimated
  6. Property Condition Disclosure Credit: $500 (unless exempt)

These are just the main costs most sellers will encounter when selling their home.
If you happen to have questions feel free to contact me at 917-202-8309.

Disclaimer: Please note that these are estimates only and that potential sellers and purchasers MUST consult their real estate attorney for specifics. Please also note that we do not represent that the information in this guide represents the entirety of potential costs but is only to be used as a guide.