What Does It Cost to Sell a Home in New York?
There is no single percentage that fits every sale. Your costs depend on price, property type, location, mortgage and other liens, negotiated agreements, condition, buyer credits and your tax situation. For Long Island and Nassau County homeowners, start with your own property and agreements—not a generic budget.
New York State transfer tax
The statewide base real estate transfer tax applies when consideration exceeds $500. It is $2 for every $500 or fraction thereof. That is approximately 0.4% for ordinary estimates, but each partial $500 unit rounds up. The base tax is generally paid by the seller/grantor, subject to the contract and exemptions. The calculator assumes the expected price is the taxable consideration and includes only this base tax.
Buyer mansion tax and NYC rules
The additional 1% mansion tax on residential consideration of $1 million or more is generally paid by the buyer. It is not included in this default seller estimate. New York City has additional rules and taxes, including additional state taxes on certain NYC conveyances. This guide does not cover every NYC-specific tax. Ask your attorney for a transaction-specific estimate if the property is in NYC.
Brokerage compensation is negotiable
There is no mandatory commission rate. Review your signed agreement and enter the compensation that applies to your transaction as a dollar amount. Do not assume a standard rate or that another seller’s agreement is yours.
Payoff and legal work
Request dated payoff figures for your mortgage, HELOC and any other liens; a statement balance may not equal the payoff at closing. Discuss attorney/legal fees and any title, survey, recording or payoff items that apply to you. Who pays particular items depends on the transaction and agreements.
Condition, credits and your move
Budget separately for preparation, staging and moving/storage. Inspection-related repairs and buyer credits are transaction-specific and may change during negotiations. Use written estimates where available and avoid counting the same repair both as work and as a credit.
Prorations and closing adjustments
Property taxes, utilities, fuel or similar items may be prorated or adjusted at closing. Ask your attorney which adjustments apply, who receives a credit, and whether other title, survey, recording or payoff costs belong in your seller net sheet.
Income tax is separate from closing proceeds
IRS Topic 701 says qualifying main-home sellers may exclude up to $250,000 of gain, or up to $500,000 for certain married joint filers, subject to eligibility, including ownership and use tests. These are potential gain exclusions—not deductions from the sale price or a promise of tax-free proceeds. Federal and state income-tax considerations depend on your situation. Consult a qualified tax professional.
New York nonresident sellers
Nonresident sellers may have estimated New York income-tax filing and payment requirements, subject to exemptions. The 2026 IT-2663 instructions explain the requirements for covered sales of real property by nonresident individuals, estates and trusts. Do not assume a flat percentage of proceeds; ask your attorney and tax professional what applies.
Property address, property type, expected sale price and proposed closing date
Mortgage, HELOC and lien lender contacts; dated payoff quotes when available
Your brokerage agreement and attorney’s transaction-specific fee estimate
Recent property-tax bills and any applicable utility or fuel information
Written repair, preparation, staging and moving estimates; agreed buyer credits
Questions about ownership/use history, improvements, residency and tax eligibility for your tax professional
Is there a standard percentage for selling costs? No universal percentage is reliable for every property. Start with your payoff figures, negotiated agreements, transaction-specific estimates and tax situation. Brokerage compensation is negotiable, with no mandatory commission rate.
Does the calculator include mansion tax? No. The statewide 1% additional mansion tax on residential consideration of $1 million or more is generally a buyer tax. The default seller calculator includes only the statewide base transfer tax, not NYC-specific taxes.
What if my expenses exceed the expected price? The calculator shows $0 estimated net proceeds and separately identifies the estimated shortfall. That does not erase the amounts owed. Review payoff figures and the sale plan with your lender and attorney.
Are estimated net proceeds the same as taxable gain? No. Taxable gain and available exclusions follow separate rules. A qualifying main-home sale may qualify for an exclusion, but eligibility and federal/state income-tax consequences need review by a qualified tax professional.
Does this cover every New York City tax? No. This guide emphasizes statewide rules with practical relevance to Long Island and Nassau County. NYC has additional rules and taxes. Request a transaction-specific estimate for a NYC property.
Do I have to agree to marketing emails to get the worksheet? No. Only name and email are required for the printable worksheet request. Phone, address and marketing consent are optional, and there is no obligation to list or sell.
This is an estimate, not a closing statement or legal or tax advice. Actual proceeds depend on your transaction. Confirm costs with your attorney, lender and a qualified tax professional.
Reviewed November 2026
NYS Tax Department — Real estate transfer tax: https://www.tax.ny.gov/bus/transfer/rptidx.htm
NYS Department of State — Consumer guide: https://dos.ny.gov/consumer-guide-buying-selling-or-renting-real-estate-new-york-state
IRS Topic 701 — Sale of your home: https://www.irs.gov/taxtopics/tc701
NYS 2026 IT-2663 instructions (PDF): https://www.tax.ny.gov/pdf/current_forms/it/it2663i.pdf