New York Seller Closing Costs & Net Proceeds Calculator
Estimate exactly what you'll walk away with after selling a home in New York. Defaults below reflect typical New York transfer-tax treatment, title custom, and seller closing costs.
Data last reviewed: August 2026
Estimated net proceeds — New York
$0
Enter a sale price below to estimate your net proceeds in New York.
Net Proceeds Calculator — New York
Defaults reflect typical New York practice. Edit any field to match your transaction.
Figures last updated: August 2026
Sale & loan
Commission
Post-NAR settlement: the buyer-agent share is negotiable. Switch to listing-only if you're not offering buyer-agent compensation.
Title & closing costs
In New York, the buyer customarily pays this. Informational only — the premium amount isn't included in the totals below.
Optional adjustments
Breakdown
| Gross sale price | $0 |
| Agent commission | − $0 |
| Mortgage payoff | − $0 |
| Title / escrow services | − $0 |
| Transfer / excise tax | − $0 |
| Recording fees | − $75 |
| Attorney fee | − $1,750 |
| Home warranty | − $0 |
| Repairs / concessions | − $0 |
| Property tax proration | − $0 |
| HOA dues owed | − $0 |
| Total deductions | − $1,825 |
| Estimated net proceeds | $0 |
State-specific seller details
Transfer tax
New York imposes a state real estate transfer tax of $2.00 per $500 of consideration (0.4%), customarily paid by the seller. A 1% mansion tax applies to residential sales of $1 million or more, but it is customarily the buyer's obligation, not the seller's, so it does not reduce your net proceeds (in NYC, additional progressive mansion-tax tiers apply). Sales within New York City also incur a separate NYC Real Property Transfer Tax (RPTT) on top of the state tax.
Closing structure
New York is an attorney state: a real-estate attorney customarily handles the closing for both buyer and seller, in addition to the title company.
Disclosure
Sellers are asked to provide a Property Condition Disclosure Statement under New York Real Property Law §462. In practice, many sellers instead provide a $500 credit to the buyer at closing in lieu of completing the form.
State income tax on the gain
Yes. New York taxes the gain on a home sale as ordinary income at its graduated state rates (with additional New York City income tax for NYC residents).
Agent commission
Real-estate commission is fully negotiable and typically falls within a customary range. Following the 2024 NAR settlement, buyer-agent compensation is no longer automatically seller-paid and is itself negotiable between the parties.
Last reviewed: August 2026
Source: New York State Department of Taxation and Finance and N.Y. Real Property Law §462.
Selling a home in New York: what to expect
Transfer / excise tax
0.4% (<$3M) / 0.65% ($3M+) state, applied to whole price — NYC adds 1%-1.425%+ local RPTT; buyer pays mansion tax 1%+. Brackets cover STATE portion only.
Title & closing custom
Attorney-state: attorneys conduct closings. Owner's title policy customarily paid by BUYER.
Recording fees vary; ~$50-$300+ depending on county and document length.
Typical commission
Around 5% of the sale price in New York, combining the listing-side commission and anything the seller agrees to offer the buyer's brokerage. Always negotiable — there is no set rate.
Typical total seller closing costs
About 1.5%-3.0% of sale price (significantly higher in NYC) (excluding agent commission).
Notes specific to New York
- New York charges a state RETT of 0.4% paid by the seller; NYC layers on its own RPTT of 1.0% or 1.425% on residential sales, also paid by the seller.
- The well-known "mansion tax" of 1%-3.9% on sales above $1M is paid by the BUYER, not the seller — but it can affect what buyers are willing to offer.
- New York is an attorney-state; both buyer and seller typically retain attorneys for the closing.
A real example: selling a median-priced home in New York
New York's median sale price was $526,267 in May 2026 (Redfin), up 4.8% year-over-year — even as the number of homes sold fell 7.5% from a year earlier. New York is an attorney-state, so unlike most of this batch, a real estate attorney (typically $1,000–$2,500, already folded into the closing-cost range below) runs the closing rather than a title company alone. Running the numbers: a 5% commission comes to $26,313, the state's 0.4% transfer tax adds $2,105, and closing costs of 1.5%–3.0% (higher than most states, reflecting the attorney fee and downstate costs) add roughly $11,841 at the midpoint — total deductions land near $40,259, about 7.65% of the sale price.
One line item that doesn't show up here at all: owner's title insurance. New York is one of the few states in this project where the buyer, not the seller, customarily pays for it. And if you're selling within New York City itself, budget for the city's own transfer tax of 1.0%–1.425% on top of the state's 0.4% — this statewide example doesn't include it.
Frequently asked questions — New York
Who pays the transfer tax in New York?
0.4% (<$3M) / 0.65% ($3M+) state, applied to whole price — NYC adds 1%-1.425%+ local RPTT; buyer pays mansion tax 1%+. Brackets cover STATE portion only.
What are typical seller closing costs in New York?
Excluding the real estate agent commission, sellers in New York typically pay about 1.5%-3.0% (significantly higher in NYC) of the sale price in closing costs. Attorney-state: attorneys conduct closings. Owner's title policy customarily paid by BUYER.
What is the typical real estate commission in New York?
Commission in New York is negotiated between the seller and the listing brokerage — combined rates commonly land in the mid-single digits, but there is no set rate. Since the 2024 NAR settlement, what the seller offers the buyer's brokerage (if anything) is negotiated in the purchase contract, not advertised on the MLS.
Do I need an attorney to sell a home in New York?
New York is an attorney-state; both buyer and seller typically retain attorneys for the closing.