Seller closing cost calculator in NYC

By far, your largest seller closing cost will be real estate broker commissions. Most traditional real estate brokers charge a whopping 5-6% to sell your home. For the average Manhattan apartment, that comes out to over $100,000. To lower this cost significantly, just contact Yoreevo! Your all in broker commission selling with Yoreevo will be 2-4%, saving you tens of thousands of dollars!

Both New York City and New York State charge a transfer tax when you sell real estate. The NYC transfer tax goes from 1% for properties $500,000 and under to 1.425% when over that amount. New York State also charges 0.4% for all sales under $3,000,000 and 0.6% for those $3,000,000 and over. On resales, transfer taxes are paid by the seller while on new development, the buyer is expected to pay (although this is negotiable).

A flip tax is a transfer tax paid to the building when selling instead of NYC or New York State. You may not be subject to this seller closing cost. It depends on your building. If you do not pay the flip tax, the building will not authorize your sale. While significantly more common in co-ops, condos sometimes have flip taxes as well. The structure and amount vary building to building but Yoreevo has found a flat 2% of the sale price to be the most common.

Just like when you bought your apartment, you will need an attorney to help you sell. Most will charge a flat $2,000 to $3,000 to execute your transaction.