New York Seller's Guide
Everything New York home sellers need to know about state transfer tax, NYC RPTT, attorney fees, co-op closings, and timeline.
Read the New York Seller's Guide →
New York Home Seller Net Proceeds Calculator
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Picking a city applies the correct local transfer tax automatically.
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Brokerage Commissions
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Total Commissions$0.00
Estimated Net Proceeds
-$2,500.00
Sale Price$0.00
Commissions- $0.00
Mortgage Payoff- $0.00
Total Transfer Tax (effective 0.00%)- $0.00
Owner's Title Insurance- $0.00
Escrow / Closing Fee- $0.00
Attorney Fee- $2,500.00
Recording Fee- $0.00
New York transfer taxes are state-, county-, and municipality-specific. Title insurance, escrow, attorney, and recording fees vary by provider. Consult your closing attorney or title company for exact figures.
Selling a Home in New York
New York sellers face one of the higher closing-cost profiles in the country. The state collects the Real Property Transfer Tax (RPTT) at 0.4% of the sale price (0.65% on residential sales over $3 million). New York City sellers pay an additional city RPTT on top of the state tax. Add agent commissions, attorney fees, owner's title insurance, and recording fees to estimate your net.
New York Transfer Tax & Closing Costs
New York uses an attorney-closing model — buyer and seller each retain counsel. Title insurance rates in New York are filed and consistent across underwriters; the buyer customarily pays the owner's policy, but custom varies upstate. Sellers typically pay the state RPTT (and NYC RPTT inside the five boroughs), their attorney fee, broker commissions, and any flip-tax owed to a co-op or condo board.
How to Estimate Your New York Net Proceeds
- Sale Price: Start with the agreed-upon contract price.
- Mortgage Payoff: Subtract your remaining loan balance and accrued interest through closing.
- Transfer Taxes: Apply the state, county, and any municipal transfer tax owed by the seller.
- Closing Costs: Deduct commissions, owner's title insurance, attorney/escrow, and recording fees.
New York Net Proceeds = Sale Price − Mortgage Payoff − Commissions − Transfer Taxes − Closing Costs
Key Factors to Consider
- State RPTT: 0.4% on residential sales up to $3 million; 0.65% above $3 million. Applies statewide.
- NYC RPTT: Inside the five boroughs, sellers also pay a city RPTT: 1.0% on residential ≤ $500,000; 1.425% above $500,000.
- Mansion Tax: A graduated mansion tax (1%–3.9%) applies on sales of $1M+, but it is paid by the BUYER and is not deducted from your net.
- Attorney Fees: Both sides retain a real estate attorney in New York — typically $1,500–$3,500 for the seller.
- Flip Tax (Co-ops & Condos): Many NYC co-ops and condos impose a flip tax (often 1%–3% of sale price) — confirm with your building's offering plan.
Why use this tool?
Most national net-sheet calculators ignore New York's layered transfer tax structure — state, county, and municipal — and silently understate closing costs by thousands of dollars. This calculator applies the correct rates for the city you select so the bottom line reflects what you'll actually walk away with.
Need more accuracy?
This tool provides general estimates only. Confirm exact figures with your closing attorney or title company, and consult a qualified tax professional regarding state and federal capital gains or other obligations specific to your sale.