Many Long Island homeowners are shocked at the closing table, not because they were misled, but because no one walked them through the full math early enough. In real estate Long Island transactions, the sale price is not the take home number. Understanding this upfront protects decision making.
Let’s look at real numbers. A $750,000 sale in Suffolk or Nassau County typically carries total seller costs between seven and eight percent. That includes commissions, New York State transfer tax, attorney fees, and seller side title adjustments.
Commissions alone often total around five percent, or $37,500. The NYS transfer tax adds roughly $3,000. Attorney fees range between $1,500 and $2,500. Other costs vary, but by the time keys change hands, sellers are often looking at $55,000 to $60,000 in total expenses.
This is why pricing strategy matters. Overpricing by $50,000 does not protect profit. It risks it. A stale listing often leads to concessions, longer carrying costs, and weaker negotiations. Buyers sense hesitation quickly.
For buyers, understanding seller costs creates leverage. Sellers who did not anticipate these expenses often resist early offers emotionally, then accept worse terms later when pressure builds. Truth early creates better outcomes on both sides.
