How the Calculator Works

This tool estimates your potential proceeds by subtracting common selling costs and your remaining mortgage balance from your expected sale price.

Enter your estimated:

• Sale price
• Remaining mortgage balance
• Real estate commission
• Transfer taxes and closing costs
• Attorney fees or concessions

Typical Costs When Selling a Home in New York

While every transaction is different, most home sales in New York involve similar seller expenses.

• Real estate brokerage commission
• New York State transfer tax (0.4% of the sale price)
• Attorney fees
• Mortgage payoff and bank fees
• Possible seller concessions

For many homeowners, total selling costs often fall somewhere between 6% and 8% of the sale price.

Why This Estimate Matters

• Determine whether selling now makes sense
• Estimate the equity you've built
• Plan for your next home purchase
• Understand how different sale prices affect your proceeds

Frequently Asked Questions

How do I calculate profit when selling a house?

Subtract your mortgage payoff and selling costs from your final sale price. Typical costs include commissions, transfer taxes, attorney fees, and closing expenses.

How much are closing costs when selling a house in New York?

Sellers typically pay the New York State transfer tax, real estate commissions, and attorney fees. Combined costs often fall between 6% and 8% of the sale price.

Do sellers pay title insurance in New York?

No. In most New York real estate transactions, the buyer pays for title insurance. Sellers are usually responsible for the transfer tax and clearing any title issues.

Want a More Accurate Estimate?

This calculator provides a quick estimate, but every property is unique. If you'd like a more precise estimate based on recent comparable sales and current market conditions, feel free to reach out.