Westchester Seller Closing Cost Calculator

The traditional real estate commission rate in Westchester is 5% to 6% of the sale price. The total commission paid by the seller is typically split equally between the listing agent and the buyer’s agent. There are several ways to save money on commission when selling in Westchester, including Hauseit Agent Assisted FSBO or 1% Full Service.

The NYS Transfer Tax rate in Westchester is 0.4% of the sale price. Note that Yonkers, Peekskill and Mt. Vernon charge sellers a city transfer tax on top of the NYS Transfer Tax.

Yonkers, Peekskill and Mt. Vernon charge sellers a city transfer tax on top of the NYS Transfer Tax.

Yonkers charges its own transfer tax of 1.5% on top of the standard 0.4% NYS Transfer Tax, for a total of 1.9% of the sale price.

Peekskill charges a city transfer tax of 1% in addition to the NYS Transfer Tax rate of 0.4%, for a total of 1.4% in seller transfer taxes.

Mt. Vernon levies a city transfer tax of 1% on consideration in excess of $100,000 in addition to the 0.4% NYS Transfer Tax on the entire purchase price. The combined city and state transfer tax rate in Mt. Vernon is approximately 1.4%.

The city transfer tax imposed by Yonkers, Peekskill and Mt. Vernon does not apply to co-ops.

The typical real estate attorney fee on a sale in Westchester is a few thousand dollars. Fees vary based on the complexity of the transaction and the experience level of your attorney.

If you’re selling a house, you will need to fill out a Property Condition Disclosure Statement or credit the buyer $500 in lieu of completing this form. Many sellers opt to pay the $500 penalty instead of filling out the form in order to reduce the risk of litigation.

If you have an existing mortgage, your lender will likely charge you a bank loan satisfaction fee of approximately $50 to $75 as part of your loan payoff. This fee is often referred to as a reconveyance release preparation fee.

If you’re selling a condo or co-op in Westchester, your building may charge a handful of closing related fees. These include a flip tax, move-out fee, move-out deposit and a closing fee.

How much are seller closing costs in Westchester?

How to reduce your closing costs when selling in Westchester

Seller closing costs in Westchester County are roughly 6.5% to 8%. However, you can pay as little as 1% to 2% in total closing costs by using a Hauseit Agent Assisted FSBO Listing. Another reduced commission option is a 1% Full Service Listing.

The largest seller closing costs in Westchester include broker commissions, NYS Transfer Taxes, city transfer taxes in the case of Yonkers, Mt. Vernon and Peekskill as well as seller attorney fees.

Additional seller closing costs in Westchester include bank loan satisfaction fees if you have an outstanding mortgage, the property condition disclosure waiver fee if you’re selling a house as well as building fees if you’re selling a condo or co-op.

You can pay as little as 1% to 2% in total closing costs by using a Hauseit Agent Assisted FSBO Listing. Another reduced commission option is a 1% Full Service Listing. Both options will reduce your closing costs versus a traditional, full-commission listing.