What Do Sellers Pay at Closing in Suffolk County, NY?

Data current as of November 2026

Selling a home in Coram, Mount Sinai, Port Jefferson Station, Miller Place, Rocky Point, Middle Island, Riverhead, or anywhere else in Suffolk County? The number that matters most isn’t your sale price. It’s what you take home after closing. This guide covers the closing costs a seller typically pays in New York State, what the buyer usually pays, and how to estimate your own costs before you list.

The short answer

In Suffolk County, a seller’s closing costs usually include the New York State transfer tax, the seller’s attorney fee, any agreed real estate compensation, the mortgage payoff and related fees, and adjustments for property taxes and utilities. The exact total depends on your price, your mortgage, and what you negotiate in the contract. Ask for a written net sheet before you list.

1. New York State transfer tax (paid by the seller)

The seller pays the New York State real estate transfer tax: $2 for every $500 of the sale price, or 0.4%. The NYS Department of Taxation and Finance says the base tax is “paid by the grantor (seller)” unless the contract says otherwise.

Illustrative estimate: on a home selling at $740,000, which was Suffolk County’s September 2026 median single-family price, the state transfer tax would be about $2,960 ($740,000 ÷ 500 × $2).

What the buyer pays: On sales of $1 million or more, there is an extra 1% “mansion tax.” The state says the buyer pays it. Sellers in the Brookhaven corridor rarely deal with it, but it can come up on higher-priced homes in Mount Sinai and Miller Place.

2. Riverhead: the Peconic Bay tax is usually the buyer’s

If you’re selling in the Town of Riverhead, the 2% Peconic Bay Region Community Preservation Fund tax is generally paid by the buyer, not the seller. In Riverhead it applies after a $150,000 exemption on improved property. Southampton, Southold, East Hampton and Shelter Island have their own rules.

Why should a seller care? Buyers count this cost when deciding what to offer, so it can affect how your price is received. Confirm the current figures with your attorney.

3. Your attorney and title-related costs

In New York, attorneys usually handle residential closings, and the seller pays their own attorney. Fees vary, so ask for a written quote early. Your attorney will also coordinate items the seller is responsible for, such as paying off and recording the satisfaction of your mortgage.

4. Real estate compensation is negotiable

What you pay your listing agent is negotiable and agreed to in writing before your home goes on the market. Since 2024, whether a seller also offers anything toward the buyer’s agent is a separate decision made case by case. Talk this through before you sign anything so it shows up correctly on your net sheet.

5. Your mortgage payoff and adjustments

Your remaining mortgage balance, any home equity line, and per-day interest up to the payoff date come out of your proceeds at closing. You’ll also see adjustments for property taxes and, where they apply, water or fuel oil. If you’ve prepaid taxes beyond the closing date, the buyer usually credits you back. If taxes are owed, you credit the buyer.

Tip for longtime owners: Get a payoff letter from your lender early, and confirm any old home equity line has been closed and released on record. A forgotten line can delay closing.

6. The disclosure form: no more $500 shortcut

Since March 20, 2024, most New York sellers of one- to four-family homes must complete the Property Condition Disclosure Statement. The old option of giving the buyer a $500 credit instead was removed. Filling it out is not a closing cost, but skipping it can cost you. Plan to complete it with your attorney before you list.

7. Repairs, credits and open permits

Credits you agree to after the home inspection come straight out of your proceeds, so they belong in your estimate. Older homes on the North Shore sometimes turn up open building permits or work done without a certificate of occupancy. Clearing these before you list can avoid last-minute costs and delays.

What about capital gains?

Many sellers owe no federal tax on the gain from their main home. The IRS lets you exclude up to $250,000 of gain ($500,000 for most married couples filing jointly) if you owned and lived in the home for at least two of the last five years. This is especially relevant for longtime owners. Talk with a tax professional about your situation.

How the market affects your bottom line

Suffolk County is still favoring sellers, which helps your net. In September 2026, the county’s median single-family sale price was $740,000, up 2.8% from a year earlier. Homes sold in an average of 40 days and received 101.0% of their original list price on average, according to OneKey MLS. Meanwhile, Freddie Mac’s 30-year mortgage rate averaged 7.18% on November 5, 2026. Higher rates can narrow the buyer pool at some price points, so pricing correctly from day one matters.

How to estimate your own closing costs

1. Start with a realistic sale price based on recent nearby sales.
2. Subtract the NYS transfer tax (0.4%).
3. Subtract your attorney’s quoted fee and the agreed real estate compensation.
4. Subtract your mortgage and any equity line payoff.
5. Allow for tax and utility adjustments, and a cushion for possible repair credits.

What’s left is your estimated net. A local agent can turn this into a written net sheet using today’s numbers.

Frequently asked questions

What closing costs does a seller pay in New York?

Usually the NYS transfer tax (0.4%), the seller’s attorney fee, agreed real estate compensation, mortgage payoff fees, and tax and utility adjustments.

Does the seller pay transfer tax in New York?

Yes. The NYS transfer tax of $2 per $500 of the sale price is paid by the seller unless the contract says otherwise.

Who pays the mansion tax in New York?

The buyer pays the 1% mansion tax on homes selling for $1 million or more.

Does a seller pay the Peconic Bay tax in Riverhead?

Generally no. The 2% Peconic Bay tax is typically paid by the buyer, after a $150,000 exemption in Riverhead.

Do I have to fill out the Property Condition Disclosure Statement?

For most one- to four-family homes, yes. The $500 credit option ended March 20, 2024.

Know your number before you list

Want to see what you’d walk away with? Book your free Seller Strategy Call. In 20 minutes, at no cost and with no pressure, we’ll look at recent sales near you, talk through your likely closing costs, and map out next steps.

James Acierno, Licensed Real Estate Salesperson
Real Broker NY LLC · 150 Motor Parkway, Suite 401, Hauppauge, NY 11788 · 631-682-4900

This article is general information, not legal or tax advice. Tax rates, exemptions and fees can change; confirm figures with your attorney and tax professional.