Home Selling Guide
Home selling guide · Staten Island
Selling a house here works a little differently than it does in most of the country. New York closings run through attorneys. The city and state each take a transfer tax. And in 2024 the disclosure rules changed for every seller of a one to four family home.
This guide walks you through the whole thing: what you'll sign, what you'll pay, and how long it really takes. We're The Pinnacle Team at RE/MAX Edge, on Willowbrook Road. This is what we do every day.
Are you selling and buying at the same time, or just selling? If you need to buy on the other side, the order of operations drives everything, including whether you can take the strongest offer or only the one with the right closing date. Tell us early. We plan around it.
Not the number you're hoping for. The number you actually walk away with after your mortgage payoff, the transfer taxes, your attorney, and the brokerage fee. We put that on paper for you before you list, so you're making decisions on real figures.
Sell it as it sits, or put some money in first? There's a right answer for your house, and it's usually not the expensive one. We'll walk through it with you and tell you where the line is.
Want to know what you would walk away with? Send us the address and we will go through the numbers with you. No cost, no obligation.
Pricing comes before staging and before photos, because it sets everything downstream. We build your comparative market analysis from closed SIBOR sales, not from an online estimate, and we account for what makes your house your house: the lot, the condition, attached or semi or detached, your taxes, and any open permits or violations on the property.
An overpriced listing does not test the market. It just sits, and buyers watch the days on market climb. Then they assume something is wrong with it.
Small work, in order of what pays back:
The listing agreement sets your brokerage fee. Commissions are not set by law and are fully negotiable. Your fee with us is one thing. Whether you offer anything to a buyer's broker is a separate decision, and since August 2024 it can't be advertised through the MLS. We'll explain both before you sign.
New York also requires an agency disclosure form and your Property Condition Disclosure Statement before any contract can be signed. More on that form below.
Professional photos, a floor plan, and video. Listed on the SIBOR MLS and syndicated to Zillow, Realtor.com, and Homes.com. Pushed to our social channels and to our buyer database. Open houses and private showings on a schedule that works for you.
We bring you every offer with the terms that matter, not just the price. Financing type, down payment, mortgage contingency, inspection terms, closing date, and whether the buyer is asking you to cover anything on their side. The highest number is not always the best offer.
In New York the attorneys draft and negotiate the contract, not the agents. Once you and the buyer agree on terms, your attorney and theirs handle the contract language and the deposit. If you don't have a real estate attorney, we'll give you a few names.
The buyer inspects. Anything they find gets negotiated or fixed. If they're financing, the lender sends an appraiser. Title gets searched for liens, open permits, and survey issues. Open DOB permits and ECB violations show up here, and it's a lot better to know about them in week one than in week six.
Attorneys, buyer, lender, and title all meet. You sign, you hand over the keys, the money wires. On a financed sale, plan on about 60 to 90 days from signed contract to closing. Cash deals move faster.
Since March 20, 2024, New York sellers of one to four family homes have to complete a Property Condition Disclosure Statement and hand it over before the contract is signed. The old workaround, where you gave the buyer a $500 credit instead of filling out the form, was repealed. It's gone.
The form asks about the condition of the house, its systems, and its history. You answer from what you actually know. You're not required to go investigate, and "unknown" is a legitimate answer.
Condos and co-ops are exempt. So are estate sales and other fiduciary transfers.
Fill it out with your attorney. It's a legal document, and your attorney should see it before a buyer does.
Brokerage fee. Set in your listing agreement. Not fixed by law, fully negotiable. Anything you offer a buyer's broker is negotiated separately and is not posted on the MLS.
NYC Real Property Transfer Tax. Seller pays. On a one to three family home, condo, or co-op: 1% if the price is $500,000 or less, 1.425% if it's more.
New York State Real Estate Transfer Tax. Seller pays. 0.4% of the price, which is $2 per $500. On a residential sale in the city of $3,000,000 or more it goes to 0.65%.
Attorney. Usually a flat fee on Staten Island.
Payoff and recording. Your mortgage payoff, the satisfaction recording, any liens on the property.
Concessions. Repairs or credits you agree to after the inspection.
If you live out of state, expect an estimated income tax payment at closing on Form IT-2663. Your attorney handles it.
Those tax rates are set by the city and the state and they do change. That's why we run a net sheet for every seller instead of quoting a percentage.
Request a Market ReportType a sale price and what is left on the mortgage. It works out the two transfer taxes the seller pays in New York City and what is left.
An estimate, not advice. NYS 0.4% (0.65% on a city residential sale of $3,000,000 or more). NYC 1% up to $500,000 and 1.425% above, for one to three family homes and condos. The buyer pays the mansion tax. Your attorney confirms the real figures at closing.
Buyer demand is not the same everywhere on Staten Island, and neither is pricing. What sells a detached colonial on the South Shore is not what sells a two-family near the ferry.
We'll tell you how your block is trading right now. And if it's soft, we'll tell you that too.
St. George, Tompkinsville, Stapleton, West Brighton, Port Richmond. Ferry and express bus access. Older housing stock, a lot of two and three families, new waterfront construction.
Todt Hill, Emerson Hill, Westerleigh, New Springville, Bulls Head, Willowbrook. The widest range of lot sizes and prices on the Island.
New Dorp, Dongan Hills, Grant City, Oakwood, Midland Beach, South Beach. Near the water.
Great Kills, Eltingville, Annadale, Huguenot, Prince's Bay, Tottenville, Woodrow, Charleston. Newer construction, bigger lots.
Staten Island gets busiest in spring, with a second wave after Labor Day. There are more buyers looking in April than in December. There are also more sellers, so you're competing harder for those buyers.
The better question is whether your price range is short on inventory right now. In a thin segment, a December listing can beat an April one. We check the active count in your range before we pick a date, and we'll show you what we're looking at.
If you're buying at the same time, the order matters more than the season. Let's talk it through.
From a comparative market analysis built on closed SIBOR sales of homes like yours, adjusted for your condition, lot, taxes, and layout. We show you the comps we used. You should never have to take a number on faith.
There are two clocks. Listing to accepted offer depends on your price and condition. Signed contract to closing usually runs 60 to 90 days on a financed deal, faster on cash.
For a one to four family home in New York, yes. The $500 credit option was repealed in March 2024. Condos, co-ops, and estate sales are exempt. Do it with your attorney.
Whatever we agree to in the listing agreement. Commissions are not set by law and are fully negotiable. Anything for a buyer's broker is a separate negotiation and cannot be advertised on the MLS.
Fix what the inspector is going to find. Skip the big renovation unless we've run the return on it together.
Yes. Buyers price condition in, so expect to see that in the offers. As-is doesn't get you out of the disclosure form either.
Yes. In New York the attorneys draft and negotiate the contract. We can recommend a few if you don't have one.
The NYC transfer tax, the New York State transfer tax, and possibly capital gains, though the federal primary residence exclusion may cover you. Ask your accountant. We're not tax advisors.
Agency disclosure, listing agreement, Property Condition Disclosure Statement, contract of sale, title documents, payoff letters, transfer tax returns, and the closing statement.
Send us a few details and one of us will get back to you. No charge and no obligation, whether you end up listing with us or not.
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RE/MAX Edge · 651 Willowbrook Rd, Staten Island, NY 10314 · 718-612-3088
Each office independently owned and operated. Equal Housing Opportunity.
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RE/MAX Edge on Willowbrook Road
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RE/MAX Edge · 651 Willowbrook Rd, Staten Island, NY 10314 · 718-612-3088