Selling Staten Island and buying in New Jersey? Here's the full cost picture — NYC transfer taxes, NJ title insurance, mansion tax, and attorney fees.
When you're selling your Staten Island home and buying in New Jersey, you're paying two sets of closing costs — one on the sell side, one on the purchase side. Understanding both before you get to the table prevents surprises and helps you calculate exactly what you'll net from the SI sale and what you'll need for the NJ closing.
Because Pete Weinman is licensed in both New York and New Jersey, he can represent you on both transactions — one attorney fee covering both deals rather than paying two separate firms. For a complete overview of the process, see the Complete Roadmap guide.
Part 1: Costs When Selling in Staten Island
| Cost | Rate / Amount | Who Pays |
|---|
|------|---------------|----------|
| NYC Real Property Transfer Tax (RPTT) | 1.0% (under $500K) / 1.425% ($500K+) | Seller |
|---|---|---|
| NYS Real Estate Transfer Tax | 0.4% of sale price | Seller |
| Real Estate Agent Commission | Typically 5%–6% | Seller |
| Attorney Fee | $1,500–$2,500 | Seller |
| Mortgage Payoff | Remaining balance + per diem interest | Seller |
| Title Closer Fee | $300–$500 | Seller |
| Moving Costs | Varies | Seller |
Learn more about NYC transfer taxes and seller closing costs in Staten Island. See also the FAQ about typical seller closing costs.
Example: $700,000 Staten Island Home Sale
| Item | Amount |
|---|
|------|--------|
| Sale Price | $700,000 |
|---|---|
| NYC RPTT (1.425%) | −$9,975 |
| NYS Transfer Tax (0.4%) | −$2,800 |
| Commission (5.5%) | −$38,500 |
| Attorney Fee (estimate) | −$2,000 |
| Mortgage Payoff (example) | −$300,000 |
| Estimated Net Proceeds | ≈ $346,725 |
Your net proceeds from the SI sale are what you'll use to fund the NJ purchase — either as your full payment or as a down payment if you're financing.
Part 2: Costs When Buying in New Jersey
| Cost | Rate / Amount | Notes |
|---|
|------|---------------|-------|
| NJ Graduated Percent Fee (Mansion Tax) | Graduated 1%–3.5% of purchase price | Only on sales $1M+; paid by seller as of July 10, 2025 |
|---|---|---|
| Owner's Title Insurance | ~0.5%–0.6% of price | One-time premium; protects buyer |
| Lender's Title Insurance | ~0.3%–0.4% of loan | Required if financing |
| Attorney Fee (NJ) | $1,500–$2,500 | May be combined with NY fee if same attorney |
| Home Inspection | $400–$700 | Strongly recommended |
| Well Inspection | $200–$400 | If property has a private well |
| Septic Inspection | $300–$600 | If property has a septic system |
| Radon Test | $150–$300 | Recommended in NJ |
| Mortgage Origination Fee | 0.5%–1.5% of loan | Lender-dependent |
| Appraisal | $500–$800 | Required by lender |
| Recording Fees | $100–$300 | County recording of deed and mortgage |
| Pre-paid Taxes and Insurance | 2–3 months escrow | Required by most lenders |
Note on NJ Realty Transfer Fee: In New Jersey, the realty transfer fee is paid by the SELLER, not the buyer. As a buyer in NJ, you do not pay this fee.
Learn more about New Jersey closing costs for buyers and what closing costs to expect. Don't forget to budget for New Jersey's high property taxes.
The Big Picture: Know Your Numbers Before You Make an Offer
The most important number is your net proceeds from the Staten Island sale. Once your attorney calculates your estimated net, you can determine:
- How much you have available for a NJ down payment
- Whether you can buy in NJ in cash or need to finance
- Whether you need a bridge loan or other financing to cover any gap
- What purchase price range is realistic in New Jersey
Your attorney will provide a projected net proceeds statement well before closing. Don't wait until closing day to understand these numbers — you need them while you're actively shopping for the NJ home.
High-Value Property Warning: If you are selling a New Jersey home for over $1 Million, be aware that as of July 2025, the "Mansion Tax" shifted from the buyer to the seller. This can amount to tens of thousands of dollars in unexpected closing costs. See the new progressive tax bracket schedule here before you price your home.
Contact Pete today: Call 718-442-2010 | Text 718-273-0001 | Email: [email protected]
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