Buyers guide
Buying a home on Long Island
Buying in Nassau or Suffolk follows New York's attorney-driven process. Here's every step, in order, and what each one means.
- 1
Get pre-approved
A lender reviews your income, assets and credit and tells you what you can borrow. Sellers expect to see a pre-approval letter with any offer. Most letters last 60 to 90 days, so time it with your search.
- 2
Meet with an agent and sign the paperwork
New York requires an agency disclosure at the first substantive meeting, plus the Housing and Anti-Discrimination Disclosure. A written buyer agreement is signed before touring homes; it spells out how your agent is paid.
- 3
Search and tour
Tour homes in person or virtually. Save the ones you like in the app; I'll share showing tours with the route, times and notes.
- 4
Make an offer
Your offer sets the price, down payment, financing and timing. On Long Island an accepted offer is not binding until both sides sign a contract, so other buyers can still compete until then.
- 5
Home inspection
Usually done right after the offer is accepted and before the contract is signed. Check the roof, systems, oil tank, cesspool or sewer, and any open permits.
- 6
Attorney review and contract
The seller's attorney drafts the contract; your attorney reviews and negotiates it. When both sign, you typically put down about 10% as a deposit, held in escrow by the seller's attorney.
- 7
Mortgage commitment
Your lender orders the appraisal and underwrites the loan. The contract usually gives you a set number of days (often 30 to 45) to get a written commitment.
- 8
Title and closing prep
A title company searches the property's history and insures the title. Your attorney schedules the closing once the loan is clear to close.
- 9
Final walkthrough
Within a day or two of closing, you walk the home to confirm it's in the agreed condition and anything promised was done.
- 10
Closing day
You sign the loan and transfer documents with the attorneys, the title closer and the lender's representative, then you get the keys.
Costs to plan for
| Down payment | From 3% to 20% or more of the price, depending on the loan |
| Your attorney | Often $1,500 to $3,000 |
| Title insurance and search | Roughly 0.5% of the price |
| Mortgage recording tax | About 0.80% of the loan, less $30, for a 1 to 2 family home in Nassau and Suffolk (1.05% in total, with the lender paying the rest) |
| Mansion tax | 1% of the price at $1 million or more (paid by the buyer) |
| Peconic Bay Region tax | 2% of the price above a town allowance in the five East End towns (Riverhead, Southold, Southampton, East Hampton, Shelter Island); confirm the current rate and allowance |
| Lender fees, appraisal and escrow | Varies by lender; prepaid taxes and insurance are common |
General information about Long Island and New York practice, current as of 2026, not legal or tax advice. Your attorney, lender and accountant give advice for your situation; laws and fees change, so confirm current figures. All guides
Town guides describe places, homes and amenities from public sources and are updated regularly; confirm anything important with the town or village. William Gomez, Licensed Real Estate Salesperson. Equal Housing Opportunity. We are committed to the Fair Housing Act: we never steer anyone toward or away from any community.