Massachusetts Seller Closing Costs & Net Proceeds Calculator
seller net calculator makes it simple to determine the closing
expenses and "net" profits for Massachusetts property sellers.
Simply input the property's selling (or list) price and location. If
necessary, you may modify the different closing fees. This seller
calculator will calculate the Massachusetts transfer tax, also
referred to as excise tax stamps. Please
send me an E-mail if you see an error or
want to make a comment.
How much are the transfer taxes in Massachusetts and who pays
When property is transferred, Massachusetts levies a real
estate transfer tax.
Transfer taxes are calculated at $4.56 for $1,000 in value, or
0.456 percent ($100,000 X 0.456 = $456.00). Transfer taxes are
typically paid by the house seller; however, payment is
determined by the sales contract.
Barnstable County's transfer tax is somewhat higher, at $6.48
Home purchasers in Nantucket and Dukes Counties pay a 2%
The charge is paid to the respective island's Land Banks.
For first-time house purchasers, there is a taxation exemption.
The house buyer is responsible for paying the land banks tax.
Seller disclosure obligations in Massachusetts
According to Richard D. Vetstein, Esq, "A private seller has
no legal duty in Massachusetts to disclose anything about the property
(except for the presence of lead paint). Yes, you read that correctly.
He doesn’t have to say boo. Will that assist the buyer in selecting
the home for purchase? Maybe not. But if the basement floods, the
seller does not have to say anything about it."