Closing Cost Calculator for Massachusetts (2022 Data)

Written by Elizabeth BoydFebruary 9th, 20235 minute read

Jump to section: Seller closing cost calculator for Massachusetts | Massachusetts closing cost estimator breakdown | How to save on Massachusetts seller closing costs | FAQ

Closing Cost Calculator for Massachusetts

Use our closing cost calculator to get an informed estimate of your Massachusetts closing costs and net sales proceeds. Your charges may vary depending on your county, property value, property taxes and time of sale, and other issues.

💰 Quick Tip: The best way to save on closing costs is to lower your realtor commission rate, which is the biggest closing cost by far. Find your realtor through Clever's free agent matching service, get pre-negotiated low rates, and save up to 50%. Learn more

Massachusetts seller closing cost calculator

Massachusetts closing cost estimator breakdown

🔍 Closing cost
📊 Average rate
💰 Amount*
Up to 6%
Up to $35,528
*Amount calculations based on the median home price of $592,140. Data from Zillow

Realtor commission fees (4.84%)

Most realtors work for commission, traditionally 2.5-3% of the price of the home per agent or broker. Typically, both the buyer’s and seller’s agent are involved in a residential property transaction. The seller pays both realtors for the proceeds once the house sells.

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Massachusetts excise stamps ($2,700)

Real estate transfer taxes in the Commonwealth of Massachusetts are called excise tax stamps or deed excise taxes. The seller usually pays this expense, buying individual tax stamps that are then attached to the deed.

They apply when a homeowner sells real property for more than $100. These taxes are billed at the county level, payable to the Registry of Deeds. The current rate is $2.28 per $500 of home value.

County transfer taxes

There are 14 counties in Massachusetts that may charge a local real estate transfer tax in addition to the state excise tax. The tax rate varies by county.

Owner's title insurance ($2,161)

Owner’s title insurance protects your buyer if someone disputes their right to ownership down the road due to title defect claims. The coverage is good while they own the house and even extends to heirs.

Home warranty ($250–1700)

Home warranties are an optional expense for Massachusetts home sellers. These agreements help pay for repairs to home appliances and major systems, like HVAC and electrical.

You can purchase a seller’s home warranty for short-term coverage up until closing for your protection. You may also buy a year of coverage for your buyer as an incentive. A buyer’s warranty can also prevent disputes with the new owner in case of after-sale problems with the covered items.

Massachusetts Title V ($400–800)

Title V covers the installation, maintenance, and use of septic systems, which are common in Massachusetts. The state legislation makes septic system examinations (Title V inspections) mandatory for most home sales.

Smoke/carbon monoxide detectors inspection ($50)

Massachusetts law mandates the presence of working smoke and carbon monoxide detectors in residential properties listed for sale. Inspections are usually performed on houses of all ages, even though the law specifies smoke alarm requirements for those built before 1975. Home sellers must obtain a certificate of compliance.

Attorney fees ($300–1,500)

You’ll likely need an attorney at closing to review contracts and supporting paperwork for accuracy and legal compliance. You may also opt for a limited power of attorney, allowing your legal representative to appear for you and handle everything at settlement.

Seller assist (up to 6%)

Also called seller concessions, seller assist fees are seller credits applied to the buyer’s closing costs. Your listing agent can help factor the cost into the sales price. They’re not mandatory, but seller concessions may attract more offers on your home. It boosts buyers’ affordability by letting them finance part of their out-of-pocket closing costs.

Loan programs set limits on seller assist fees that correspond to the size of the buyer's down payment. Some lenders don't allow seller assist fees at all. These concessions can go as high as 9%, but the fees cannot exceed total closing costs, regardless of rate limits.

Down paymentSeller assist

Real estate tax proration

Massachusetts homeowner property taxes are due every three months on August 1, November 1, February 1, and May 1.

Your taxes must be current through your closing date. You’ll need to pay a prorated amount if you close before paying your current quarter’s taxes. The buyer will owe you a prorated refund if you’ve already paid but then sell the home before the quarter is complete.

How to save on Massachusetts seller closing cost fees

✅ Sell with a low commission realtor

Sellers pay agents and brokers on both sides of the deal. The average realtor rate in Massachusetts is 4.84%, likely making realtor fees your most considerable expense when selling your home. Negotiating a smaller listing fee can help save a lot of money.

However, you don’t have much control over the buyer’s agent fee even though you set the commission rate when you list your home. That’s because offering a lower buyer agent fee can discourage realtors from showing your home.

Instead, concentrate on finding a qualified low-commission listing agent. Our friends at Clever Real Estate can help you match with experienced local realtors who will help you sell your home for a 1.5% listing fee.

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Clever pre-negotiates low rates with top agents nationwide. Compare local agents, get full service, and save up to 50% on realtor fees at closing. Clever is free to use with no obligation. Give it a try today!

✅ Negotiate closing costs with the buyer

Convincing your buyer to pay some of your closing costs can also enhance your savings. But the market dictates the success of that method.

Negotiating closing costs with your buyer is most effective in a hot seller’s market because buyers are eager to close a sale. Ask your realtor about the current market in your area and how receptive your buyer may be to that approach.

Massachusetts seller closing cost calculator FAQ

Massachusetts home buyer closing costs are about 2-5% of the price of the house. Most of the expenses are loan related. Therefore, lenders provide borrowers with a loan estimate within three days of application that reveal expected closing costs. So, buyers will have a reasonably accurate idea of costs from the beginning of the home-buying process.

As a Massachusetts home seller, you can expect to part with approximately 0.9% of your sales proceeds to pay closing costs, plus an additional 4-5% for realtor commissions.

Massachusetts closing costs are the expenses (aside from the home purchase price) buyers and sellers must pay to transfer ownership of real property and finalize a mortgage. Massachusetts real estate transactions include many standard closing costs. But they may also involve state-specific expenses, like recorded land plans and decrees, land bank fees, MA Title V inspections, and Massachusetts excise stamps.

For buyers, closing costs consist of loan-related expenses, administrative and services fees, and escrow funds for costs like property taxes and insurance premiums. The seller’s closing costs are comprised of transfer taxes, attorney closing expenses, and inspection fees. In addition, sellers may also pay for the owner’s title insurance, home warranties, a land bank fee, seller concessions, and a prorated property tax amount. Technically, realtor fees aren’t closing costs, but they’re a substantial seller expense also due at closing.

Yes, Massachusetts sellers pay closing costs. In fact, sellers and buyers both do. Some expenses are specific to one side or the other. But the additional fees may be negotiable.