Closing Costs in Massachusetts: A Guide for Sellers
Selling your home in Massachusetts? Knowing the full scope of closing costs is important for a smooth transaction. Closing costs are the fees and expenses paid when you finalize the sale of your property.
These can include charges like transfer taxes, loan payoff amounts, and real estate agent commissions. Our guide will explain how closing costs work in Massachusetts and what sellers can expect to pay, helping you prepare financially and avoid surprises.
Disclaimer: This article provides estimates of a seller’s closing costs that are meant for educational and research purposes only; our calculations are not a guarantee.
What are closing costs?
Closing costs are fees paid when finalizing the sale of your property. They can include various expenses like property taxes or insurance, which are common for most homeowners and sellers. Other costs, such as transfer taxes, depend on the location of your home at the time of sale.
Property taxes
According to WalletHub, Massachusetts ranks 34th in the country in terms of property taxes, playing it above states like Alaska.
Real estate in Massachusetts is taxed at a rate of 1.15%, with a median home value in the state of $483,900. To get a better idea of what you might owe, consult a property tax calculator.
