Maine Seller Closing Cost Calculator

Maine Closing Cost Calculator: Seller Averages

This free calculator can help home sellers in Maine estimate their closing costs and net proceeds. To get a ballpark idea of the cost of selling a house in the Pine Tree State, enter the information for each of the input fields above. You can see typical or state averages for most Maine seller closing costs below.

Home Selling Price: $381,000

How does your home compare to the state’s median selling price of $381,000? To determine your listing price, you can:

1. Get a preliminary estimate with HomeLight’s free Home Value Estimator

2. Request a Comparative Market Analysis (CMA) from a top Maine  agent

3. Purchase a pre-listing home appraisal (typically $800-$1,000 in Maine)

4. Visit this HomeLight map link to compare recently sold homes in Maine

Mortgage Payoff Amount: $174,620

According to the credit experts at Experian, the average mortgage balance for Maine homeowners is $174,620. To find your exact payoff amount, check your latest mortgage statement or contact your mortgage servicer.

Listing Agent Fee: $9,525–$11,430

A typical listing agent commission in Maine is 2.5% to 3% of the home’s selling price. On a $381,000 house, your agent’s fee might range from $9,525–$11,430.

Buyer’s Agent Fee: $9,525–$11,430

In the past, sellers covered both the listing agent and the buyer’s agent fees. However, following a landmark court settlement by the National Association of Realtors, buyers are now expected to negotiate compensation directly with their own agents. If you’re offering to pay this fee to attract buyers, on a $381,000 median-priced Maine home, you can expect to pay $9,525–$11,430.

Detailed Closing Costs: $4,953

Closing costs in Maine average about 1.3% of the home’s sale price. On a median-priced home of $381,000, you might pay $4,953. Below are some of the typical types of closing costs you can expect:

• Home Preparations: Curb appeal is important. This means interior house cleaning, landscaping, or home staging.
• Renovations/Repairs: Fixing or updating your property will help you keep up with buyer demand and inspection queries.
• Title Service Fees: Title company work required to verify legal ownership and help manage the transfer of the property. Buyers usually pay for this in Maine, but sellers can opt to cover it as a concession.
• Owner’s Title Insurance: A one-time insurance premium paid by the seller to protect the buyer from title issues or ownership disputes. Buyers typically cover this in Maine, but sellers can cover it as a concession.
• Transfer Taxes: Maine home sellers pay a transfer tax rate of $2.20 for each $500 or fractional part of $500 of the property’s value. The tax is usually split between the buyer and the seller in Maine.
• Recording Fees: Fees paid to the local government to officially record the change in property ownership.
• Buyer Incentives: Credits or concessions you might offer buyers, such as paying the buyer’s agent fees or offering a rate buydown. Transfer taxes often fall under this category.
• Other Costs: Miscellaneous expenses not covered in other categories, such as attorney fees and HOA transfers. (An attorney is not required to sell a house in Maine .) It’s important to note that in Maine, agents are potentially liable for any defects or issues not disclosed in the property.
• Moving Expenses: While not technically a closing cost, you might want to include this expense in your budget, which can range from $883 to $7,000.

In Maine, the Real Estate Transfer Tax (RETT) applies to the sale of real estate and the transfer or acquisition of a controlling interest in an entity that owns real property; this is known as the Controlling Interest Transfer Tax (CITT). The tax rate is $2.20 for every $500 or fraction thereof of the property’s value.

Depending on the city or county where the transaction takes place, there may be additional transfer taxes added to the total.

More Helpful Seller Tools From HomeLight

Here are some additional tools you may find helpful as you plan your Maine home sale:

• Listing Agent Match platform
• Home Value Estimator
• Best Time to Sell Calculator
• Agent Commissions Calculator
• Net Proceeds Calculator

Want to avoid closing costs and sell fast? Get a cash offer today.

With HomeLight’s Simple Sale platform, you can receive a no-obligation, all-cash offer in 24 hours and close in as few as 10 days. Answer a few questions about your Maine home to get started. Along with your offer, you’ll also see an estimate of what a top Maine agent might be able to get for your home. Get both options with one tool.

As you look ahead to your next home purchase, here are some helpful buyer tools:

• Home Affordability Calculator
• Down Payment Calculator
• Closing Costs Calculator
• Buyer’s Agent Match platform