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Tax Closing Costs
Property Taxes
This is the one closing cost that is often prorated between the buyer and seller. If the seller has already paid the annual property taxes, the buyer typically reimburses the seller for the period in which the buyer will be occupying the property. Likewise, if the taxes have not yet been paid, the seller typically reimburses the buyer for the period in which the seller occupied the property.
Transfer Taxes and Recording Fees
This is the cost for transferring ownership of the property and recording the purchase documents. The fee is often calculated as a percentage of the sales price.
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Belanger Realty for residential, lakefront and waterfront real estate in Maine.
Thompson Lakes real estate, Thompson Lakes homes for sale, Poland Maine homes for sale, Mechanic Falls, Minot, Casco, Oxford, New Gloucester, Raymond, and Tripp Maine real estate. We specialize in Maine waterfront and lakefront properties in all the above towns.
Belanger Realty
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