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Massachusetts Seller Closing Costs & Net Proceeds Calculator

Adding machine calculatorThe 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.

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  NET TO SELLER
 
1. What is the selling or listing price?
2. Where is the home located?
 
  ESTIMATED CLOSING EXPENSES
3. Attorney’s Fees ($500 - $1,500)
4. Massachusetts Excise Stamps
5. Massachusetts Land Bank Fee*
6. Fed Ex ($25 - 50 per package)
7. Home Warranty
8. Massachusetts Title V ($600-$1000)
9. Miscellaneous (from below)
10. Mortgage Payoff (from below)
11. Mortgage Discharges ($50 - $100)
12. Realtor Commission Percentage
13. Realtor Commission - Flat dollar amount*
14. Seller Assist Percentage
15. Seller Assist - Flat dollar amount*
16. Smoke/Carbon Monoxide Detectors Inspection ($25 - $100)
17. Wire ($25 - $50)
  TOTAL CLOSING EXPENSES
 
Realtor Commission - Flat dollar amount* - If the commission is a flat dollar amount (i.e. $6,000), enter that amount on line 13. The cost will override the percentage calculation and the split-commission calculator is used below. Be sure to tick the box to add to total for this feature to work.
 
Seller Cost Contribution* - If the seller is paying a flat dollar amount toward the seller assist, enter the cost in the adjacent box. The cost will override the percentage calculation. Make sure you are within the maximum allowable cost for a seller assist.
 
  MISCELLANEOUS CHARGES
21.  
22.  
23.  
  TOTAL    
 
  MORTGAGE PAYOFF
24. 1st MORTGAGE  
25. 2nd MORTGAGE  
26. Other Lien(s)  
  TOTAL    
 
  REAL ESTATE TAX COMMISSION CALCULATOR
30. Sales Price %  
31. Commission on first dollar amount  
32. Commission on remaining amount
  Total Real Estate Commission ADD TO TOTAL
  Be sure to tick the box to add to total
 
* Nantucket and Dukes, many real estate transfers are subject to a 2 percent land bank fee. first-time home buyers may be able to exempt some of the cost of their purchase

How much are the transfer taxes in Massachusetts and who pays it?

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 per $1,000.

Home purchasers in Nantucket and Dukes Counties pay a 2% financing charge.
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." Read more