Massachusetts Real Estate

head_left_image

Massachusetts Tax Stamps ~ Hidden Costs in Selling Your Home

 Massachusetts tax stamps As a Realtor representing many home owners selling their homes, it has come to my attention numerous times that many people are unaware of the tax on selling a home in Massachusetts. This tax is levied on the sale of any home sold in the commonwealth of Massachusetts. Presently the tax rate is $4.56 dollars per thousand.

In other words if you sell a home for $500,000 your tax would be $4.56 x 500 for a total cost of $2280. When you have certain expectations for what your check will be coming from a closing, a short fall of $2280 would not be a pleasant experience.

This is one of the largest expenses a home owner would have when selling their property in Metrowest Massachusetts aside from paying a Real Estate commission.

Some of the other expenses in selling a home in Massachusetts would be a Title V Septic inspection if you do not have town sewer. The typical cost for a

Title V inspection runs between $600 - $900 depending on how easy it is for the title V inspector to get to the tank and distribution box. This cost would also include the pumping fee. Most of the time the system gets pumped at the time of the Title V inspection.

Other costs include hiring an attorney to represent you in negotiations on a purchase and sale agreement or attending the closing. Legal representation can vary quite a bit. As a general rule of thumb the costs for legal representation in a Real Estate sale can vary anywhere from $300-$1500 depending on the scope of work.

Having a lawyer represent you is never a bad idea. Realtors are NOT allowed to council buyers and sellers in legal matters.

Some of the smaller miscellaneous expenses include a smoke/carbon monoxide inspection which usually run around $25, and recording the new deed at the registry which is typically around $125-$150.

See also Massachusetts home selling costs .

 

Considering selling your Massachusetts home? See preparing your Massachusetts home for the Spring selling season and Top ten mistakes to avoid when selling your Massachusetts home .

_________________________________________________________________________________________________________

The above information regarding Massachusetts tax stamps  was provided by Bill Gassett, the team leader for RE/MAX Executive Realty the #4 RE/MAX Team in Massachusetts in 2007.

 Bill can be reached via email at billgassett@remaxexec.com or by phone at 508-435-5356. Bill has helped people move in and out of Hopkinton MA and other Metrowest towns for the last 22+ Years. Bill's office is conveniently located in the center of Hopkinton MA at 77 Main Street.

I have a passion for Real Estate and love to share my marketing expertise! I would welcome the opportunity to earn your business.

For Metrowest Massachusetts and Hopkinton Real Estate and homes see Hopkinton Real Estate . Want to have MLS access to beat other buyers to your dream home? Sign up with no obligation at my MLS Property Finder Site .

I cover Real Estate sales in the following towns in Metrowest MA: Hopkinton, Milford, Upton, Southboro, Westboro, Ashland, Holliston, Mendon, Hopedale, Medway, Grafton, Northbridge, Uxbridge, Douglas, and Framingham MA.

Click here to view Bill Gassett's Real Estate profile .

                                                                    SUBSCRIBE TO MY BLOG

                                                                          

SUBSCRIBE TO MY METROWEST HOMES BLOG via email.   

Bill Gassett is a thirty-two year veteran to the real estate industry. He enjoys providing helpful information to buyers, sellers and fellow real estate agents to make sound decisions. His work has been featured on RIS Media, National Association of Realtors, Inman News, Placester, RESAAS, Credit Sesame and others.

Comment balloon 40 commentsBill Gassett • October 23 2007 01:34PM
Massachusetts Tax Stamps ~ Hidden Costs in Selling Your Home
share
As a Realtor representing many home owners selling their homes, it has come to my attention numerous times that many people are unaware of the tax on selling a home in Massachusetts. This tax is levied on the sale of any home sold in the… more
Marathon Deli ~ Ashland MA Business Profile
share
Marathon Deli located at 250 West Street (Rte 135), Ashland Massachusetts is a terrific local sandwich shop on the Hopkinton/Ashland town line. Marathon Deli is owned by Doug Fifield and Jim Johnston, who established the business in 1997… more
Milford MA Homes & Real Estate ~ Market Report September 2007
share
Milford Massachusetts Real Estate Market Report September 2007 In September of 2007 there were 12 homes that closed within the month for Milford MA This is an decrease of 12 units as there were 24 homes that closed in… more
Carbone's Restaurant Hopkinton MA ~ Family Tradition for 74 Years!
share
Carbone's Restaurant located on 280 Cedar Street (Rte 85) in Hopkinton MA has been a traditional Italian/American Restaurant for the last 74 years. Three generations of Carbone's have kept this place growing for many years. This Hopkinton MA… more
Stones Public House ~ Formerly John Stones Inn, Ashland MA
share
Pub/Restaurant Profile of Stones Public House, Ashland, MA 01721 Stones Public House formerly know as John Stone's Inn is located in the center of Ashland Massachusetts at 179 Main Street. The pub… more
Hopkinton Massachusetts Townhomes & Condo's - Community Profile
share
Hopkinton MA Townhome/Condominium Neighborhoods The following is a review of the various non age restricted Hopkinton MA townhome Neighborhoods. Hopkinton has a variety of terrific condominium projects scattered throughout… more
Hopkinton MA ~ Scenes From Around Town
share
Welcome to Hopkinton Massachusetts.. The start of the world famous Boston Marathon. Located 26 miles West of Boston, Hopkinton MA is a great destination town for people looing to buy a home in the Metrowest area. Below you will find scenes from… more
It's Good To Have Friends in High Places!
share
I recently had the opportunity to take in a Boston Red Sox game up on the famous Green Monster at Fenway Park. I was treated to these great seats by former Red Sox pitcher Jim Corsi who happens to be one of my best friends and… more
Ethics in a Short Sale ~ The Responsibilities of a Realtor
share
With the rise in short sales happening all around the country it is important to know what your responsibilities are as an agent representing a seller in this situation. A "short sale" is when a mortgage lender agrees to accept less… more
Creative Marketing for Home Sellers in Metrowest MA
share
Creative marketing is essential to successfully set yourself apart from the competition. As a top Hopkinton Massachusetts Realtor I am constantly searching for new and innovative tools that will distinguish my seller clients… more