Maryland’s state transfer tax is 0.5% of the sale price. Each county sets its own recordation tax, and many counties also charge a county transfer tax. Some transfers are exempt, so the local amount depends on the property and the current rules.
By law, these taxes are presumed to be split equally between buyer and seller unless the contract says otherwise. A special rate applies when the buyer is a first-time Maryland home buyer who will live in the house: the state rate is 0.25%, and the seller pays the state transfer tax, recordation tax, and local transfer tax unless the parties expressly agree otherwise. Ask the settlement company to show the property-specific taxes, exemptions, and contract allocation.
When you sell to us, we pay the closing costs, including Maryland's state transfer tax, recordation tax and any applicable county transfer tax.