Maryland's state transfer tax is 0.5% of the sale price — $500 on a $100,000 sale. Each county sets its recordation tax, and many counties also charge a county transfer tax, so local amounts depend on the property's county and current rates. The taxes are generally presumed to be split equally between buyer and seller unless the contract says otherwise.
If the buyer is a first-time Maryland home buyer who will live in the home, the state rate is 0.25%; the seller pays that state tax, recordation tax, and any local transfer tax unless the parties expressly agree otherwise. Some transfers are exempt. Ask the settlement company to confirm current rates, exemptions, and the allocation for your sale.
When you sell to us, we pay the closing costs, including Maryland's state transfer tax, recordation tax and any applicable county transfer tax.
This closing-cost promise does not pay a mortgage balance, liens, back taxes, or your share of current property taxes; those are separate settlement items.