Demystifying Closing Costs in Massachusetts

Demystifying Closing Costs in Massachusetts

You've agreed on a price-but what is the 'actual' check you'll need to cut at the end? In MA, closing costs typically range from 2% to 5% of the purchase price for buyers.

Buyer Breakdown

• Title Insurance: Essential protection against past ownership claims.
• Attorney Fees: In MA, an attorney is required to record the deed. Expect $800�$1,500.
• Prepaids: Setting up your escrow account for property taxes and home insurance.

Seller Expenses

Sellers generally pay for the MA Excise Tax ($4.56 per $1,000 of value) and agent commissions. Knowing these numbers early prevents 'sticker shock' at the closing table in Somerville or Arlington.

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