Estimate Your Closing Costs
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Disclaimer: These are estimates only. Actual closing costs vary by lender, title company, state/county, and closing date. Your Loan Estimate (TRID) is the source of truth.
Maine Closing Costs Breakdown
Closing costs in Maine typically run between 2% and 3.5% of the purchase price. For a median-priced home around $414,000, buyers should anticipate $8,280 to $14,490 at closing. Maine's transfer tax and attorney-closing norms mean closing costs are moderately higher than non-attorney states.
Transfer Taxes & Fees
Maine charges a real estate transfer tax of $2.20 per $500 of the sale price (0.44%), split evenly between buyer and seller at $1.10 per $500 each (0.22% each). On a $414,000 home, the total tax is $1,822, with the buyer responsible for approximately $911. Maine has no county-level transfer taxes beyond this state rate.
Attorney Requirements
Yes, Maine is an attorney-closing state. A licensed Maine attorney must conduct the title examination and closing. Attorney fees in Maine typically range from $800 to $1,500 depending on the complexity of the transaction and the attorney's market. The attorney-closing requirement applies statewide.
Local Quirks & Need-to-Know
Maine has a non-resident withholding requirement: if the seller is not a Maine resident, the buyer must withhold 2.5% of the sale price and remit it to the Maine Revenue Service unless the seller obtains a withholding certificate. This can affect transactions involving vacation homes or investment properties. Maine's property taxes on seasonal and waterfront properties can be surprisingly high.