In Maine, What Do Buyers And Sellers Normally Pay For Closing Costs Anyway?
For starters, Maine is one big honking state. So some areas may have a different tradition of seller pays this, buyer historically pays that. But in Aroostook County, this is the way it goes. Seller of real estate usually responsible unless contract calls for a deviation from the norm…the cost of the deed of conveyance, paying $1.10 per thousand of the state of Maine transfer tax, discharge of any liens found from bank, irs, or whatever lint is on the title. Seller or his lawyer provides registry of deeds where deed will be recorded a transfer tax form filled out indicating map and lot, consideration paid, and who the grantee (buyer) is and grantor (seller or owner) is. The social security number is needed. Seller also discharges mortgage if any and if the buyer’s lawyer find title flaws like old undischarged tax lien, life estate clause, etc it is usually seller’s responsibility to clear title or refund deposit if not possible in the time frame to close. Buyer’s lawyer finds the pro
