If the property is land, it is helpful for the listing broker to compile any information that is helpful to market the property, such as soils test, subdivision plans, restrictions (easements, rights of ways or Covenants) or access to utilities.
Regarding costs for the Seller in a transaction, the Seller pays an attorney to prepare the deed, typically at a cost of $150 to $200. The Sellers also pay one-half of the $4.40 State of Maine transfer tax, so that’s $2.20 per thousand of the sale price. If the Seller lives out of the state, he will also be liable for a 2.5 percent withholding tax, a tax the state collects as an estimated payment on any potential capital gains. The Seller, may however, request a waiver from the state by providing information stating that no capital gains were earned on the sale.
