Comments on: Massachusetts Tax Stamps and Other Costs to Sell a Home

By: Bill Gassett

Bill Gassett — Wed, 22 Aug 2012 16:15:30 +0000

Terri thanks for the compliments on my tax stamp article! Yes it would be 4.56 per thousand in Marlboro.

By: Terri

Terri — Wed, 22 Aug 2012 16:13:24 +0000

Bill,
This is a great information for sellers and buyers. As I am in the process of selling my home and as a ‘newbie’ to the selling process any tidbit of information is much appreciated. A question: my home I’m selling is in Marlborough, MA. Would the tax stamp still be the $4.56 per $1,000 that you mention?

Thanks!

By: Bill Gassett

Bill Gassett — Wed, 13 Jun 2012 12:09:43 +0000

Hi Boris – what you describe is not like a typical closing transaction. I would guess that it would be negotiable amongst the two of you as you are not selling to an outside party and hold joint interest.

By: Bill Gassett

Bill Gassett — Wed, 13 Jun 2012 12:08:05 +0000

Deepak this is a common problem that some seller’s face when they do not get educated on the Massachusetts tax stamp.

By: deepak

deepak — Tue, 12 Jun 2012 02:18:32 +0000

I got a surprise during closing when I saw the stamp cost needs to paid by the seller. I didn’t know until closing time. I asked attorney but it was late… its better to do your homework as seller…otherwise it can cost you.

By: Boris Epstein

Boris Epstein — Mon, 11 Jun 2012 21:12:58 +0000

Hello Mr Gassett,

Thanks for a great article on the tax stamp. What a weird tax:)

I have a question. I purchased a property a little under a year ago together with a partner. He is currently buying my share from me. His attorneys offered me a deed the amount I will receive in cash. The deed does not even mention the fact that the bulk of the money paid to me will go towards paying out my share of the mortgage (about $150K).

I asked them to add the verbiage describing that to the deed – which seems to make sense – and then they told me I will have to pay tax stamp for the whole amout (the whole $180K, not the $30K they wanted me to pay it on initially). Would you comment?

It seems to me you pay tax stamp on the whole amount of the transaction. Am I wrong in thinking so?

Thanks.

By: Bill Gassett

Bill Gassett — Fri, 21 Oct 2011 21:51:04 +0000

Regis the Massachusetts tax stamp is based on the sales price of the home. Other expenses do not come into play with this tax.

By: regis

regis — Fri, 21 Oct 2011 21:32:48 +0000

Is the tax stamp paid on gross sale or net sale after paying off mortgage and RE commission?

By: Bill Gassett

Bill Gassett — Thu, 26 May 2011 23:19:01 +0000

Greg the Mass stamp tax has to be paid but there is no law in place that says who has to pay it. While it is customary for the seller to pay it does not mean that someone else can’t pay them.

By: Gregory Putnam

Gregory Putnam — Thu, 26 May 2011 14:53:24 +0000

Bill, I have a question regarding your last reply about Tax Stamp. So if the bank has an addendum that the buyer is responsible for the stamp tax on a foreclosed property, then there is no legal recourse? Mass. has no law that states the Seller must pay the Stamp Tax?