Somerset County, Maine Closing Costs
On the $155,200 median Somerset County home, the county-specific closing items come to about $1,201: transfer tax $683, title insurance $518. Lender fees, appraisal and prepaids are added by the loan, not the county.
County-specific closing costs by purchase price
| Purchase price | Transfer tax | Title insurance (both policies) | Total |
|---|---|---|---|
| $150,000 | $660 | $500 | $1,160 |
| $200,000 | $880 | $650 | $1,530 |
| $250,000 | $1,100 | $800 | $1,900 |
| $300,000 | $1,320 | $950 | $2,270 |
| $350,000 | $1,540 | $1,100 | $2,640 |
| $400,000 | $1,760 | $1,250 | $3,010 |
| $450,000 | $1,980 | $1,400 | $3,380 |
| $500,000 | $2,200 | $1,550 | $3,750 |
| $600,000 | $2,640 | $1,850 | $4,490 |
| $700,000 | $3,080 | $2,150 | $5,230 |
| $800,000 | $3,520 | $2,450 | $5,970 |
| $1,000,000 | $4,400 | $3,050 | $7,450 |
Frequently asked questions
How much are closing costs in Somerset County?
On the $155,200 median home, the county-specific items come to about $1,201: transfer tax $683, title insurance $468 for the owner's policy and $50 for the lender's. Lender fees, an appraisal, prepaid taxes and insurance come on top and depend on the loan.
Who pays these in Somerset County?
The transfer tax is customarily split. Who pays the owner's title policy is negotiable; the buyer pays the lender's policy and the mortgage recording fee.
Sources
- U.S. Census Bureau, ACS 2019-2023 five-year estimates, table B25077 (median value of owner-occupied housing units)
- 36 M.R.S. 4641-A, Rate of tax; liability for tax
- WFG National Title Insurance Company, State of Maine Manual of Title Insurance Premiums, effective March 1, 2022
Figures are computed from the documents above and rounded to the dollar. All sources.
All Maine buyer closing costs → Somerset County home buyer guide →
Figures are computed from the documents above and rounded to the dollar. General information, not financial advice.
Somerset County overview