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Closing Costs in Bethesda, MD
Estimate closing costs for Bethesda, MD real estate. Montgomery County's transfer taxes are among the highest in the DMV region. With median home prices around $950,000, precise closing cost calculations are essential.
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Local Taxes & Fees in Bethesda, MD
Bethesda is in Montgomery County, which levies a 1% county transfer tax on all real estate transactions. Combined with Maryland's 0.5% state transfer tax, the total transfer tax rate is 1.5% of the sale price. On a $950,000 home, that's $14,250 in transfer taxes alone — typically split between buyer and seller. Maryland also charges a state recordation tax based on the sale price. Title insurance rates in Maryland are filed with the state insurance administration.
Frequently Asked Questions — Bethesda, MD Closing Costs
How much are closing costs in Bethesda, MD?
Closing costs in Bethesda, MD typically range from 3% to 6% of the purchase price for buyers and 2% to 4% for sellers. Maryland has higher transfer taxes than many states, with both state and Montgomery County transfer taxes applying.
What is the transfer tax in Montgomery County?
Montgomery County charges a county transfer tax on real estate transactions in addition to the Maryland state transfer tax of 0.5%. The combined state + county rate makes Maryland closing costs higher than Virginia in most cases.
Who pays transfer taxes in Maryland?
In Maryland, transfer taxes are typically split between buyer and seller, though this is negotiable. The state transfer tax (0.5%) and Montgomery County transfer tax are both calculated on the sale price.
Does Bethesda have a recordation tax?
Yes. Maryland charges a state recordation tax based on the sale price. In Montgomery County, this applies to deeds, deeds of trust, and other recorded instruments. Contact Pruitt Title for exact calculations.
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Need a Precise Closing Cost Estimate?
These are estimates based on standard Montgomery County rates. Every transaction is different — contact Will Rapuano at Pruitt Title LLC for an accurate, line-by-line closing cost breakdown for your Bethesda, MD property.