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Closing Costs in Gaithersburg, MD
Estimate closing costs for Gaithersburg, MD real estate. Part of Montgomery County, Gaithersburg has a growing housing market with median prices around $525,000.
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Local Taxes & Fees in Gaithersburg, MD
Gaithersburg falls under Montgomery County's 1% county transfer tax plus Maryland's 0.5% state rate (1.5% combined). The City of Gaithersburg does not add municipal transfer taxes. Gaithersburg's diverse housing stock — from entry-level condos to executive homes — means closing cost percentages stay similar but dollar amounts vary significantly.
Frequently Asked Questions — Gaithersburg, MD Closing Costs
How much are closing costs in Gaithersburg, MD?
Closing costs in Gaithersburg, 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 Gaithersburg 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 Gaithersburg, MD property.