A tool exists that provides an estimate of the levies associated with the transfer of real property in Maryland. These levies include charges for transferring property ownership and recording the transaction with the local government. The precise amount owed in a given real estate transaction can be determined by entering the property’s sale price, the location of the property (county or Baltimore City), and any applicable exemptions. It helps stakeholders to understand the monetary commitment involved in buying or selling real estate within the state.
This instrument offers several key benefits. It allows for transparency in real estate dealings, enabling buyers and sellers to accurately budget for closing costs. It is useful for financial planning and informed decision-making during property transactions. Historically, calculating these fees manually could be complex and time-consuming, potentially leading to errors. The tool simplifies this process, providing a convenient and reliable resource for parties involved in real estate exchanges.
