Title 14 of the MD Code, Real Property § 14-104(c)(1) explicitly states entire amount of recordation and local transfer tax shall be paid by the seller of improved, residential real property sold to a first-time MD home buyer who will occupy the property as a principal residence, unless there is an express agreement between the parties to the agreement that the tax will not be paid entirely by the seller. Customarily, however, these same transaction types split the taxes between buyer and seller applying the owner occupied exemption to buyer side only. Due to varying interpretations, agreements and legalities, we are compromising by splitting these applicable taxes 50/50 to avoid shortages. This could result in a slightly higher buyer side and lower seller side quote but no more than $165.00 variance based on maximum MD exemptions.
Contract and sales agreements trump all statutes. For a more accurate quote please contact email@example.com