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Estimate closing costs for Gaithersburg, MD real estate. Part of Montgomery County, Gaithersburg has a growing housing market with median prices around $525,000.
Use this live quote tool for a precise title and escrow estimate in Gaithersburg, MD.
Gaithersburg's housing stock runs from entry-level condos to executive homes, so the percentages stay flat while the dollar totals move a long way across the market. A condo purchase here adds an association resale packet and, in most cases, a transfer or document fee the association sets — a private charge, not a government one, and not capped by any statute. Get the association's fee schedule with the resale packet rather than discovering it on the settlement statement.
Gaithersburg is an incorporated city but levies no transfer tax of its own; deeds record with Montgomery County in Rockville.
Montgomery County levies a county transfer tax of 1% on top of Maryland's 0.5% state transfer tax — 1.5% combined. On a $525,000 sale that is $7,875 of transfer tax before anything else. Absent an agreement otherwise the county transfer tax is shared evenly between buyer and seller. A qualifying first-time Maryland homebuyer gets a reduced state rate of 0.25%, which the seller then pays in full.
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.
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.
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.
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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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.