Selling a Home in Vermont
Vermont has a Property Transfer Tax (PTT) of 0.5% on the first $100,000 of value and 1.45% above — but it is customarily paid by the BUYER, not the seller, so it does not reduce your net proceeds. Sellers should also be aware of the Vermont Land Gains Tax, which applies only to short-term flips of undeveloped land held less than three years; most principal-residence sales are exempt. The biggest seller-side line items in Vermont are agent commissions, the owner's title insurance policy, attorney/settlement fees, recording fees, and any HOA transfer fees.
Vermont Title Insurance & Closing Costs
Vermont uses an attorney-closing model. The seller customarily pays for the owner's title insurance policy and their own attorney fee. The Property Transfer Tax is buyer-paid and excluded from the seller's net. Non-resident sellers face 2.5% withholding on the gross sale price at closing, reconciled when filing the Vermont return.
How to Estimate Your Vermont Net Proceeds
- Sale Price: Start with the agreed-upon contract price.
- Mortgage Payoff: Subtract your remaining loan balance and accrued interest through closing.
- Closing Costs: Deduct commissions, owner's title insurance, escrow/settlement, recording, and HOA fees.
- No State Transfer Tax: Vermont sellers skip the state-level transfer/excise tax line entirely.
Vermont Net Proceeds = Sale Price − Mortgage Payoff − Commissions − Closing Costs
