Key Takeaways
- Average Total Closing Costs: ~1%–3% of the sale price (Source: https://www.bankrate.com/real-estate/average-closing-costs/)
- Average Timeline for a Traditional Sale: 100–125 days total (10–12 days prep, 60–70 days on market, 30–45 days closing) (Sources: Zillow, Redfin)
- Disclosure Requirements: Sellers in Maine must disclose structural or environmental issues and any other material facts. (Source: https://www.maine.gov/pfr/professionallicensing/professions/real-estate/forms)
- Alternatives: As-is and sale-leaseback options are gaining popularity for faster, less disruptive sales.
How Long Does It Take to Sell a Home in Maine?
Selling a home in Maine typically takes 100–125 days. Here's the breakdown:
- Preparation: 10–12 days to clean, repair, and stage.
- Days on Market: 60–70 days (Source: Redfin Market Data)
- Closing: Around 30–45 days once under contract.
Top Counties: Quick Insights
|
County/Metro |
Market Insights |
|
Cumberland |
Portland drives demand, winter slowdowns expected. |
|
York |
Coastal homes attract seasonal buyers. |
|
Penobscot |
Stable demand in Bangor, moderate pricing. |
|
Kennebec |
Affordable homes, longer closing periods. |
|
Androscoggin |
Smaller inventory, buyers expect deals. |
Steps to Selling in Maine
Step 1: Set the Right Price
Use a Comparative Market Analysis (CMA). Pricing too high can lead to extended days on market. Pricing too low may leave money on the table.
Step 2: Complete Required Disclosures
Maine requires disclosure of structural issues, plumbing/electrical systems, and environmental concerns. Failure to comply may result in legal action. (Source: https://www.maine.gov/pfr/professionallicensing/professions/real-estate/forms)
Step 3: Decide Between Traditional, Wholesale, or Sale-Leaseback
|
Method |
Pros |
Cons |
|
Traditional Sale |
Max exposure; market competition |
~60–90 days total; staging & prep required |
|
Wholesale |
Rapid close (often <30 days); no prep |
Offers may land ~30% below market value |
|
Sale-Leaseback |
Sell as-is, stay in your home, avoid staging/showings |
Requires ≥20% equity to qualify |
Step 4: Understand Closing Costs
Typical seller costs in Maine include:
- Agent commissions: ~5–6%
- Title and escrow fees: ~0.5%
- Seller concessions and HOA fees (if applicable)
(Source: https://www.bankrate.com/real-estate/average-closing-costs/)
Want to Sell Fast but Stay in Your Home?
Sell2Rent offers:
- As-is sale with no showings
- 24-hour cash offer
- Close in as little as 15 days
- Stay as a renter after selling your home
Final Thoughts
Whether you're aiming for top dollar, a fast sale, or the ability to stay in your home, Maine homeowners have options.
Explore traditional, wholesale, or leaseback strategies depending on your financial goals and personal needs.
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