Nantucket Buyer Closing Cost Calculator
The 2% Nantucket Islands Land Bank fee is the dominant buyer-side line. Exemptions exist for certain transfers — primary residence, family transfers, threshold-based — and a correctly applied exemption can save the full 2% on the qualifying portion. Verify with a Nantucket attorney before contract.
Your purchase
On a $4.50M 60%-financed Nantucket purchase, buyer closing costs run approximately $132,050 (2.93% of purchase price). The dominant line is the 2% Nantucket Land Bank fee — analogous to the Peconic Bay CPF in the Hamptons. Exemptions may apply (primary residence, family transfers, etc.) but verification requires property-specific attorney review.
Statutory taxes
$90,0002% buyer-paid land preservation fee, subject to available exemptions. Exemption mechanics — primary-residence carve-outs, family-transfer carve-outs, threshold rules — are property-specific and not safe to summarize without attorney review. Verify exemption applicability before contract.
Source: Nantucket Islands Land Bank Act, Mass. Acts of 1983 Ch. 669
Title insurance
$22,950Estimated at ~0.45% of price. Buyer-paid by island closing custom.
Source: MA ALTA-style rate (buyer-paid by custom)
Simultaneous-issue lender's policy alongside the owner's policy.
Source: Simultaneous-issue rate
Attorney + service fees
$19,100MA requires attorney representation at closing. Range $2,500-$5,000 for HNW island transactions.
Source: Market typical (island HNW transactions)
MA has no mortgage recording tax — just nominal per-page recording fees.
Source: Nantucket County Registry of Deeds schedule
Nantucket County property taxes prorate at closing per the county's fiscal calendar.
Source: Varies by closing date
Estimated at 0.5% of loan. Range 0-1.5% on HNW jumbo loans.
Source: Market typical
Island appraisals are sometimes priced higher than mainland due to travel; complex parcels may run $1,500-$2,500.
Source: Market typical
Source: Market typical
Note: The 2% Nantucket Land Bank fee shown above assumes no exemption applies. Exemptions exist for certain primary-residence transfers, family transfers (parent-to-child, sibling transfers, etc.), and various threshold-based carve-outs. Mechanics vary by property and use case — confirm exemption applicability with a local attorney before contract. A correctly-applied exemption can save the full 2% on the qualifying portion of the purchase.
The Land Bank exemption is the meaningful planning lever.
On a $5M Nantucket purchase, the Land Bank fee is $100K without an exemption applied. With a correctly-structured primary-residence or family-transfer exemption on the qualifying portion, that can drop materially. The structuring conversation is worth a 30-minute call before contract.
The Roebling Team at Compass executes transactions directly in Manhattan. For Nantucket buyers and sellers, we collaborate with Compass agents in Nantucket via referral — clients work with the best on-the-ground representation while keeping the analytical framework consistent across markets. This calculator is an informational research tool, not solicitation of representation.
For trans-market clients (Manhattan + Nantucket portfolios) or to discuss your specific transaction, schedule a consultation. Where appropriate, we’ll introduce you to a vetted Compass agent in the local market.