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04. Can the Maine Real Estate Withholding amount be reduced?

Yes. At the request of the seller (Grantor) or the buyer, the withholding may be reduced. If the capital gain realized on the sale of Maine property times 8 ½ % is less than 2 ½ % of the sales price, that lower amount may be allowed as withholding. Installment sales may also result in a reduced withholding amount (see question 8). If there will be no capital gain, the seller may apply for an exemption from withholding (see question 5).