| A real estate transfer tax is a one-time tax | | | | of .01% in Colorado to a high of 1.28% in |
| paid at the closing of a property, and is | | | | Washington state.Variations on transfer taxes |
| considered a stream of revenue for state | | | | include; in Arizona only charges a tax on |
| budgets. This transfer tax though, once | | | | deeds. However Alabama and Florida charge on |
| collected is not generally used for | | | | deeds and mortgages. To avoid financial |
| housing-related purposes. The tax is based on | | | | surprises, inquire early as to who pays |
| the value of a property as agreed to by the | | | | (buyer or seller) and how much transfer taxes |
| parties in a real estate contract.In the | | | | will be. Some states dictate who pays the |
| excitement of selling or buying a home, often | | | | tax, and some just want the tax paid. This |
| the real estate transfer tax cost is | | | | cost can typically be negotiated between the |
| overlooked. Depending on locale, either the | | | | parties. Consult an experienced real estate |
| buyer or seller pays the tax at closing or | | | | attorney.A handy online link for transfer |
| escrow, but beware in New Hampshire both the | | | | taxes for all fifty states. Resource Center |
| buyer and seller pay, half of 1.5%!. In some | | | | Realty Transfer Tax/Transfer tax |
| states it can be a formidable amount, you | | | | chart.pdfMark Nash, is a residential real |
| should be prepared for what the transfer | | | | estate author, broker, columnist and writer |
| taxes will be, and who pays them, before you | | | | based in Chicago. His fourth book 1001 Tips |
| start a home search or list your home | | | | for Buying and Selling a Home received |
| for-sale.The good news is, thirteen states | | | | eighteen five star reviews on His latest |
| don't have a real estate property tax. They | | | | book; Real Estate A-Z for Buying & Selling a |
| are: Alaska, Idaho, Indiana, Louisiana, | | | | Home will be published in December 2006. Mark |
| Mississippi, Missouri, Montana, New Mexico, | | | | publishes a free monthly ezine for real |
| North Dakota, Oregon, Texas, Utah, and | | | | estate professionals. Agent to Agent features |
| Wyoming.The bad news is that the remaining | | | | ten articles that offer free reprints for |
| thirty-seven states and The District of | | | | agents, home buyers and sellers through . |
| Columbia charge taxes on the transfer of a | | | | Real estate news and book reviews, Celebrity |
| property. The tax is only levied once when a | | | | Homestyles, Home selling and buying tips and |
| property is exchanged between parties, unlike | | | | advice, Joke-of-the-Month, Help this Agent, |
| general property taxes which are paid | | | | and agent marketing tips. Over 5000 |
| annually and are based on the assessed value. | | | | subscribers in the U.S. & Canada. |
| Real estate transfer taxes range from a low | | | | |