Thursday, January 11, 2007

Transfer Taxes - Updated Deviations

Most municipalities charge 1% of the sale price when ownership transfers. Be sure to check this list of deviations for your municipality.

Buyers and seller customarily split transfer taxes, but the matter is entirely negotiable.

The Commonwealth of Pennsylvania charges 1% of the sale price.

When estimating costs be sure to account for both municipal and state taxes.

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