The old phrase “They get you coming and going” is perhaps nowhere truer than in real estate transfer taxes. In some states, the tax you pay to buy or sell a home can be over 1% of its value. According to Casaplorer, America’s top five states for real estate transfer taxation are:
- Delaware: 4%
- New Hampshire: 1.5%
- Vermont: 1.45%
- Washington: 1.1%
- Pennsylvania: 1%
Real estate transfer taxes are sometimes paid by the seller, sometimes by the buyer, and sometimes both. So do your research before buying or selling. Also, there are exemptions available, so check to see if you qualify.
Action Line: Click here to subscribe to my free monthly Survive & Thrive letter.
