InnoVest Resource Management's Foreclosure Forum

Home Discussion Board "Hands-On" Training Title Holding Trust Annual Reunion Speaking Schedule Store Foreclosure Fundamentals Code References 50 State Foreclosure Basics Foreclosure Glossary Foreclosure Statistics 70+ Yrs Interest Rates Fillable Forms Archived Articles Dingbat Retirement Plan Links Contact / Map About Us Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Transfer tax: normal lender protocol... Posted by Rick, the Probate Guy on January 30, 2010 at 8:22 AM In Reply to: Transfer tax: normal lender protocol... posted by Alfred -- CA on January 29, 2010 at 10:55 PM These taxes used to be called 'tax stamps' and if you look at old deeds (as we frequently see) said stamps were physically affixed to the front page of a deed when recorded. I've never known any seller, including REO sellers, to pay for the transfer taxes. While the acquisition price/terms might bury the discount and compensate the buyer inadvertently, the cost of transfer taxes ought not to be a deal killer for you or your margins are just plain too skinny. Follow Ups: So... the buyer pays the "sales tax" on a property purchase. Alfred, CA 10:42 AM, 01/30/10 (4) oops... Rick, the Probate Guy 10:55 AM, 01/30/10 (3) As always... pretty much everything is negotiable. Alfred, CA 11:25 AM, 01/30/10 (2) truly negotiable Kristine-CA 7:43 PM, 02/02/10 (1) Re: truly negotiable Rob 6:01 AM, 02/03/10 (0) Post a Followup: Name : E-Mail : Subject : Comments: : These taxes used to be called 'tax stamps' and if you look at old deeds (as we frequently see) said stamps were physically affixed to the front page of a deed when recorded. : I've never known any seller, including REO sellers, to pay for the transfer taxes. While the acquisition price/terms might bury the discount and compensate the buyer inadvertently, the cost of transfer taxes ought not to be a deal killer for you or your margins are just plain too skinny. [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

Information provided by this website is for informational purposes only and is not a substitute for professional advice. Please consult your investment advisor and/or attorney before entering into any transaction. Read our privacy policy.

Copyright © 1997-date("Y"), InnoVest Resource Management
http://www.foreclosureforum.com

InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455