Private Transfer Fees in Real Estate Transactions
Discover insights into private transfer fees in real estate, including their impact on sales prices, restrictions in deed, and considerations for both buyers and sellers. Explore how these fees are typically structured, collected, and negotiated, shedding light on their implications for all parties involved.
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Presentation Transcript
Private Transfer Fees July 2023
PRIVATE TRANSFER FEE WRITTEN INTO DEED RESTRICTIONS,REQUIRING A % OF THE SALES PRICE GO BACK TO THE ORIGINAL DEVELOPER
Generally disallowed in 2011
THINGS TO CONSIDER
1 These are not HOA fees - these go to the developer
2 They are typically 1% of the Sales Price
3 They can be collected cumulatively
4 Pending lawsuits to not solve the problem - we have to collect
5 Contract says the Seller pays, but this can be negotiated
