Ok, the paralegals at my job told me the Purchaser pays for the transfer tax and the Seller pays for the NYS and NYC mortgage tax. But a realtor told me that it's the other way around. What did you pay as purchaser?
we paid NYS and NYC tax for sure! (it wasnt pretty!)
Our seller paid the transfer tax. The realtor is right.
Weird. Because I work in a law firm in the real estate department, and the paralegals told me it's the other way around. I believe my attorney said so too.
Yes that is strange. I guess it is different in different situations. I remember reading on the document from town of brookhaven about all the taxes that were paid and transfer tax was charged to the seller.
The Seller pays all transfer taxes - NYC and NYS. The Buyer pays all mortgage taxes on their mortgage.
Posted by violet
Weird. Because I work in a law firm in the real estate department, and the paralegals told me it's the other way around. I believe my attorney said so too.
Posted by thiadora
Posted by violet
Weird. Because I work in a law firm in the real estate department, and the paralegals told me it's the other way around. I believe my attorney said so too.
However- sometimes when it is new construction, the transfer taxes are paid by the purchaser.
