Legal Question in Real Estate Law in Pennsylvania

I signed a contract for a hud home. After I signed the contract the seller hud added 2 percent on the transfer tax that I now have to pay.. I never signed off on this


Asked on 8/08/12, 5:23 pm

1 Answer from Attorneys

Miriam Jacobson Retired from practice of law

In Pennsylvania, customarily buyer and seller each pay 1/2 of the total transfer tax, which consists of the county transfer tax and the Commonwealth transfer tax. The transfer taxes are based on the the higher of 1% of the purchase price or the fair market value.

The county taxes vary. The PA transfer tax is 1% of that value, and In Philadelphia, the County tax is 3%, so that the total tax is 4%, and each party pays a total of 2%.

I don't know if this answers your question, since it's not altogether clear what that question is.

THIS RESPONSE IS NOT LEGAL ADVICE, SINCE I DO NOT HAVE ALL OF THE INFORMATION THAT WOULD BE REQUIRED, AND I DO NOT HAVE A REPRESENTATION AGREEMENT WITH YOU.

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Answered on 8/08/12, 6:32 pm


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