When selling your home, don't let this happen...

When selling a home, there’s a little (BUT BIG) fee that is often missed by most real estate agents and home sellers called the Documentary Stamp Tax on Deeds.

WHAT IS THE DOCUMENTARY STAMP TAX ON DEEDS?

This is a state tax that must be paid on the sale of real estate. This fee is usually assumed to be paid for by the seller, but DOES NOT HAVE TO BE…

The current tax rate is $0.70 per $100 of the sales price ($0.60 per $100 in Miami-Dade County), which is thousands of dollars that you could be losing.

As an example: For a home that sells for $500,000 in Tampa, the documentary stamp tax calculation would be .007 × 500,000 = $3,500

HOW TO SAVE THOUSANDS AT CLOSING…

Most sellers don't even find out about this tax until the day of closing when they review their closing statement.

Don’t let this happen! With my clients, it’s my goal to educate you about the details that affect your bottom line and to negotiate these details in your favor.

In the case of the documentary stamp tax on deeds, this is an often overlooked point of leverage in a negotiation. With the right strategy, you can get this tax paid for by the buyer. If not the whole thing, then certainly a portion. 

If you want to walk away from a real estate transaction with the most amount of money as possible, then attention to every single line item is absolutely critical, no matter how small.

HAVE QUESTIONS?

When the time is right, feel free to contact me to discuss a strategy to net you the most amount of money in the sale of your home.

Best,