Financing in Las Vegas>Question Details

Cindy Collyer, Real Estate Pro in Las Vegas, NV

who normally pays the transfer tax in Nevada??

Asked by Cindy Collyer, Las Vegas, NV Mon Jul 14, 2008

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5
That is a negotiable item, however it is often paid by the seller in a re-sale transaction. In new construction it is often paid by the buyer, although due to the current market, many builders are offering to pay half or sometimes the entire amount. Keep in mind, the written agreement should clearly define which party pays that tax and it is negoatiable.
1 vote Thank Flag Link Mon Jul 14, 2008
Sorry I also should mention it is 5.10 per thousand dollars of sales price
1 vote Thank Flag Link Mon Jul 14, 2008
Hello Cindy,
Normally the seller pays the transfer tax but like was mentioned new construction builders will split the tax between the buyer and themselves or make the buyer pay for it all, it depends on builder. The market- either buyer or seller may play into who is responsible. During the sellers market of '04-'05 the sellers paid for none of their closing costs. I hope that this helps!
Joseph Ruggeroli
0 votes Thank Flag Link Mon Jul 14, 2008
Normally the seller will pay this although it is not required by any law or regulation. Sometimes new home builders will have the buyer pay for it or 50/50 split. Please let me know how I can help you.
Thank you,
Dave Grant
0 votes Thank Flag Link Mon Jul 14, 2008
Good Morning-

I've actually seen this paid by both buyer/seller, but for the most part I think the seller is the one who pays it.

Have a great day.

Patrick Moore
Senior Mortgage Banker
0 votes Thank Flag Link Mon Jul 14, 2008
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