Home Buying in Mission Bay>Question Details

Angie, Home Buyer in Mission Bay, San Fra...

Does buyer or seller pay the transfer taxes, city and county, on new construction in San Francisco?

Asked by Angie, Mission Bay, San Francisco, CA Thu Dec 15, 2011

The seller is telling me he will agree to pay $5,000 of transfer taxes on a property to be sold at $875,000. Aren't these taxes usually paid by the seller anyway? So is this a non-offer?

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Hi Angie,

Sounds like you need a Realtor to help you, I presume you are buying at a new development by this question. It is common for the buyer to pay transfer tax on this type of property, but everything is negotiable.

Remember this, new developers will pay your agent fees for you and no extra amount in the price of the property, they just like to represent both sides and save some $$$
0 votes Thank Flag Link Sun Jul 8, 2012
In San Francisco the transfer tax is usually paid by the sellers but there are circumstances where a buyer, especially an all cash buyer, would want to pay this cost. There are some tax advantages to this, but you should talk to your CPA to get all the details if you're interested.

Take care,
Mike and Stella
Web Reference: http://stellaandmike.com
0 votes Thank Flag Link Sun Dec 18, 2011
Do you have your own agent or are you working directly with the developer?

Oggi Kashi
Broker Associate, Paragon Real Estate Group CA DRE 01844627
All data from sources deemed reliable but subject to error and omission, and not warranted.
Web Reference: http://www.oggikashi.com
0 votes Thank Flag Link Thu Dec 15, 2011
Seller is responsible for paying realty transfer fee...100%
0 votes Thank Flag Link Thu Dec 15, 2011
In SF, it is usually customary for the seller to pay for both county and city transfer tax. There are no county transfer taxes in SF and the city transfer taxes for a $875K property would be $6.80/thousand. In your case, it would total $5,950. So it sounds like the builder does not want to pay the extra $950? You might want to ask them about that and see if they have their numbers correct or not.
0 votes Thank Flag Link Thu Dec 15, 2011
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