if the discloser is not done too. the owner can be suied for not saying any thing. (dont belive me look on fsbo.com) owner beware.
Just have an agent do the paper work!! Saves a lot of problems. Lawers are not looking out for any one, only that they get paid.
If you are using a Buyer's Agent then the Standard PA Agreement of Sale does state that the Transfer Tax will be shared by both the buyer and the Seller.
If you wrote up your own agreement...and this is not mentioned ...well then it needs to be worked out between the buyer and seller...if it's not in writing then it is not in writing. So, just because it does not say the transfer taxe will be shared DOES NOT mean that the buyer will pay. It is not defined who will pay, so you need to work it out.
Hope this helps.
It sounds like you didn't use the PAR Standard Agreement of Sale or this transaction. The transfer tax issue is addressed clearly and thoroughly in the PAR document. I am not an attorney, but I think that if you haven't addressed who pays the transfer tax, you cannot transfer the deed until you do so. The fact that the issue is not resolved in the contract does not mean the buyer is automatically responsible for it. However, the tax will be paid by someone or the deed cannot be transferred and transaction cannot be completed.
Good Luck, I hope that helps.
Joe Sheehan ABR, SRES
RE/Max Professional Realty, Inc.
Office: (610) 363-8444
Direct: (610) 363-4095
Normally the transfer tax is split between the buyer and seller. The buyer pays 1% and the seller pays 1%. If all of the transfer tax is to be paid by the buyer, it will be stated in the agreement in that case. Otherwise, each party pays 1%.
Brigita McKelvie, REALTOR, e-PRO, GRI
Keller Williams Real Estate, Bethlehem, PA
Office: 610-867-8888 Direct: 610-393-9424