Starting Over…, Both Buyer and Seller in Pennsauken, NJ

Conveyance Fee in NJ

Asked by Starting Over Alone, Pennsauken, NJ Mon Jun 13, 2011

I am selling my house in Merchantville/Pennsauken zip code 08109 and my real estate agent (PA / NJ licensed) is charging me a conveyance fee. Why is this fee being charged and is it legit?

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You should ask your agent for an explanation of the fee. There are several companies who charge admininstrative/transaction fees in addition to the commission they charge. If you don't want to pay the fee, discuss it with your agent..... all commissions are negotiable, however, you probably already agreed to it so it may be too late.

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0 votes Thank Flag Link Mon Jun 13, 2011
I agree with Laura. It sounds like the Realty Transfer Fee. You can learn more about the fee at the website below. Also, you should know the New Jersey Association of Reatlors has been fighting this fee and other transfer fees as well, (some municipalities have tried to pass a separate realty transfer fee and even some mortgage companies have tried to enforce a private realty transfer fee) and NJAR has fought them every step of the way. People often don't realize that Realtors have been and continue to be advocates for homeowners on a regular basis.
0 votes Thank Flag Link Mon Jun 13, 2011
Are you talking about a Realty Transfer Fee? If so, that's a state tax required by law and split between the county and state. Your real estate agent isn't charging you, the state is. For example, a sale price of $250,000 = $1325, transfer tax.
0 votes Thank Flag Link Mon Jun 13, 2011
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