Home Selling in Peterborough>Question Details

Eastnetsol, Home Seller in Peterborough, NH

In selling a home in Nh how much does the seller pay for Transfer tax

Asked by Eastnetsol, Peterborough, NH Tue Jul 26, 2011

Need to know the percent of transfer tax at closing

Help the community by answering this question:


Typically this is split between buyer and seller each portion is determined by taking the number 7.5 and multiplying that by the number of one thousands in the sale (rounded up I believe but not sure on that. So if your home sold at 300,000 you would be paying as your share 300 X 7.5 = $2,250
0 votes Thank Flag Link Tue Jul 30, 2013
We dont have that Gerard, but with no income tax and no sales tax the state has to get their money to waste some how.
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Sun Jul 31, 2011
New Hampshire has one hell of a way to pick your pocket doesn't it, do they also have a mortgage stamp to pay?
0 votes Thank Flag Link Thu Jul 28, 2011
The trasfer tax is based on $15 per thousand or 1.5% of sales price. The tax stamps are usually split between the buyer and seller 50/50. Some banks in during bank owned sales will put in their contract the buyer pays all. Who pays what should be included in writing in the purchase and sales agreement. i hope this helps
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Thu Jul 28, 2011
If you are thinking about what you might net from a sale, the transfer tax is only one cost in the transaction figured as $7.50 per thousand dollars of the contract price.

As the seller you are also responsible for the preparation of the deed to buyer. The buyer's title company or attorney may offer to prepare that and deduct the cost from your proceeds, or you may have an attorney or title co. of your choice prepare the deed and deliver their invoice and the deed to the closing entity. This can vary, but along with miscellaneous seller charges, say, $200-300.

Note that if your property is in a flood zone, the buyer may ask you to pay for a base flood elevation survey to be done to prove that your house is indeed NOT in a flood zone otherwise the buyer will be paying flood insurance.

There is a real estate commission if you engage the services of a broker. That cost will be as provided in your listing agreement.

Finally, you should be aware that if your property is in the price range, say under $250,000 for example, where federally-backed loan programs (e.g., FHA, VA, USDA-RD) are popular with buyers, buyers will be asking for you as the seller to contribute to their closing costs and prepaid expenses. Lenders typically tell buyers the amount of loan they are qualified for and the maximum credit to closing costs they can receive. Then, based on that buyers will often make offers asking you to contribute at the maximum amount their lender stated.

You might say that you will not make any such contribution, but the reality is that if your home is attracting that group of buyers, they need your help to get the deal done. If you are working with an agent, he/she should have covered this in order to set your expectations. Or, you might say that you will just add an amount onto the agreed price to cover that. However, in this case you have to be sure that the property is going to appraise. It can be a tightrope.

Regardless of what lenders have approved for the buyer, you can figure roughly 3.0 to 3.5% would be the amount most buyers will need excluding interest rate buy-dwns (points) or fuel proration which you could specifically state are not to be included in figuring the credit.

Very important that the contract either state a specific dollar amount or say "UP TO" the percentage. I have seen several cases where stating exclusions and saying "up to" has resulted in an additional net to the seller of $1,000 or more. IN a transaction of say $150,000 it is very hard to find moe than 3-3.5% of allowable costs although buyers will have it stuck in their minds that they can get that 5-6% that their lender mentioned.

Hope that is helpful.

Chuck Braxton, REALTOR GRI
Roche Realty Group, Inc.
Web Reference: http://www.ChuckBraxton.com
0 votes Thank Flag Link Wed Jul 27, 2011
NH State transfe Stamps are $15.00 per $1,000 of the sales price of the house. the Buyer AND Seller both split this fee. So the Seller's side would be $7.50 per $1,000 of the sales price. For example; A home that sells for $200,000: Seller and Buyer would pay as follows: 200 x $7.50= $1,500

Best of luck! Please feel free to call or email anytime with furthur listing questions . I'm right here in Antrim!

Jenn Clifford, REALTOR
Manning Williams Agency
Direct: (603) 588-3778
0 votes Thank Flag Link Tue Jul 26, 2011
If you multiply .0075 x the sales price, that's your portion of Transfer Tax in NH.
All the Best!
Phyllis and Steve Brown
The Brown Home Selling Team at RE/MAX Insight
0 votes Thank Flag Link Tue Jul 26, 2011
Hi Eastnetsol

The transfer tax is split between seller and buyer. So each party pays $7.50 per thousand. Lets make this easy, if you sell your home for $100,000, you and the buyer would both pay $750.00 for the transfer tax.

Hope this answers your question.

Tracey Guy
Prudential Verani Realty
0 votes Thank Flag Link Tue Jul 26, 2011

The transfer tax in NH is 1.5% of the sales price and is typically split 50/50 between the buyer and seller...

Please let me know if I can help further...

Regards, Lee

Lee P. Johansen
Keller Williams Realty Metropolitan
168 South River Rd. Suite 1A, Bedford, NH 03110
Cell: 603-315-0739
Fax: 603-628-2246
Office: 603-232-8282
E-Mail: Lee@LeeJohansen.com
Licensed in New Hampshire

I'm never too busy
for your referrals
0 votes Thank Flag Link Tue Jul 26, 2011
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