what is BUYER TO PAY ANY FLIP OR TRANSFER TAXES?

Asked by Elizabeth Polanco, Hamilton Heights, New York, NY Wed Jul 24, 2013

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Krista Abshu…, Agent, Fuquay Varina, NC
Thu Jul 25, 2013
In North Carolina we do not have a transfer fee, rather it is called a NC Revenue Fee. I imagine it is similar to the type of tax you mentioned in your question.

Although it is common in NC for the seller to pay the Revenue Fees it does not always happen. On some foreclosures and new construction the buyer is required to use the builder's /foreclosure bank's proprietary Contracts. These proprietary contracts will sometimes state that the buyer is responsible for the Revenue Fees.

I would be glad to provide you more information about this or any other real estate questions you may have.

Krista

Krista Abshure
Fathom Realty
http://www.TeamAbshure.com
919-753-6518
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Tim Burrell, Agent, Raleigh, NC
Wed Jul 24, 2013
The seller pays the transfer taxes in this part of North Carolina. The major part of the buyer's closing costs are the fees for the lender and the closing attorney. Please let me know what other information you would like.
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