Deed Transfer Tax Program

I am always searching for novel and interesting ways to earn the trust and business of prospective Buyers & Sellers in Real Estate. Holm Realty’s Deed Transfer Tax Program is just one of them. When the Deed Transfer Tax was first imposed by local Municipal Governments, Real Estate Professionals voiced their concerns that this ‘money grab’ would be a barrier to home sales, and a major barrier to first time home buyers. It also lowered the price buyers could obtain for their homes as most buyers only have so much purchasing power.

The tax is a rate that is applied to the sale price of a property and is part of the ‘closing costs’, and is just one of the adjustments that lawyers typically handle when the money for a home sale trades hands.

The concern of REALTORS®was that this tax added no value or benefit to the home for its new owners – essentially, it’s just a cost of the sale.

 

The percentage applied to the sale price has increased over the years – for example, the tax can be as high as $3,000 on a $200,000 home and $6,000 on a $400,000 home.
Often times, Buyers do not have enough liquid capital to pay this tax, and it often gets ‘buried’ in the amount that is mortgaged on the home, and paid off during the term of the loan.This additional burden can make quite a difference to many families who are also paying legal fees, moving costs, insurance costs, fuel adjustments, and the like when they are buying a new home.

As Broker & Owner of Holm Realty, I have discretion in how I structure my fee arrangement on the Real Estate transactions that Holm Realty brokers. In response to the concerns raised by my clients about the Deed Transfer Tax, I developed Holm Realty’s Deed Transfer Tax Program.

When you buy through Holm Realty, we will pay your deed transfer tax*.It’s just that simple, but so meaningful to so many buyers!

Without this program, Buyers who mortgage the tax would also be burdened by paying interest on the amount of the tax paid over the mortgage term. In such a case, it may cost the home buyer almost twice as much over the term of the mortgage. In addition, you may have to buy ‘less’ home than you may otherwise qualify for, as banks factor in this tax when calculating how much they will lend you.

In other cases, where buyers manage to pay the tax in cash rather than mortgaging it, they now have more money for their down payment, money for renovations, furniture, vacation or savings for the future!

To gain further understanding of how you can benefit from the Deed Transfer Tax Program offered by Holm Realty Ltd., so you may make an informed decision about whether you qualify for the program, contact me and I’ll be only too happy to answer your questions.

This just one more reason I say   “when you win, I win.”  I also would love for you to tell your family and friends“Buying, selling, any home, anywhere – “BEST WORK WITH JAY”

*CONDITIONS APPLY.  INQUIRE FOR DETAILS.