Tax on the purchase of a house
Eugene Baazov asks:
Hello, how much percentage of the cost should I pay when buying a house?
Expert answers (2)
(New York Realty US)
Evgeny, thank you for your question. There is no federal (state) tax on the purchase of real estate in the United States. Depending on the state, there may be local taxes, for example, in the state of New York there is a tax on the transfer of ownership. Traditionally, it is paid by the seller, but some developers charge the buyer for this tax. This can often be discussed during the negotiation of a deal. It progresses depending on the purchase price and can range from 1.4% to 2.075%. In many states, there is also a luxury tax, it usually starts with the purchase of real estate from $ 1 million and progresses depending on the purchase amount. (in New York, it ranges from 1% to 3.9%). When buying, there are also other expenses, title insurance, credit tax, attorney's fees, etc. - we will be happy to give more detailed information and contact specialists in the right state.
28.07.2024
(Distant Property)
Good afternoon, it depends on a number of parameters-in which state you are buying a house, the size and status of the house itself, whether you are buying a house on the primary or secondary market, for an individual or a legal entity, etc. As a rule, during the initial purchase discussion, a so-called offer should be sent to you, where all the parameters are specified. And then lawyers from both sides are negotiating and offering to optimize all parameters.
28.07.2024
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The organizers of MIPIF, one of Russia's largest specialized events in the field of real estate and investment, have announced the International exhibition MIPIF Global.
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