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Old 06-19-2009, 07:16 PM
25 posts, read 108,969 times
Reputation: 20


I have just sold my home in NY or should i say-gave it away-had to drop the price low enough to force someone to buy it,what a shame.Anyway can anyone tell me the answer to this question?????

When i went to my closing my lawyer told me that the state will force me to pay a title transfer tax of $4.63 per every thousand dollars of my sale price which added up to two thousand dollars and then they charged the new owners a mortgage tax of 1%.We all know this is bullcrap and they use fancey names just to rip you off for your hard earned money and could care less of peoples struggles to survive but any way my question is does NC play these kind of games when you sell a home and also mortgage one in the state of NC or is this comfined to just this lovely place here in the northeast called NY.

Buy the way NY does nothing for this money whatsoever,its just revenue based with no work on the states part,its just a way to take more money from you just in case you vacate this state which i will soon enough.
They can keep my two thousand dollars,i am still ahead of the game.
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Old 06-19-2009, 08:40 PM
306 posts, read 784,685 times
Reputation: 246
Every state has a transfer tax, and each is a different percentage. When we left NJ we paid 5K for ours. Yes, $5,000. But I can't believe your real estate attny didn't go over all of this with you before you got to closing?? Did you not know how much you'd be walking away with when all was said and done?
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