Last week we talked about the income tax to the seller in a property deal and how it's withheld and paid to the government. But what about the other fees and taxes paid at the time the sale, and at the time the property is transferred at the land office? We're going to explain what these are and how they are calculated this time.
Let's put these in perspective, as we did last time. Who cares what these fees are, anyway. Somebody calculates them and will tell you how much they are, right?
Right, but at a bare minimum you have to figure what they are so you'll know whether you can afford the property. Also, lots of mistakes are made in calculating these fees.
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