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Updated over 7 years ago on . Most recent reply

Fantasia Bowser's profile image
Fantasia Bowser's profile image
Fantasia Bowser
  • Realtor
  • from Cherry Hill, NJ
  • Member since Apr 2, 2015
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31
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5
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Fantasia Bowser's profile image
Fantasia Bowser's profile image
Fantasia Bowser
  • Realtor
  • from Cherry Hill, NJ
  • Member since Apr 2, 2015
Connect
Fantasia Bowser
  • Realtor
  • Cherry Hill, NJ
5
Votes |
31
Posts
General Real Estate Investing

How does transfer tax work ?

Fantasia Bowser
  • Realtor
  • Cherry Hill, NJ
Posted

I have a property I'm getting ready to put under contract to wholesale. The seller contacted me today to ask if he has to pay for transfer tax since he lives in NY but the property is in NJ. Does anyone know if normally the seller pay the transfer tax or does the buyer usually cover it? Also, what is the percentage for the tax ? 

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