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\n <\/div>\n \n Connect with a Top Agent to Help Maximize Value<\/h3>\n
Even rockstar agents can’t make your tax liability disappear, but HomeLight data shows that the top 5% of agents across the U.S. help clients sell their home for as much as 10% more than the average real estate agent, helping offset the tax bill.<\/p>\n \n
What are transfer taxes?<\/h2>\n
The Federal Trade Commission<\/a> defines transfer taxes as a tax imposed by state or local governments when ownership of property is transferred from one party to another. This tax applies when the title, the legal document establishing ownership, changes hands during a sale.<\/p>\n Transfer taxes vary based on your property\u2019s location, as they are regulated at the state, county, or city level. Like others, these taxes are designed to generate revenue<\/a> to support public services. Sellers and buyers should familiarize themselves with their area’s specific rates and rules to understand the costs associated with their transactions.<\/p>\n