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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
A real estate transfer tax is a fee imposed by state or local governments when property ownership is officially transferred from one party to another. According to the Federal Trade Commission<\/a>, this tax applies when a home\u2019s title\u2014the legal document proving ownership\u2014changes hands. The amount owed can vary based on local regulations and the property\u2019s sale price.<\/p>\n The specific transfer tax rate depends on where the property is located, as state, county, and city governments often set their own transfer tax policies. These taxes help generate revenue<\/a> for public services and infrastructure. Home sellers and buyers should be aware of these costs to avoid surprises at closing.