Transfer Tax on Property at Foreclosure Auction

November 22nd, 2010

Be aware when purchasing a property at foreclosure auction, most foreclosure contracts obligate a buyer to pay the entire transfer tax, contrary to the customary practice of a buyer paying only half the total amount due. In New Hampshire, for instance, the buyer of a property at foreclosure auction would pay the full $15.00 per thousand of the purchase price and in Maine, $4.40 per thousand.

Should you have any questions regarding this or any title matter contact your experts at Signature Escrow & Title Services at 603-431-8100.