Pennsylvania Transfer Tax
This is a percentage of the sale price, and because of that, the transfer tax can represent a significant expense. Understanding how it is typically structured and negotiated ensures that costs of this size are anticipated early, rather than becoming a surprise at closing.
Though the local transfer tax varies from county to county, in Bucks County, the transfer tax is 2% of the purchase price, usually split evenly between buyer and seller.
However, this can be negotiated as part of the offer. Sometimes buyers get creative in this competitive market and will offer to pay BOTH sides of the transfer tax.
In Philadelphia, the local transfer tax is much higher. The total transfer tax is 4.278% of the purchase price, also usually split equally between buyer and seller.
Work with Kim Porter for expert guidance, personalized service, and proven results throughout Bucks County. With over 20 years of experience, Kim brings a strategic approach and concierge-level care to every real estate transaction.