Many sellers go to the closing table excited to finally get their proceeds from the sale of their home. There are many costs on the closing statement, sometimes the closing statement is referred to as an ALTA or HUD Statement.  If you look closely, there is a fee referred to as a State Documentary Stamp. Depending on the state, the fee can be referred to a tax transfer fee. Different states have different names for the fee.

A State Documentary Stamp is a state required fee. It is a tax payment on deeds and other conveyances. The State Documentary Stamp cost is a one-time tax, typically paid by the seller, and is not paid annually, it is paid at closing.

You can figure out the exact amount of the tax fee if you know the formula the state uses. If you live in Florida and you would like to know about the formula,  feel free to contact me.

Joe Mojica

561-431-4069

FLproperties@joemojica.com