Homesearch & Auction.com pushing Doc Stamps onto buyer

3 Replies

I am purchasing a property in FL via Homesearch.com

Looking at the contract it appears that they are trying to sneak in that the buyer will have to pay the doc stamps which is normally something the seller pays.  

I will likely not sign the contract because of this.  Has anyone had experience with this and do you know if these sellers will end up renegotiating and covering the doc stamps to avoid the deal falling apart?

Thank you!

@William Behm I bought a property from Homesearch.com and they paid all the admin fees even though it said they wouldn't in the contract. I paid for title insurance, my half of the transfer tax and recording charge. They covered everything else and it was very unexpected on my end as I had planned on paying all of that per the contract. They seemed to do whatever is customary in the location they are doing business and didn't question it when they got the HUD. I don't think they will all go like that but using my local title company sure helped. Good luck and if you have any specific questions about my experience let me know. The purchase I did was in Maryland for your reference.

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Usually, they follow local/state custom.  But, if this is a FANNIE or Freddie property, they claim "exemption" from transfer taxes as a govt entity, but the Clerk of Courts still collect it.  Therefore with those sellers, the buyer will pay, happens every day in Florida.