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Updated over 10 years ago on . Most recent reply

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William Behm
  • Bush, KY
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Homesearch & Auction.com pushing Doc Stamps onto buyer

William Behm
  • Bush, KY
Posted

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!

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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
13,509
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

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.

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