If Governor Chris Christie follows through, we may be saying Goodbye to Realty Transfer Fees. If you’re not familiar with Realty Transfer Fees, this is a fee that is imposed upon recording the deed of newly purchased property. In Atlantic County, New Jersey with a median sales price of $200,000 the Realty Transfer Fee would be $1,688. Whew!
If Governor Christie makes this happen, that would be a great to all homeowners around the state, especially those facing foreclosure or short sale.
I’ll let you know what happens.