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Transfer Taxes on GFE

Hi,
I am a buyer of a property in Trumbull, CT and the GFE i recently received has a "Transfer Tax" on it. The property is not new and not a short sale, but a regular transaction. As I understand in CT, the transfer tax is something that is paid by the Seller. 
1. So why does my GFE show it?
2. Should I push the lender to remove it from the GFE?

Please advice. Thanks in advance.

Regards.
  • August 06 2013 - Trumbull
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Answers (4)

Typically transfer taxes are paid by the seller in Connecticut.  It doesn't really matter if it's on the GFE, since that's just a disclosure, but your attorney (again, typically) won't put it on the buyers side on the final HUD.

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This is not legal advice and is not intended to create an attorney-client relationship.  The post is only an opinion.  You should speak to an attorney for further information.  The poster is licensed only in CT & NY.    If this post is useful to you, please remember to upvote it.
  • August 07 2013
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The GFE simply discloses the transfer tax. Ask your lender to have the title company provide you a preliminary HUD fee sheet as soon as possible. This will provide you with the details of buyer and seller charges.
  • August 07 2013
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That is all determined via the purchase agreement on what you work out with the seller.  If the seller is paying it then it should be shown but paid via the seller and not you.
  • August 06 2013
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I am not sure about the rules in CT. But it depends on if your purchase contract had you or the seller paying the transfer tax. If the purchase contract hasn't been signed yet, then this is normal act of covering your bases incase the fee does apply to you. If the seller is fully responsible, it is not necessary to have it on the GFE. It may have been set up as a default input since it is required to be on the GFE if you are responsible for even a portion of it. It is always better to over-disclose fees on the GFE. I would clarify if tranfer taxes are paid by the seller in all cases in CT.
  • August 06 2013
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