Maryland's Transfer Taxes Made Easy with Tristar Academy

Maryland's Transfer Taxes Made Easy with Tristar Academy

Transfer taxes are extra fees you have to pay when you buy a house in Maryland. They're like a bonus cost on top of the house price. Maryland has two types of transfer taxes: state and county.

Understanding Transfer Taxes:

  • State Transfer Tax: This is a fee set by the state of Maryland. It's usually 0.5% of the house's price. For example, if your house costs $200,000, you'd pay $1,000 in state transfer tax.
  • County Transfer Tax: Some counties in Maryland have their own transfer tax on top of the state tax. The amount varies depending on where you're buying. It could be a fixed fee or a percentage of the house price. Make sure to check the rate in your county.


Why Transfer Taxes are Important?

It affects how much money they'll need to pay when they buy a house. These taxes are like extra fees that come with buying a home, and they can add up quite a bit. By knowing about these taxes, first-time buyers can plan ahead and make sure they have enough money saved up.

They can also see if there are any ways to lower the taxes they have to pay, which could save them some cash. So, understanding these taxes helps first-time buyers make smart choices and avoid any surprises when they're ready to buy their dream home.

If you're in real estate or interested in it, knowing about transfer taxes is crucial. Tristar Academy offers a course called “Understanding MD Transfer Taxes for First-Time Home Buyers that can help you learn all about it. This course is perfect for people who are buying their first home, and it's also part of Continuing Education.

In this 1.5-hour training, you'll learn a lot of important stuff. After finishing the course, you'll understand Maryland’s Recordation, Local, and State Transfer Taxes, as well as the special rules for first-time home buyers. Plus, you'll learn about:

What Recordation Taxes, State Transfer Taxes, and Local Transfer Taxes are. Special laws that apply to people buying their first home in Maryland.

The best part? 

You can take this course online using Zoom, so you can learn from the comfort of your home.

Sign up now for this 1.5-hour Maryland Continuing Education Elective course!

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