Question

A house sold for $140,000 with the buyer making a 20 own payment. the grantor's tax is charged at $1.00 per $1,000, what would the tax amount to?

Answer 1

The grantor's tax is charged at $1.00 per $1,000, the tax amount would be $140 based on the selling price.

What is a down payment?

The cash upfront paid by the buyer in real estate transactions and other significant purchases is known as a down payment on a house. For a home being used as a primary residence, down payments, which are typically a percentage of the purchase price, can range from as little as 3% to as much as 20%. The sort of mortgage you select, as well as the financial status and the kind of property you're purchasing (such as whether it's a primary residence or an investment property, for example), usually decide the down payment amount.

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