Delaware Real Estate Taxes

When buying a home in Delaware one must be aware of the applicable Delaware Real Estate Taxes that must be paid for the transaction.  When a property is purchased in Delaware, there is a 4% transfer fee that must be paid, which was raised from 3% back on August 1, 2017.  It is customary for the tax to be split 2% for the seller and 2% for the buyer.  It is not a law but it is how most transactions are done in Delaware.

There are some exceptions, for example, Some Home Builders charges the buyer 3% of the transfer tax and they only pay 1%.  This can be a big difference on homes in Delaware are over $400,000. Keep Reading...