Purchasing a home in the District
Washington, D.C. refinance

Search DC homes for sale
Title fees | Attorney costs
Washington, D.C. interest rates

 


Deed Transfer Tax= 1.1% of the sales/purchase price up to $400,000,
1.45% of the sales price over $400,000.  Seller typically pays.

Deed Recordation Tax= 1.1% of the sales/purchase price up to $400,000,
1.45% of the sales price over $400,000.  Buyer typically pays.
Click to see if you qualify for the DC Tax Abatement program

 

Recording Fees= approximately $290 total on purchases and $215 total on refinances.

- Property taxes are collected on a semi-annual basis
View property taxes online
https://www.taxpayerservicecenter.com/RP_Search.jsp?search_type=Sales

- All commercial transactions taxed at 1.45%

- Payment of the above transfer and recordation taxes are typically split between buyer and seller. Make sure you carefully examine your contract.

- No transfer or recordation taxes charged for a refinance on owner occupied and investment residential properties provided that no construction financing is involved and property qualifies as "Class 1 or Class 2 property".  See refinance mistakes to avoid..


 



------------
DC Tax Abatement Program
Total gross income per household limits:
1 person-  $50,040
2 persons- $57,240
3 persons- $64,380
4 persons- $71,520
5 persons- $77,220
6 persons- $82,980
7 persons- $88,680
8 persons- $94,380

Property must be owner occupied by a first time homebuyer AND be less than $264,000 value.  This program gives a five (5) year real estate tax abatement, and begins the October 1st after your closing date.  You also qualify for an exemption of the above 1.1% Recordation tax and an allowable credit from your seller of the 1.1% for the Transfer tax.

As proof, provide to settlement company BEFORE settlement:
- 2 most recent paystubs
- 2 most recent W-2's
- 2 most recent tax returns

 

 

Washington, D.C. real estate and title settlement attorney
Federal Title
5335 Wisconsin Ave NW, Suite 700
Washington, Dc 20015
202-362-1500

Sentinal Title
5301 Wisconsin Ave. NW, Suite 100
Washington, D.C. 20015
202-237-8222

 


Maryland closing costs
Virginia closing costs
West Virginia closing costs
Delaware closing costs
North Carolina closing costs
South Carolina closing costs
Georgia closing costs
Florida closing costs