Real Estate Math
A buyer in Delaware County makes an offer of $375,000 on a home with combined 2% transfer tax. The seller and buyer agree the seller pays 1% and the buyer pays 1%. How much does each pay?
A$3,750 each✓ Correct
B$7,500 each
C$3,750 seller / $3,750 buyer
D$5,250 seller / $2,250 buyer
Explanation
Total RTT = 2% × $375,000 = $7,500. Each pays 1% = $375,000 × 1% = $3,750.
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