• Property Search
  • Berks County PA
  • Bucks County PA
  • Carbon County PA
  • Chester County PA
  • Lehigh County PA
  • Northampton County PA
  • Poconos
  • Schuylkill County
  • International Horse Properties

PA Horse Farms Today

The Premier Equine Realty Firm Serving Eastern PA

  • Home
  • About
    • Cindy Stys
    • The Team
    • Testimonials
    • Online Reviews
    • Leave Us Feedback
  • Buyers
  • Sellers
    • Property Evaluation
  • High Value Farms
  • Blog
  • Contact
You are here: Home / Real Estate News / Great News For Pennsylvania!! Private Transfer Fees Are Now Prohibited!!

Great News For Pennsylvania!! Private Transfer Fees Are Now Prohibited!!

June 24, 2011 by Brigita McKelvie

Pennsylvania Private Transfer Fees

Great news and a victory for Pennsylvania!! Governor Corbett signed into law today that private transfer fees are banned, which brings Pennsylvania as the 28th state to ban it.

Private transfer fees are part of a covenant attached to a property deed that forces the seller to pay 1 percent of the purchase price to a private third-party entity every time the property sells over the next 99 years. These fees cost unsuspecting homeowners thousands of dollars in additional closing costs.

How can anyone allow a third party with no interest in the property continue to collect fees?

These private transfer fees would have made it very difficult for Pennsylvanians to purchase or sell a home. These fees are totally unfair to the homebuyer and the homeseller. If this had passed, it would have hurt the real estate industry even more, while it is trying to recover.

The Pennsylvania Association of REALTORS. the Pennsylvania Land Title Association, the National Association of REALTORS, American Land Title Association, Consumers Union, and Consumer Federation of America all fought to ban the private transfer fees.

Pennsylvania Private Transfer Fees

Filed Under: Real Estate News Tagged With: Real Estate News

newlog

Get in Touch With Us

Contact us right away for more information

610-849-1790

Cindy Stys Broker/Owner

License #RM420165

Latest Posts

  • Hydrotherapy Equipment Could Help Horses with Kissing Spine
  • Benefits of the Cold Saltwater Spa
  • Caring for your Horse this Winter
  • Don’t Want To Spend Another Cold Winter On The Farm? List Now, and Take Great Photos!
  • Spring Is Here, Get Ready To List Your PA Horse Farm!
  • Is Your PA Horse Property Ready For Colder Weather?
  • The End of Dana Point Farm’s Thoroughbred Legacy
  • 2016 Olympic Equestrian Teams Named
  • Chester County Manure Management Workshops
  • Equestrian Estate Available in Nazareth, PA

Cindy Stys Equestrian & Country Properties, Ltd.
720 Smith Hill Rd
Stroudsburg, PA 18360
Cindy Stys, Broker/Owner
License #RM420165

Copyright © 2014 Cindy Stys Equestrian and Country Properties, LTD · All Rights Reserved · Design by IG Webs