selling to a relative

[billybob]

when selling a house to a relative other than a spouse,is there any transfer fee, or tax, if so how much? the home is being sold for the same amount as purchased, so there is no capitol gain for the seller. the seller is doing the financing, charging no interest to the buyer. this is a "father to son" deal.

 

[HomeGuru]

<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by billybob:
when selling a house to a relative other than a spouse,is there any transfer fee, or tax, if so how much? the home is being sold for the same amount as purchased, so there is no capitol gain for the seller. the seller is doing the financing, charging no interest to the buyer. this is a "father to son" deal.<HR></BLOCKQUOTE>

There should be no capital gains tax but there would be a State conveyance tax and possibly a recording fee depending upon the requirements of your State. Check with an escrow company the recorders office.