I keep hearing about the reduction for first time home buyers but I want to know if this means 1st time in Delaware? or anywhere else in the country? In other words. I'm selling in NY If I buy then in Delaware will I be eligible for "1st time Delaware buyer" reduction in the transfer tax?
I was born here and Delaware is getting so bad and no, not everyone is nice, jobs are terrible, Amish are leaving by the droves, a lots of drug addicts and alcoholics that you don't see. Local foods, yeah right the good restaurants have closed in Dover and you need a car to get around because the bus system is mediocre at best. ohh and Delaware has more dollar general, family dollar, dollar trees than most places. Hell, in hartly there is a family dollar and directly across the street they are building a Dollar General. Ohh and I hear people here are pissed about the housing taxes and how there were heavy increases. We have doctor shortages , people from here like some retirees have been complaining that they can't afford living here any more and some have had to get roommates. And the traffic is god awful.
I understand to register a car in Delaware can be costly, was told if I reregistered it from New York that I had to pay tax on each car all over again to the state of Delaware, Also was told when buying a new home there is a one time tax which may be over 4 percent. Can you provide information on these two subjects?
Ohh good questions! Let me dig into those 2 things for you. Property Transfer tax - When you buy or sell a home here in Delaware, the state/county charge you a combined 2% transfer tax. So both the buyer and the seller have to pay a 2% tax, totaling 4% in total. For many of my clients looking to buy in Delaware, I've been able to negotiate the seller covering that transfer tax for them. Vehicle transfer tax - If you are transferring the title/registration from out of state into Delaware, the DMV does charge a 4.25% fee off of the sales price OR NADA value. You do have the ability to also get an appraisal from a Licensed Delaware Dealer as well, if you think theres a chance where that could be cheaper Vs the NADA value. For more information on this, here is a link to the DMV site: dmv.de.gov/VehicleServices/titles/index.shtml?dc=ve_title_outstate
The round number I like to give is about 8% of the sales price if your buying under 500k. This percentage can vary slightly depending on factors like: if you're a first time home buyer, if your buying cash vs a mortgage, etc. A lot of my clients have had a lot of success with White Cap mortgage base in Dover. If your curious about finding out more, I'd be happy to chat! 302-305-6161
Hey! So in the rental space, not a whole lot for that reason (not that it doesn't happen). I see most of my clients looking to find a new rental/buying for the first time because of two major reasons: job change and family growth (couples moving in together, having kids, taking care of family members, etcs). I will say though, that could likely change in the near future with the increase in rent vs increase of income within the overall Delaware market the last couple of years.
I keep hearing about the reduction for first time home buyers but I want to know if this means 1st time in Delaware? or anywhere else in the country?
In other words. I'm selling in NY If I buy then in Delaware will I be eligible for "1st time Delaware buyer" reduction in the transfer tax?
I wish I was born in a good area that will bring me good spirit ❤
@@Willy800-s9n good news you might not of been born in Delaware but you can move here 😁
I was born here and Delaware is getting so bad and no, not everyone is nice, jobs are terrible, Amish are leaving by the droves, a lots of drug addicts and alcoholics that you don't see. Local foods, yeah right the good restaurants have closed in Dover and you need a car to get around because the bus system is mediocre at best. ohh and Delaware has more dollar general, family dollar, dollar trees than most places. Hell, in hartly there is a family dollar and directly across the street they are building a Dollar General. Ohh and I hear people here are pissed about the housing taxes and how there were heavy increases. We have doctor shortages , people from here like some retirees have been complaining that they can't afford living here any more and some have had to get roommates. And the traffic is god awful.
Do you know if it’s diverse?
I understand to register a car in Delaware can be costly, was told if I reregistered it from New York that I had to pay tax on each car all over again to the state of Delaware, Also was told when buying a new home there is a one time tax which may be over 4 percent. Can you provide information on these two subjects?
Ohh good questions! Let me dig into those 2 things for you.
Property Transfer tax - When you buy or sell a home here in Delaware, the state/county charge you a combined 2% transfer tax. So both the buyer and the seller have to pay a 2% tax, totaling 4% in total. For many of my clients looking to buy in Delaware, I've been able to negotiate the seller covering that transfer tax for them.
Vehicle transfer tax - If you are transferring the title/registration from out of state into Delaware, the DMV does charge a 4.25% fee off of the sales price OR NADA value. You do have the ability to also get an appraisal from a Licensed Delaware Dealer as well, if you think theres a chance where that could be cheaper Vs the NADA value. For more information on this, here is a link to the DMV site: dmv.de.gov/VehicleServices/titles/index.shtml?dc=ve_title_outstate
What is the average closing costs for buying a house in Delaware? Which lenders are considered the best to apply for a mortgage?
The round number I like to give is about 8% of the sales price if your buying under 500k. This percentage can vary slightly depending on factors like: if you're a first time home buyer, if your buying cash vs a mortgage, etc.
A lot of my clients have had a lot of success with White Cap mortgage base in Dover. If your curious about finding out more, I'd be happy to chat! 302-305-6161
Delaware does not have rent stabilization. Is there a lot of moving around because of this?
Hey! So in the rental space, not a whole lot for that reason (not that it doesn't happen). I see most of my clients looking to find a new rental/buying for the first time because of two major reasons: job change and family growth (couples moving in together, having kids, taking care of family members, etcs).
I will say though, that could likely change in the near future with the increase in rent vs increase of income within the overall Delaware market the last couple of years.
Very manipulative you're telling all the good things about Delaware and why you'd want to move there but by saying that it's a negative thing
@@BillieJean-b4z it’s called flipping the script my friend.