Jun 18, 2009

Tip 20-2009: Recording Costs

Recording Costs:

In a prior tip (8-2009) I mentioned the problem of recording costs being charged on the higher of purchase price or the localities real estate tax assessment. In some cases, with the purchase price being considerably lower than the tax assessment, the recording cost paid could be hundreds of dollars more than estimated. My law firm has been successful lately in most of the local clerk's offices in basing the recording cost on a current private appraisal (usually obtained from the new buyer's lender). We have a form which we take to the Clerk's Office along with the current appraisal, which allows the Clerk to base the recording cost on the appraisal (thereby saving money for the buyer).

Please contact me if you have any questions.

William D. Tucker, III
Tucker Griffin Barnes P.C.
Charlottesville, Virginia

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