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Real Estate Bits and Pieces

Blog by Susan Pruden
Cheverly, Maryland
Informal observations about Prince George's County Real Estate and happenings around our local area. I'm Susan Pruden, in Cheverly Maryland and I welcome your comments and participation.

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Save some money if you're a teacher
Posted at Real Estate Bits and Pieces by Susan Pruden
Wednesday, February 15, 2006
Categorized in: Closing Costs
Tagged with: closing costs

 

DID YOU KNOW???.. .In 2001, HB 1197 was passed, granting a Transfer Tax discount to Prince George's County Public School System classroom teachers buying and agreeing to occupy a home for a period of at least three (3) years as a principal residence. Those eligible will be charged no more than 1% County Transfer Tax at settlement, instead of 1.4%.

Be sure to tell your agent or your settlement company if you are a classroom teacher in the county, because you'll need to fill out a special form and certification prior to settlement.

For example, on a $300,000 purchase, you could save $1,200 in closing costs -- which is nothing to sneeze at.

(c) 2006 Susan Pruden

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