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Delaware Form 5402

Delaware Form 5402

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Instructions and help about Delaware Form 5402

are you a Delaware first-time homebuyer then I've got some great news for you the state of Delaware just passed a bill that gives an exemption to first-time homebuyers on a portion of the state transfer tax hello I'm Donna Thomas with primaries attention mortgage here to give you an update on this new bill that just passed August 30th 2018 so the state transfer tax currently is 4% on the purchase price of any home bought or sold in Delaware commonly and split 2 percent to the buyer 2 percent to the seller now that transfer tax was increased last year August 1st 2017 where was 3 percent and it went up to 4 percent so it was 3 percent one and a half percent was going to the county 1/2 percent was going to the state so the state decided to increase their portion of the transfer tax by 1 percent so it went from 1.5 to 2.5 percent add that to the county's 1 point 5 that time we get the 4% we currently have now what was just passed was an exemption for Delaware first-

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