The costs of transferring property include at a minimum:
1) the cost of preparing the deed;
2) realty transfer taxes, if applicable. The tax is at least 2% of the current fair market value of the property, regardless of the consideration reported on the deed (i.e. $1.00 will not avoid the imposition of the tax). There are many exceptions such as transfers between certain family members.
3) a recording fee charged by your county's recorder of deeds. The charges vary widely by county but you should expect to pay between $50 and $200.
If you are acquiring the property, you should have a title search and examination performed so that you can know whether there are any liens or other clouds on the title to the property. The cost for those will be between $250 and $500.
Answered on Sep 24th, 2014 at 12:19 PM