So great news, Colorado is joining the majority of states that have banned private transfer fees on the sale of properties. The bill made it through the legislature last week with no problems, and the governor should sign it into law in June.
Private transfer fees are usually a percentage of the sale price paid to a third party. Luckily we don’t have many properties in Northern Colorado that are subject to these, but it’s good to know that the rest of the state will be free of any going forward, as it unfortunately does not apply to properties that already have the transfer fees applied to their titles.
If you have any questions, please give me call….enjoy the rainy weather out there today!