Franklin County Approves New Conveyance Fee on Home Sales

RealSupport — Thu, 03 Oct 2019 06:11:59 +0000

Effective October 7, 2019, all home sales in Franklin County will be subject to higher conveyance fees. The conveyance fee has increased by $1.00 per every $1,000 in sales price, bringing the total conveyance fees to $3.00 per every $1,000 in sales price. For example, on a $300,000 home sale, the conveyance fees would amount to $900.00.

Franklin County homeowners can use an online calculator to estimate their conveyance fees at franklincountyauditor.com.

The new conveyance fee will be used to boost funding for the development of affordable housing units in Franklin County. While Franklin County already directs a portion of conveyance fees to affordable housing, it’s estimated that the county will see a 50% increase in population by 2050. The fee increase is intended to meet the future housing needs of a growing population amid ever-rising real estate costs.

With the increase, Franklin County’s conveyance fee is on par with Delaware, Licking, Madison and Pickaway counties.

Conveyance fees are part of the home seller’s closing costs, and do not directly affect home buyers, per se. But whenever the cost of a home sale goes up, it can mean that home sellers will be less generous when negotiating with buyers.

But don’t worry – we know how to put purchase offers in the best possible light, and how to successfully negotiate the best price and terms for our Buyer-Clients!

As your Exclusive Buyer’s Broker, we serve your best interests at all times! Unlike real estate agents and brokerages who represent sellers, as an Exclusive Buyer’s Broker, we only represent you, the buyer, getting you the best price and terms with no conflict of interest at all times.

Understanding this distinction could literally save you thousands of dollars not only on the purchase price and terms, but also on seller concessions and home inspection issues, whether you are a first-time homebuyer or an experienced homeowner!

Andrew Show
Exclusive Buyer’s Broker, CEBA-M, MCNE, CSP, PSA,e-PRO, CREM, ABRM, AHWD
Buyer’s Resource Realty Services, www.buyershome.com
Serving Metro Columbus, Ohio with Exclusive Buyer’s Agents
7100 North High Street, Suite 204, Worthington, Ohio 43085
614-888-4110 | 888-888-4110 Toll Free | 614-839-4110 Fax

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Franklin County Approves New Conveyance Fee on Home Sales