LodeStar's transfer tax split dropdown will give the user the ability to choose how they want to quote the transfer taxes on a per loan basis.
Please see below which each choice in the dropdown will do to the quote when selected.
Borrower Paid - This will move all transfer taxes 100% on the buyer's side
Seller Paid - this will move all transfer taxes 100% on the seller's side
50:50 Split - This will split the transfer taxes 50% to the buyer and 50% to the seller
75:25 Borrower:Seller Split - This will split the transfer taxes 75% to the buyer and 25% to the seller
25:75 Borrower:Seller Split - This will split the transfer taxes 25% to the buyer and 75% to the seller
Default - the transfer taxes will be quoted based on what LodeStar has as the default for each county (**This is what you all are currently doing).
A couple of things to know about this tool:
- This tool is available in all pricing tiers.
- We cannot make this tool available per state. It will be available for all states only.
- We cannot default a selection per state. The user needs to go in manually and select their choice within the dropdown.
Want to get this added to your LodeStar calculator? Email support@lssoftwaresolutions.com!