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Transfer fees on the sale of Summit County property

Town Transfer Fees

A home that could have a transfer fee
Some properties in Summit County can have transfer fees.

In Summit County Colorado, transfer fees on the sale of property are relatively common. Breckenridge, Frisco, and portions of Copper Mountain and Keystone all have transfer fees that must be paid at Closing. Private transfer fees have been rare but a building permit fee could be changing that for properties in the county. The town the property resides in typically imposes the transfer fee. That fee is based on the sale price and, depending on the location can be 1-2% of the purchase price. Whether the buyer or seller pays the transfer fee should be negotiated in the purchase contract. Because this fee is based on the location of the property, whether or not a property has one is relatively easy to determine. The private transfer fee is not so obvious and can be more difficult to know about ahead of time.

Private Transfer Fees

In 2006 Summit County voters approved the addition of the Affordable Housing Development Impact Fee to be added to the cost of building permits. The amount of the fee varies based on the size of the home. If the property is located in the county, not a specific town, the county gives the option to defer payment of the Impact Fee by recording a private transfer fee due upon all subsequent sales of the property. The initial sale is exempt. The private transfer fee is smaller than the transfer fees imposed by the towns, only one third of one percent.

Initially approximately 60% of developers were opting for the private transfer fee, currently it has dropped to about 50% of applicants. The economic downturn really put a damper on new construction. As our economy improves and more and more building permits are issued, and these properties begin changing hands for the second time, the private transfer fee may become more common in our communities.

Homeowner Association Transfer Fees

Less significant transfer fees include those imposed by homeowners associations and the accountants that handle the books. Closing charges can include a $100-$200 fee imposed every time each property in the HOA changes hands. That’s their fee for calculating charges due and supplying that information to the title company. There could be a working capital contribution due from the buyer for three months worth of HOA dues. That contribution may or may not be refundable when they sell. Closing is an opportune time for both municipalities and individual companies to collect additional revenue. In order to transfer property, the title company ensures all debts have been paid.

Transfer fees are a reality in real estate sales and it appears they will continue to be in the future.

More information for Summit County area home buyers available on our Buyer page.

Originally posted 11/26/2013. Reviewed and updated for accuracy 11/2/2018

Posted in: Buyer Tips, Seller Tips Tagged: Breckenridge, Closing Costs, Copper Mountain, Frisco, Keystone, Transfer Fee

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About Us

Mountain Living Real Estate, a.k.a. The Mountain Living Team, is a family owned, second generation, real estate company that has been helping buyers and sellers in Summit County since the early 90’s.  Mountain Living Real Estate is committed to going above and beyond to ensure their clients have the most amazing real estate experience possible.  Jason & Meredith take a personal approach to educate their clients, empowering them to make high quality decisions no matter the situation.  They take exceptional care throughout the sales process and beyond; striving to make each client’s path in Summit County one filled with fun, excitement & great memories.

Work with Mountain Living Real Estate and you’ll understand why so many people say, “We Love Mountain Living!”

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Jason used amazing strategy for pricing, selling and acquisition of our next property. In this market this strategy is critical for success – especially with the buying process.

Summit County real estate is a challenging market. We have bought and sold two properties and just bought our third. Jason and Meredith have been there for us throughout this entire journey, and we couldn’t be more satisfied. Jason and Meredith have excellent communication, are realistic and honest, and have incorporated strategy and wisdom from their extensive Summit County experience to help us make our dreams come true.

Ben from Centennial February 2, 2022

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You were very knowledgeable and supportive during this transaction. I was most impressed with your calmness and smart decision making during a chaotic process. Thank you again for your calmness during all of this.

Barbara from Centennial January 24, 2022

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Jason and Meredith Adams

Jason & Meredith Adams
Mountain Living Real Estate

101 Main St, #109, PO Box 4115 Frisco, CO 80443

(888) 666-0844
team@mountain-living.com

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Jason & Meredith Adams are both licensed to sell real estate in the state of Colorado

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