Question
Flint is purchasing a home for $115,750 and is financing 85% of it. The documentary stamp tax on the deed in his state is $0.70 per $100 portion thereof. How much will he pay for the documentary stamp tax?
a.$1405.54
b.$1653.57
c.688.71
d.810.25
My answer is d because the stamp on the deed is the selling price, not the mortgage amount.
a.$1405.54
b.$1653.57
c.688.71
d.810.25
My answer is d because the stamp on the deed is the selling price, not the mortgage amount.
Answers
Steve ®
I agree