Nevada's real property transfer tax is:
Correct Answer
B) $1.95 per $500 of value for most counties, with an additional $0.65 per $500 in some counties for affordable housing
Nevada imposes a real property transfer tax of $1.95 per $500 of value (or fraction thereof). Clark County (Las Vegas) and Washoe County (Reno) add $0.65 per $500 to fund affordable housing.
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Related Concepts
An adjustable-rate mortgage (ARM) has an interest rate that changes periodically based on market conditions, typically after an initial fixed-rate period. The rate adjustment is tied to a financial index plus a margin.
Closing costs are the fees and expenses paid by the buyer and seller at the closing of a real estate transaction, beyond the purchase price. They typically range from 2-5% of the purchase price.
A conventional loan is a mortgage that is not insured or guaranteed by a government agency such as the FHA, VA, or USDA. It is originated and funded by private lenders and may be conforming or non-conforming.
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