At an Ohio real estate closing, the title company informs the seller that a conveyance fee must be paid. This fee is based on the:
Correct Answer
C) Sale price of the property
Ohio's conveyance fee is calculated based on the actual sale price (consideration) of the property at the time of transfer, not the assessed value, original purchase price, or mortgage amount.
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Before a deed can be recorded in Ohio, the conveyance fee must be paid to and approved by which office?
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A buyer in Geauga County, Ohio purchases a property for $310,000. The buyer's attorney discovers that the DTE 100 form has not been completed. Which consequence is MOST likely if the form is not submitted?