A seller in Ohio attempts to lower the conveyance fee by listing the sale price on the DTE 100 form as $150,000 when the actual sale price is $250,000. If discovered, what are the potential consequences?
Correct Answer
D) The County Auditor may assess the correct fee plus penalties, and the seller may face criminal charges for fraud
Falsifying the sale price on the DTE 100 form constitutes fraud. The County Auditor may assess the correct conveyance fee plus penalties. Additionally, the seller may face criminal charges for making false statements on an official document filed with a government agency.
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An Ohio buyer purchasing a home for $425,000 asks the real estate agent how Ohio's conveyance fee compares to transfer taxes in other states. The agent correctly states:
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