No matter what the price of the house you want to buy, there will be a certain amount of taxes on sales of houses for sale. In most cases the taxes are paid by the buyer, but sometimes buyer and seller will negotiate when it comes to paying taxes on sales of houses for sale in order give the buyer a break on the settlement costs. That can be rather hefty sum of money if you don’t qualify for a no down payment mortgage such as a Veterans’ Administration guaranteed loan.
Even at a minimal 10 per cent, a $150,000 home is going to require a $15,000 down payment in addition to the settlement costs. With the price of homes today, the average first time buyer finds it difficult to save the money for both down payment and settlement costs without some help from the seller. Therefore, it is quite common for buyer and seller to make agreements concerning paying taxes on sales of houses for sale in order for the buyer to be able to afford the house.