When you sell a home in North Carolina, the deed is subject to an excise tax, often called revenue stamps. The standard purchase contract assigns it to the seller.
How much is it?
The tax is $1 for every $500 of the sale price, which works out to 0.2 percent. On a $400,000 sale, for example, the excise tax is $800.
When is it paid?
It is paid at closing, when the deed is recorded with the county register of deeds. Your closing attorney calculates it and shows it on your settlement statement.
Other seller costs
Along with the excise tax, sellers commonly pay off their mortgage, deed preparation, broker compensation, prorated property taxes and any closing costs they agreed to cover for the buyer. Ask your broker for a net sheet that estimates what you’ll walk away with.
This is general information, not legal advice. Contract forms and rules change, so ask your broker or a real estate attorney about your situation.