Upcoming Foreclosures

What is the Transfer Value of an REO foreclosure property?

I live in the UK and have seen an REO foreclosure property listed online with a Transfer Value of $10. The site does not list any other costs for the property. It is a 3bed 2.5 bath in Orlando - does this mean that the property is available to purchase outright from the owner (Bank of America) for $10?

Public Comments

1. No, it does not mean that.
2. No. The transfer value, by Florida law, is the priced paid for the property and that's the basis for transfer tax. In Florida it's called documentary stamp tax. I sell foreclosed homes and I've never heard of a $10 transfer value, unless the property is about to be condemned and have very little value. realtor.sailor