Who is typically responsible for paying the recordation tax in Virginia?

In Virginia, the buyer is typically responsible for paying the recordation tax. This tax is imposed on the recording of a deed or a mortgage in the county or city where the property is located. The recordation tax is essentially a fee for the legal acknowledgment of the transaction, ensuring that the ownership and the financial encumbrances are officially documented.

Generally, the responsibility for the recordation tax can be negotiated during the settlement process, but it is customary for the buyer to cover this cost. This helps ensure that the buyer's ownership of the property is recognized and properly recorded with the local government. Understanding the roles and responsibilities of each party during a real estate transaction is crucial for prospective buyers, sellers, and real estate professionals.