Missouri has no real estate transfer tax, does not require an attorney at closing and imposes only limited seller disclosures. It allows both court and out-of-court foreclosure and is not a community property state.
Missouri in short
Is there a real estate transfer tax in Missouri?
Missouri does not tax the transfer of a home in any statute or fee schedule reviewed, and its Constitution (Article X, Section 25) bars any new tax on the sale or transfer of real estate since December 2, 2010. In St.
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What closing costs does Missouri law set?
Missouri has no official typical closing-cost total. No transfer tax was found (the Constitution bars new ones since December 2, 2010) and in the City of St. Louis a standard deed costs $25 for the first page plus $5 per extra page to record.
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How is property tax calculated in Missouri?
Missouri assesses a home at 19% of market value and local districts apply their rates per $100 of assessed value. The City of St. Louis 2025 residential rate is $8.1867 per $100, about $3,336 a year on a $214,500 home.
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What is the deadline to appeal a property tax assessment in Missouri?
In the City of St.
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Do you need a real estate attorney to close in Missouri?
None of the Missouri statutes read requires a buyer or seller to hire a real estate attorney. A title company usually runs the closing under RSMo 381.022, and only a lawyer may give legal advice or draft custom documents (RSMo 484.010).
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What must a home seller disclose in Missouri?
No Missouri statute reviewed requires a seller to deliver a general property-condition form. Specific duties apply to methamphetamine production (RSMo 442.606) and landfills on the property (RSMo 260.213), and concealing a material fact can still create liability.
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How does foreclosure work in Missouri?
Missouri lenders usually foreclose out of court under a deed of trust's power of sale, with at least 20 days' notice of the sale and a trustee's mailed notice at least 20 days ahead. A one-year redemption right exists only in certain cases.
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What first-time home buyer programs does Missouri offer?
In Missouri, the Missouri Housing Development Commission (MHDC) runs First Place and Next Step, which pair a fixed-rate mortgage with a second loan equal to 4% of the mortgage for down payment and closing costs, forgiven after 10 years. In St.
Missouri guides
- Closing costs in Missouri: what buyers and sellers pay
- Real estate transfer tax in Missouri: none, and why
- Property tax in Missouri: rates, assessment and tax credits
- What must a home seller disclose in Missouri?
- Do you need a real estate attorney to close in Missouri?
- How does foreclosure work in Missouri, and how long does it take?
- Home prices in Missouri and St. Louis: median value and trend
- First-time home buyer programs in Missouri and St. Louis
- How to verify a real estate license in Missouri