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For all contracts fully executed on or after July 10, 2025, where the home has a sales price over $1 million, the 1% fee paid by the home buyer is eliminated. Instead, a supplemental fee is imposed on the seller, calculated as a tiered percentage based upon the sales price.
For all contracts fully executed prior to July 10, 2025, where the deed is recorded on or before November 15, 2025, any supplemental fees paid in excess of 1% will be refunded to the seller.
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