In Iowa, the seller is responsible for paying the transfer tax at closing. The transfer tax rate is a tiered system, ranging from 0.45% for properties sold for $99,999 or less. For example, if the sale price of your land is $200,000, you would pay a transfer tax of $900.
Remember, the specific closing costs you will incur may vary depending on the complexity of the transaction, the value of the property, and whether you choose to engage the services of a real estate attorney. Consulting with an experienced real estate professional can help you gain a clear understanding of the closing costs you can expect and make informed decisions throughout the FSBO process.