What is a flip tax and will it affect my sale?

Flip taxes are a fee some out-of-state co-op buildings charge a seller at resale, and no equivalent tax exists anywhere in Georgia real estate, so it will not affect your sale. Georgia sellers do pay the state's real estate transfer tax instead, calculated at $1 for the first $1,000 of consideration, then 10 cents for each additional $100. Closing is handled by a Georgia-licensed attorney rather than a building's internal board. Ask your closing attorney for the exact transfer tax and other costs on your specific sale.