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Thread: OT: Interesting public information on taxes

  1. #1
    Inactive Member wrxgirl's Avatar
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    Banker told us today that you can go to our county website and look up public information on property and land taxes on any address you want... well we searched by last name and this guy that is selling this particular house owns 2 others, and the total for the 3 easily equals over 1 million... so there is no way this guy is hurting for money.... knowing that info we are going to stop or bids and he can take it or leave it ... lol

    <font color="#33CCCC" size="1">[ September 14, 2006 11:28 PM: Message edited by: djsnjones ]</font>

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    Inactive Member Kenshinchan's Avatar
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    That is very interesting. Do the records tell if he owns the houses or is just paying the mortgage, though? Because I know a lot of people got overextended (buying several houses to rent out or flip for a crazy profit) and have mortgages well over what they're able to afford...

  3. #3
    Inactive Member wrxgirl's Avatar
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    he owns them... the 1 he is selling that he is currently living in that we are interested in, one his ex wife and kids are in, and 1 he just bought to fix up, and why he is selling this place...
    also, he said he has a house in arizona ... lol

  4. #4
    T. Lynn
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    We have that same information available in our county.

    Has he accepted your bid? Normally they have 24 hours to decide.

    <font color="#33CCCC" size="1">[ September 14, 2006 10:16 PM: Message edited by: T. Lynn ]</font>

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    Inactive Member wrxgirl's Avatar
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    we put the next bid in tonight, we will see what happens tomorrow! [img]smile.gif[/img]

  6. #6
    Inactive Member only1genevieve's Avatar
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    You should go for a price that is fair for the value of the home and not base it on the seller's financial status. There are online services that will give you home estimates, you can look up what nearby homes sold for (usually property tax is a solid indication) or talk to an appraiser. You should also look at similar listings of homes in the area. Even if he's a multimillionaire, that doesn't mean he should sell you his house for under-value :-). You also want to make sure you are getting your full value!

    My parents have over one million in equity, between their three properties and my dad's business. However, after medical bills (my dad had cancer), paying employees, paying mortgages, paying for college for four kids, helping my brothers out when they were unemployed, etc. etc. you wouldn't know it! It's a good month if we can cover the office overhead and payroll, let alone make a profit. Having money in property is different than having a lot of cash. Even without a mortgage, money in equity is not available for spending until you liquidate that equity. If he is going through a divorce, he is probably short on spending money and needs the money from the sale of the house. Divorce, from what I understand, is incredibly financially draining.

    One key to negotiation is looking for a win-win situation for both parties. Maybe he'd be willing to give you a good deal if you made concessions in other areas that would benefit him.

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    Inactive Member wrxgirl's Avatar
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    Yeah and thats the problem! The house is absolutely GORGEOUS! The whole interior has basically been redone from top to bottom and he did a GREAT job... its beautiful... but.. the area its in, he is asking about 40k too mcuh... we have to think resale value.. if we were going to resell it down the road, we could have trouble because of the neighborhood issue and how nice the house is compared to the ones around it, etc...

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