Veronica:

The Eastern Shore has long been plauged by "Sloppy Legal Work" from attorneys who overcharge for work they don't do.

One typo can be carried forward for a century or more down here.

I would have a title report done by a title insurance company.

The other reason the consideration or sales price would be recorded as lower than the actual value is to cheat the tax man.

Recording & transfer fees are based on the "consideration value" or sales price so if they are $170k below the actual transaction value then they probably saved around $10,000 in closing costs.

It's the Eastern Shore way of doing business

Properties at times do sale for less than tax rolls, if all is true home would have equity ! You make additional money on property. Have your realtor detail all particulars.

Yes, you're right - I like the weather much better here.
Novosibirst - that's how I'd spell it ))))
Take care!

How interesting! I've never been there! I have a friend from ...let's see, I'm going to guess at the spelling...Novasibiersck? That's phonetically spelled! it's part of Siberia. I bet you like the weather better in MD! Take Care, very nice chatting with you.

No, I'm in Salisbury, MD and we have the beach down here too )))
I "escaped" ))) from far far away 4 years ago ))) - I'm originally from Belarus (it's close to Russia).

You're very welcome! Are you in Salisbury, MA? I moved out here to Laguna from Atkinson, NH...not very far from Salisbury...used to escape to the beach there every once in a while!

Thank you, Cynthia so very much ))))))
And Happy New Year to you too!

It's probably the amount the bank has into the property. Usually you will see a recent price on a bank owned property (REO) as a result of the foreclosure. Check to see who the 'owner of record' is in the county records...most likely it is the bank. I wouldn't worry, you are getting the property for less $. Check with the agent you're working with to be sure. Congratulations on your new home and Happy New Year :)