Home Buying in 33138>Question Details

Andrea Noemi…, Home Buyer in Miami Shores, FL

I am currently interested on a property that is $189k . It is Bank Owned, and its 2008 taxes are $14,000

Asked by Andrea Noemi Perez, Miami Shores, FL Sat May 23, 2009

I was approved for $200k and I want to do it through FHA. Now, this houses I want in Miami Shores, FL says seller considering rehab bids to make FHA OK!
Do I have a chance with this property if I want to do it through FHA or the taxes are way too high? Any way it can be negotiated so the bank lowers the taxes?

Please help me!

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Mott Marvin Kornicki’s answer
The most that the annual taxes should be is around $4-5K. It is possible that the assessed value is near $700K- in that case the taxes would be a bit more accurate. Is this a short-sale offering? If so, that could be the reason for the "low" asking price- I know that you say it is bank owned- I would do some research- ask your agent to do some investigating.

Mott Marvin Kornicki, Broker/Associate
Real Estate In Miami • http://www.SIBRealty.com

Web Reference: http://www.Miami-Dade.gov
0 votes Thank Flag Link Sat May 23, 2009
$14,000 for a property worth $189,000???? No way! That can't possibly be correct! If you are interested in the house then first I would double check that tax info. Also, the bank has nothing to do with the taxes.
0 votes Thank Flag Link Sat May 23, 2009
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