Home Buying in Pastures>Question Details

B.J. Washing…, Home Buyer in Albany, NY

What is current status of building's mechanicals, roof & physical condition & how can tax bill be lowered?

Asked by B.J. Washington, Albany, NY Mon Jul 9, 2012

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Anna M Brocco’s answer
Since no link is visible, consider working with an agent of your own; if and when you do have an accepted offer, schedule an inspection--that inspection will reveal any possible issues....
0 votes Thank Flag Link Mon Jul 9, 2012
Alexander H. Monticello, Esq.
Principal Broker &
Licensed Attorney
T: 518.227.0718
F: 518.223.8001
0 votes Thank Flag Link Mon Jul 9, 2012
You won't know the current status until you hire a licensed home and inspector. You can get a good idea by just visiting the property, but you'll never know for sure until you get a professional.

In addition, the seller's are required to provide a New York State Property Conditional Disclosure statement which may included additional information about the property. However, sometime seller's do not include all of the necessary information or sometimes they do not provide the disclosure. The disclosure statement is never a substitute for your own professional inspection.

Tax can be lowered in Albany this way. I recently wrote a blog post on it here. Usually all taxing entities have a 30-45 day window when taxes may be challenged. http://www.monticellonys.com/2012/general/albany-property-ta…
0 votes Thank Flag Link Mon Jul 9, 2012
You did not specify a property, but it doesn't matter because the only way to get an accurate assessment of the mechanical, structural, electrical, and plumbing conditions is with a thorough home inspection.

As far as taxes, the only way to lower the property taxes is to lower the assessed value of the taxing authority. To do this, you must protest the value and show up to any scheduled informal or formal hearing with substantiating proof that the assessed value is too high. Typically, comparable properties of a lower market value is a good route, along with photographs if the home is distressed. Sometimes it works and sometimes it doesn't. In my local area, I know an investor that lost at both an informal and formal hearing and had to take legal action to have some of his properties re-assessed. If it gets to that point, it could become costly.

Good Luck!

Darrell D. Drouillard
Home Team of America
16719 Huebner Rd., Bldg 4
San Antonio, Texas 78248
210-881-6760 (Fax)


'Serving all Your Real Estate Needs'
0 votes Thank Flag Link Mon Jul 9, 2012
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