Property Q&A in Los Angeles>Question Details

Erin, Home Buyer in Los Angeles, CA

What kind of sale was this that the price was so much under the value?

Asked by Erin, Los Angeles, CA Sun Feb 15, 2009

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This question is about this property: http://www.trulia.com/homes/California/Los_Angeles/sold/4048…

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Answers

2
Don't rely on Realty Trac to be your source of comparable sales. They pick up the recorded tax stamps or transfer taxes assessed on various Grant Deeds, Trustees Deeds, etc. and calculate a "value" based upon the fee paid to record the document. It could have been a buyer purchasing a foreclosure through a trustee sale held by a junior lien holder which would not accurately determine the realized sales price for the property. Possibly a seller carried back a loan on the property outside of escrow and it was not reflected in the recorded Grant Deed.

There are many goofy reasons that transfer values are obviously too low to be reliable. It's only through an "arm's length transfer" in whole or computed on the full value of the interest of property conveyed that the correct transfer value can be calculated or assessed. Bottom line, if it looks too good to be true, it probably is.

Have a great Sunday!!

Diane Wheatley, Broker
diane@moveupproperties.com
(909) 981-5589
0 votes Thank Flag Link Sun Feb 15, 2009
Hi Erin,
This house sold in December 2008 for $1,280,000.-

Best,

Tova Sarir
Keller Williams Realty Beverly Hills
310-497-1930
homes@tovasarir.com
Web Reference: http://www.tovasarir.com
0 votes Thank Flag Link Sun Feb 15, 2009
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