That would be a question for your Loan Officer and your Buyer's Agent. Only they know the details of your transaction.
Rodney Mason, NMLS #151088
Sr Loan Officer
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia with over a decade of lending experience.
Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePathÂ® | HomePathÂ® Renovation | HomeStyleÂ® Renovation | VA | USDA | GA Dream | Jumbo Financing.... more
I suggest that you talk with the Tax Revenue office, but my hunch would be that the taxes would be based on the purchase price. The appraisal that is done for the loan does not overlap to the tax assessors office (to my knowledge). And yes, you do have "instant equity". Congratulations!... more