The home last sold in 2012 for $14,000,000. There is a significance difference in square footage between the information in the MLS and the tax records. Without knowing the size of the home it is difficult to answer your question.
Good luck,... more
California the property tax is usually 1%. Call the county recorders office and get the exact number or the lender will try to collect 1.25%. It could be the taxes are higher too, then the lender will not be collecting enough and it is actually worse. Because a few years later you end up with a big shortage.
I call the county and get the correct tax rate for all my real estate and mortgage customers so the do not pay too much nor too little.
If you are going to buy a house, I would love to compete for your mortgage.My rates are among the lowest around most of the time.
The estimated value on these sites are based upon transferred titles on public records.
If there is a property in your comparable area that has recently transferred as a result of a foreclosure or a short sale (lower value), then these sites are going to put those values into the calculation for a straight average price.
An appraiser and a professional real estate agent are going to take those properties and put them 'aside' from the valuation process.... more
Ah ha! There's more to the story. I agree with Cindy. Yes, you could owe the Realtor a commission. Sounds like he wants it, and it sounds like he has a very good case for procuring cause. Especially now that you're posting details on a public website, acknowledging that you DID go around him! If you really want the house, you might talk to the seller and see if you and seller can both come up with $$ to pay his commission. Or terminate the contract and move on.
This is a great example of why buyers and sellers really need to be fully informed about ALL ramifications when entering into a legally binding contract.
Sorry to hijack this thread but we have a similar situation --
We saw a house in Open House and asked our Buyer Agent (no contract only representation) to write an offer. Offer was not accepted. We made offer for another house (again we saw in OH). This was a Owner Sale and Owner offered 1% commission. Our Agent insisted for 2% and the deal fell off ( we learnt about all these from the Owner after the deal fell off).
This made us upset. I think she should have told us that seller is offering 1% and she would not work for that. We told her we will not be buying anything.
Few days later, we went back to the first house directly through the Sellers Agent, negotiated further and offer is accepted. The Selling Agent has now added the following in the P&S -- "Buyer represents and warrants there are no other broker with whom Buyer has dealt in connection with purchase of the premises ". I am suspecting this will be a lie and our earlier Agent might come after us for commission . Please advise
Remember, our agent did not show us any of the property , just wrote offer.... more
Yes. Please visit my website at www.lajollaluxuryhomefinder.com and leave me your info in the Contact Form and I will send you all pictures of the property, all of the details you need about this community, HOA information, and if you would like we can schedule a time to visit this property and others in the area you might be interested in, at your convenience. Welcome to La Jolla!
Berkshire Hathaway HomeServices
California Properties... more
It sounds like the due diligence was not done upfront to determine the actual bank payoff and/or the seller was not completely forthright with the listing agent. As mentioned in comments before, the bank ultimately has the final say in what they will accept. My experience has been a skilled negotiator - like myself - can often get the bank to reason if what they are willing to accept cannot be justified - i.e. major damage, incorrect values given, etc.... more
A lender would estimate your taxes in 92037 as 1.25% of the purchase price. It depends on what type of loan you are getting, but many will require the set up of an escrow account with the lender where you are paying your property tax monthly as part of your mortgage payment. So $8,125 monthly is about $677/mo towards taxes... more
I know this question is dated, but for a reference to other buyers/sellers of short sales I thought I would update this.
Today banks are moving a lot faster on short sales than they had just a few years ago. One reason is the additional government oversight. The other is banks have realized waiting and stalling actually is costing them money.
Most banks are responding to short sale offers within 15 - 20 days (in my experience). Some may still take longer if additional negotiations are required - such as past due HOA fees.
It makes me sad that Realtors are out there doing this to people. You do not have to stay in your contract because it was not legally accepted. Most agents will not make you sign an agreement when buying. A lot of the franchise and larger companies do require. As an agent I try to let my clients make their choices when they decide and if they were ever not happy I would understand that not everyone will be a perfect match and can move on without hurt feelings. It is business.... more