[quote=jpinpb]UCGal, are you saying then that there’s some private note to the seller for more money? You know, maybe like indicate the sales price is low and pay lower property taxes, but off the record, owe more money?[/quote]
I’m not saying anything… just stating what is in the public domain.
The listing said the owner would carry (OWC) with 20% down. Owc first td w/20% down!
The list price was $2.49M
The published sales price was 400.5k.
The grant deed search shows a trust deed (loan) between the seller and the buyer.
No other trust deeds show – so it appears this is the only mortgage.
One can draw their own conclusion… but that is the record as visible from a public database searches and internet MLS listings.
I have my assumption… but that’s all it is. I assume it sold for just over 2 Million – with the 400.5K being the 20%.
I disagree that it’s ok to keep things off the books – taxes are involved. Property taxes for sure. Although the county can assess at the value at the time – not the transaction amount. I don’t remember if the City of San Diego has a transfer tax – I seem to recall they do… if so, that would be based on the REAL sales price, not the reported sales price.
I can’t prove fraud or say they did anything illegal. It just has a smell to it.
