Home › Forums › Closed Forums › Properties or Areas › Things that make you go hmmm…
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Coronita.
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February 18, 2010 at 1:19 PM #515413February 18, 2010 at 1:27 PM #514522
UCGal
Participant[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.
But folks can draw their own conclusions.
February 18, 2010 at 1:27 PM #514667Participant[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.
But folks can draw their own conclusions.
February 18, 2010 at 1:27 PM #515085Participant[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.
But folks can draw their own conclusions.
February 18, 2010 at 1:27 PM #515174Participant[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.
But folks can draw their own conclusions.
February 18, 2010 at 1:27 PM #515418Participant[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.
But folks can draw their own conclusions.
February 18, 2010 at 1:49 PM #514537briansd1
GuestIn early America, if you lived in a small village in Pennsylvania, Massachusetts, or Virginia you knew exactly who owned what piece of real estate. Only landowners were allowed to vote.
The parcels were delimited by stones, trees, fences, etc…
If people don’t want others to know, they have option of not recording.
——-
If you have time to pull to the actual recorded documents and read them, you can obtain a lot more information about the nature of the transaction.
Public records are public for a reason. To protect the public and to protect the owners as well.
For example if you couldn’t (or wouldn’t) record the purchase of your property (and inform the public of that) who’s to say that someone else didn’t buy that same property before you did and thus has superior claims to the property.
February 18, 2010 at 1:49 PM #514682GuestIn early America, if you lived in a small village in Pennsylvania, Massachusetts, or Virginia you knew exactly who owned what piece of real estate. Only landowners were allowed to vote.
The parcels were delimited by stones, trees, fences, etc…
If people don’t want others to know, they have option of not recording.
——-
If you have time to pull to the actual recorded documents and read them, you can obtain a lot more information about the nature of the transaction.
Public records are public for a reason. To protect the public and to protect the owners as well.
For example if you couldn’t (or wouldn’t) record the purchase of your property (and inform the public of that) who’s to say that someone else didn’t buy that same property before you did and thus has superior claims to the property.
February 18, 2010 at 1:49 PM #515100GuestIn early America, if you lived in a small village in Pennsylvania, Massachusetts, or Virginia you knew exactly who owned what piece of real estate. Only landowners were allowed to vote.
The parcels were delimited by stones, trees, fences, etc…
If people don’t want others to know, they have option of not recording.
——-
If you have time to pull to the actual recorded documents and read them, you can obtain a lot more information about the nature of the transaction.
Public records are public for a reason. To protect the public and to protect the owners as well.
For example if you couldn’t (or wouldn’t) record the purchase of your property (and inform the public of that) who’s to say that someone else didn’t buy that same property before you did and thus has superior claims to the property.
February 18, 2010 at 1:49 PM #515190GuestIn early America, if you lived in a small village in Pennsylvania, Massachusetts, or Virginia you knew exactly who owned what piece of real estate. Only landowners were allowed to vote.
The parcels were delimited by stones, trees, fences, etc…
If people don’t want others to know, they have option of not recording.
——-
If you have time to pull to the actual recorded documents and read them, you can obtain a lot more information about the nature of the transaction.
Public records are public for a reason. To protect the public and to protect the owners as well.
For example if you couldn’t (or wouldn’t) record the purchase of your property (and inform the public of that) who’s to say that someone else didn’t buy that same property before you did and thus has superior claims to the property.
February 18, 2010 at 1:49 PM #515432GuestIn early America, if you lived in a small village in Pennsylvania, Massachusetts, or Virginia you knew exactly who owned what piece of real estate. Only landowners were allowed to vote.
The parcels were delimited by stones, trees, fences, etc…
If people don’t want others to know, they have option of not recording.
——-
If you have time to pull to the actual recorded documents and read them, you can obtain a lot more information about the nature of the transaction.
Public records are public for a reason. To protect the public and to protect the owners as well.
For example if you couldn’t (or wouldn’t) record the purchase of your property (and inform the public of that) who’s to say that someone else didn’t buy that same property before you did and thus has superior claims to the property.
February 18, 2010 at 2:10 PM #514547Guest[quote=UCGal]
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.
[/quote]We’ll see soon enough what that property is assessed at when the next property tax bills come out.
Someone who is interested in that neighborhood should keep an eye on it.
February 18, 2010 at 2:10 PM #514692Guest[quote=UCGal]
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.
[/quote]We’ll see soon enough what that property is assessed at when the next property tax bills come out.
Someone who is interested in that neighborhood should keep an eye on it.
February 18, 2010 at 2:10 PM #515110Guest[quote=UCGal]
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.
[/quote]We’ll see soon enough what that property is assessed at when the next property tax bills come out.
Someone who is interested in that neighborhood should keep an eye on it.
February 18, 2010 at 2:10 PM #515200Guest[quote=UCGal]
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.
[/quote]We’ll see soon enough what that property is assessed at when the next property tax bills come out.
Someone who is interested in that neighborhood should keep an eye on it.
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