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FormerOwnerParticipant
I’ve had some experience with this in the past. Call the County Assessor’s Office and they should be able to explain it to you. The calculation of the refund may be complicated by the fact that there may have been two changes of ownership within the same fiscal year: 1) the date the bank foreclosed and 2) the date the bank sold the house to you. The supplemental bill or refund will be prorated based on those dates.
FormerOwnerParticipantI’ve had some experience with this in the past. Call the County Assessor’s Office and they should be able to explain it to you. The calculation of the refund may be complicated by the fact that there may have been two changes of ownership within the same fiscal year: 1) the date the bank foreclosed and 2) the date the bank sold the house to you. The supplemental bill or refund will be prorated based on those dates.
FormerOwnerParticipantI’ve had some experience with this in the past. Call the County Assessor’s Office and they should be able to explain it to you. The calculation of the refund may be complicated by the fact that there may have been two changes of ownership within the same fiscal year: 1) the date the bank foreclosed and 2) the date the bank sold the house to you. The supplemental bill or refund will be prorated based on those dates.
FormerOwnerParticipantI’ve had some experience with this in the past. Call the County Assessor’s Office and they should be able to explain it to you. The calculation of the refund may be complicated by the fact that there may have been two changes of ownership within the same fiscal year: 1) the date the bank foreclosed and 2) the date the bank sold the house to you. The supplemental bill or refund will be prorated based on those dates.
FormerOwnerParticipantI’ve had some experience with this in the past. Call the County Assessor’s Office and they should be able to explain it to you. The calculation of the refund may be complicated by the fact that there may have been two changes of ownership within the same fiscal year: 1) the date the bank foreclosed and 2) the date the bank sold the house to you. The supplemental bill or refund will be prorated based on those dates.
FormerOwnerParticipantGood point. I wouldn’t be surprised if a lot of people think like that. In my friends’ case, they have quite a bit of equity in the house and if they sold it today at a realistic market price they would end up with quite a bit of cash. However, they would not get back all the cash they put down on the house and I think they haven’t come to terms with that. They are like the banks – they don’t want to recognize their loss, I think.
FormerOwnerParticipantGood point. I wouldn’t be surprised if a lot of people think like that. In my friends’ case, they have quite a bit of equity in the house and if they sold it today at a realistic market price they would end up with quite a bit of cash. However, they would not get back all the cash they put down on the house and I think they haven’t come to terms with that. They are like the banks – they don’t want to recognize their loss, I think.
FormerOwnerParticipantGood point. I wouldn’t be surprised if a lot of people think like that. In my friends’ case, they have quite a bit of equity in the house and if they sold it today at a realistic market price they would end up with quite a bit of cash. However, they would not get back all the cash they put down on the house and I think they haven’t come to terms with that. They are like the banks – they don’t want to recognize their loss, I think.
FormerOwnerParticipantGood point. I wouldn’t be surprised if a lot of people think like that. In my friends’ case, they have quite a bit of equity in the house and if they sold it today at a realistic market price they would end up with quite a bit of cash. However, they would not get back all the cash they put down on the house and I think they haven’t come to terms with that. They are like the banks – they don’t want to recognize their loss, I think.
FormerOwnerParticipantGood point. I wouldn’t be surprised if a lot of people think like that. In my friends’ case, they have quite a bit of equity in the house and if they sold it today at a realistic market price they would end up with quite a bit of cash. However, they would not get back all the cash they put down on the house and I think they haven’t come to terms with that. They are like the banks – they don’t want to recognize their loss, I think.
FormerOwnerParticipantI sold my house in the spring of 2006 – priced it at the low end of the range of properties listed for sale in that area – and it sold very quickly. All my neighbors thought I sold it too low and were mad at me for ruining the comps. Well, now the values in that neigborhood are 250K below what I sold it for! Actually, a couple of the people that told me I was selling it too cheap actually lost their homes to foreclosure.
More recently, I have friends that have been trying to sell their house this year but have listed it a little high as compared to actual sold comps and at the high end of the range of listings. They actually refused an offer because it was 20K or so below what they *thought* it was worth. Well, they are still trying to sell it!
FormerOwnerParticipantI sold my house in the spring of 2006 – priced it at the low end of the range of properties listed for sale in that area – and it sold very quickly. All my neighbors thought I sold it too low and were mad at me for ruining the comps. Well, now the values in that neigborhood are 250K below what I sold it for! Actually, a couple of the people that told me I was selling it too cheap actually lost their homes to foreclosure.
More recently, I have friends that have been trying to sell their house this year but have listed it a little high as compared to actual sold comps and at the high end of the range of listings. They actually refused an offer because it was 20K or so below what they *thought* it was worth. Well, they are still trying to sell it!
FormerOwnerParticipantI sold my house in the spring of 2006 – priced it at the low end of the range of properties listed for sale in that area – and it sold very quickly. All my neighbors thought I sold it too low and were mad at me for ruining the comps. Well, now the values in that neigborhood are 250K below what I sold it for! Actually, a couple of the people that told me I was selling it too cheap actually lost their homes to foreclosure.
More recently, I have friends that have been trying to sell their house this year but have listed it a little high as compared to actual sold comps and at the high end of the range of listings. They actually refused an offer because it was 20K or so below what they *thought* it was worth. Well, they are still trying to sell it!
FormerOwnerParticipantI sold my house in the spring of 2006 – priced it at the low end of the range of properties listed for sale in that area – and it sold very quickly. All my neighbors thought I sold it too low and were mad at me for ruining the comps. Well, now the values in that neigborhood are 250K below what I sold it for! Actually, a couple of the people that told me I was selling it too cheap actually lost their homes to foreclosure.
More recently, I have friends that have been trying to sell their house this year but have listed it a little high as compared to actual sold comps and at the high end of the range of listings. They actually refused an offer because it was 20K or so below what they *thought* it was worth. Well, they are still trying to sell it!
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