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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.
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.
Participant[quote=Arraya]http://www.impossiblehamster.org/[/quote]
Brilliant. So obvious but no one thinks that way.Participant[quote=Arraya]http://www.impossiblehamster.org/[/quote]
Brilliant. So obvious but no one thinks that way.Participant[quote=Arraya]http://www.impossiblehamster.org/[/quote]
Brilliant. So obvious but no one thinks that way.Participant[quote=Arraya]http://www.impossiblehamster.org/[/quote]
Brilliant. So obvious but no one thinks that way.Participant[quote=Arraya]http://www.impossiblehamster.org/[/quote]
Brilliant. So obvious but no one thinks that way.ParticipantWow….
doing a little public record database diving the transaction on 1/29 looks kind of weird. Or maybe I’m reading things wrong.
I looked up who paid the property taxes by plugging in the APN to the county tax records..
Then took that name – and plugged it into a grantee/grantor search with the county recorders database.It looks like the buyer was able to get a loan from the seller. The deed names and the trust deed names are the same.
But then I found the original listing… I don’t think that the price is the TOTAL price – just the down payment.
http://www.sdlookup.com/MLS-090044709-1051_Myrtle_Way_San_Diego_CA_92103
From the first line of the description…
Owc first td w/20% down!And the asking price was $2.49M.
ParticipantWow….
doing a little public record database diving the transaction on 1/29 looks kind of weird. Or maybe I’m reading things wrong.
I looked up who paid the property taxes by plugging in the APN to the county tax records..
Then took that name – and plugged it into a grantee/grantor search with the county recorders database.It looks like the buyer was able to get a loan from the seller. The deed names and the trust deed names are the same.
But then I found the original listing… I don’t think that the price is the TOTAL price – just the down payment.
http://www.sdlookup.com/MLS-090044709-1051_Myrtle_Way_San_Diego_CA_92103
From the first line of the description…
Owc first td w/20% down!And the asking price was $2.49M.
ParticipantWow….
doing a little public record database diving the transaction on 1/29 looks kind of weird. Or maybe I’m reading things wrong.
I looked up who paid the property taxes by plugging in the APN to the county tax records..
Then took that name – and plugged it into a grantee/grantor search with the county recorders database.It looks like the buyer was able to get a loan from the seller. The deed names and the trust deed names are the same.
But then I found the original listing… I don’t think that the price is the TOTAL price – just the down payment.
http://www.sdlookup.com/MLS-090044709-1051_Myrtle_Way_San_Diego_CA_92103
From the first line of the description…
Owc first td w/20% down!And the asking price was $2.49M.
ParticipantWow….
doing a little public record database diving the transaction on 1/29 looks kind of weird. Or maybe I’m reading things wrong.
I looked up who paid the property taxes by plugging in the APN to the county tax records..
Then took that name – and plugged it into a grantee/grantor search with the county recorders database.It looks like the buyer was able to get a loan from the seller. The deed names and the trust deed names are the same.
But then I found the original listing… I don’t think that the price is the TOTAL price – just the down payment.
http://www.sdlookup.com/MLS-090044709-1051_Myrtle_Way_San_Diego_CA_92103
From the first line of the description…
Owc first td w/20% down!And the asking price was $2.49M.
ParticipantWow….
doing a little public record database diving the transaction on 1/29 looks kind of weird. Or maybe I’m reading things wrong.
I looked up who paid the property taxes by plugging in the APN to the county tax records..
Then took that name – and plugged it into a grantee/grantor search with the county recorders database.It looks like the buyer was able to get a loan from the seller. The deed names and the trust deed names are the same.
But then I found the original listing… I don’t think that the price is the TOTAL price – just the down payment.
http://www.sdlookup.com/MLS-090044709-1051_Myrtle_Way_San_Diego_CA_92103
From the first line of the description…
Owc first td w/20% down!And the asking price was $2.49M.
Participant[quote=scaredycat]here’s a price history on a place near where we rent, but not like our rental, but still…
Date Event Price Appreciation Source
Feb 07, 2010 Listed $299,900 —
Feb 07, 2010 Listed $299,900 —
Jan 03, 1992 Sold (Public Records) $246,000 8.1%/yr Public Records
Apr 01, 1989 Sold (Public Records) $198,500 — Public Recordsif this were me 20 years down the line, i’d be, well, a little irritated if i wer eheavily leveraged. look at this…jeepers. held the place for almost 20 years, and after the realtor’s cut, and repairs, it’s a loss. yeah you raised a family, happy memories, etc etc…but you’d think you could break even in 20 years! by it 2 y 10 m earlier, and at least you walk away witha bit. maybe. and this assumes the selelr’s gonna gt 299 for the listing, which i doubt.[/quote]
Ah – this goes back to my premise I keep stating… Are you buying a place as an investment – to make your money grow? Or are you buying a place to live in, for shelter.
If you rented for 20 years, you wouldn’t make a profit, either.
I’m not suggesting you buy, or not… I’m just not a big fan of buying houses with the idea of selling for profit… too much downside risk in that proposition… If you have a budget for shelter – and buying fits that budget and gets you a decent home… go for it.
Participant[quote=scaredycat]here’s a price history on a place near where we rent, but not like our rental, but still…
Date Event Price Appreciation Source
Feb 07, 2010 Listed $299,900 —
Feb 07, 2010 Listed $299,900 —
Jan 03, 1992 Sold (Public Records) $246,000 8.1%/yr Public Records
Apr 01, 1989 Sold (Public Records) $198,500 — Public Recordsif this were me 20 years down the line, i’d be, well, a little irritated if i wer eheavily leveraged. look at this…jeepers. held the place for almost 20 years, and after the realtor’s cut, and repairs, it’s a loss. yeah you raised a family, happy memories, etc etc…but you’d think you could break even in 20 years! by it 2 y 10 m earlier, and at least you walk away witha bit. maybe. and this assumes the selelr’s gonna gt 299 for the listing, which i doubt.[/quote]
Ah – this goes back to my premise I keep stating… Are you buying a place as an investment – to make your money grow? Or are you buying a place to live in, for shelter.
If you rented for 20 years, you wouldn’t make a profit, either.
I’m not suggesting you buy, or not… I’m just not a big fan of buying houses with the idea of selling for profit… too much downside risk in that proposition… If you have a budget for shelter – and buying fits that budget and gets you a decent home… go for it.
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