Posted by Brian on January 13, 2005 at 24:22:45:
The “Assessed value” as I feel you are discribing is the value that the state has assessed the house for tax purposes. This “assessed value” could be many years if not decades old. As-is the case in California, taxes are paid on the “assessed value” of the house at the time of sale and does not change until the property is refinanced or sold again.
Confused about Estate - Posted by Cofused
Posted by Cofused on December 07, 2004 at 22:00:35:
I have the opportunity to purchase an Estate house. The Estate valued the property at 50K. The PR is asking for 150K plus for the property. How can they ask for more than what they asessed the property for in the Estate. The asessed price that is at the court house records is this not based on an appraisal of the property? Any feedback on this one would be greatly appreciated.
Re: Confused about Estate - Posted by John Merchant
Posted by John Merchant on December 09, 2004 at 18:55:00:
“How can an owner ask more than assessed value?”
Is this a serious question?
Why would any executor or administrator be more restricted than anybody else in trying to get top dollar for a property?
“Assessed value” is rarely, at least in my experience or knowledge, close at all to a property’s real market value.