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It's a huge waste of taxpayer money because it just anything the Dems can use to go after their opponents while Biden is sending billions to Ukraine and reports of huge corruption and unaccountable money being transferred to Ukraine government workers.
For those who aren't bankers, you need to know that the bank appraises the property and base their loan decision on that value. No bank will lend money based upon what the owner says is the value.
This is nothing more than going after the big bad orange man.
For those who aren't bankers, you need to know that the bank appraises the property and base their loan decision on that value. No bank will lend money based upon what the owner says is the value.
This is nothing more than going after the big bad orange man.
So no bank ever made mistakes?
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"The man who sleeps on the floor, can never fall out of bed." -Martin Lawrence
The whole thing is nonsense, My house is worth 1.4m, I am assessed on LI at 768k, I fought the township went to the supreme court and got it reduced to 768k from 882k. I got a heloc when rates where cheap based off 1.35m. I'm not committing a crime, I showed evidence of a lower taxable value and the Supreme court mediator agreed. For the Heloc the banks appraiser said it was worth 1.35m, the county says one price, the bank says another. This is normal and know one will know the true price of a property until it sells. My insurance Co says house is worth 1.3m and land 400k because it means they can extract a higher premium. Is my ins co being charged a crime? I assure you I can't sell for 1.7m
Perfect case was this on Long Island. Newsday did a little article. Almost 50 percent reduction in assessment. This is done everyday in real estate.
“ Nassau County will pay more than $632,000 to the owner of an eight-acre Old Brookville estate, and cut the nearly $25 million assessment by $13 million, in one of the largest residential tax settlements in recent memory, legislative and state court records show.
In December, the Nassau County Legislature approved settlement of an "excessive assessment" claim filed in 2020 by a company known as “Old Brookville Residence South Dakota LLC.â€
Ironically few years before this was settled they listed the house for 60 million but it never sold.
The whole thing is nonsense, My house is worth 1.4m, I am assessed on LI at 768k, I fought the township went to the supreme court and got it reduced to 768k from 882k. I got a heloc when rates where cheap based off 1.35m. I'm not committing a crime, I showed evidence of a lower taxable value and the Supreme court mediator agreed. For the Heloc the banks appraiser said it was worth 1.35m, the county says one price, the bank says another. This is normal and know one will know the true price of a property until it sells. My insurance Co says house is worth 1.3m and land 400k because it means they can extract a higher premium. Is my ins co being charged a crime? I assure you I can't sell for 1.7m
How do you know your house is worth 1.4M, because that's what you started your post with.
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"The man who sleeps on the floor, can never fall out of bed." -Martin Lawrence
How do you know your house is worth 1.4M, because that's what you started your post with.
Because a home in my neighborhood that is 700 sq ft smaller that sits on a lot that is 4k sq ft smaller than mine sold for 1.45m last week. They have about 100k of upgrades I don't have nor do I want. A fair assumption is 1.4m as someone may like those upgrades of that home and someone may prefer my larger home and bigger lot. shocking it was a family from queens that bought it.
Because a home in my neighborhood that is 700 sq ft smaller that sits on a lot that is 4k sq ft smaller than mine sold for 1.45m last week. They have about 100k of upgrades I don't have nor do I want. A fair assumption is 1.4m as someone may like those upgrades of that home and someone may prefer my larger home and bigger lot. shocking it was a family from queens that bought it.
You sure those upgrades were only 100K? Prolly 500K is more like it when factoring in materials, contractors, electricians, plumbers, and thats why it sold for what it did
But it appears you live in an area with high property values. That is a good thing, isn't it?
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"The man who sleeps on the floor, can never fall out of bed." -Martin Lawrence
You sure those upgrades were only 100K? Prolly 500K is more like it when factoring in materials, contractors, electricians, plumbers, and thats why it sold for what it did
But it appears you live in an area with high property values. That is a good thing, isn't it?
What if the homeowner did it themselves ? Or were their own general contractor. I know people who renovate their entire house inside out with family and or friends in trades for no money in labor.
My handy man did 2 marble bathrooms complete gut moving 2 walls and gutted my entire upstairs and redid everything plus floors and including 7 custom closets for 15k in labor. My plumbing and electrical were free from friends who are licensed and insured. A company wanted 60k for labor alone (yea disgusting but this is what reputable companies wanted 2 years ago) . Easy 100k in value for my house for 50k all in. And I got heated floors in my bathroom. Best thing I did was steal my handyman from a major company during Covid that was doing work around the corner from me.
Last edited by 94nasupra; 11-09-2023 at 07:24 PM..
What if the homeowner did it themselves ? Or were their own general contractor. I know people who renovate their entire house inside out with family and or friends in trades for no money in labor.
My handy man did 2 marble bathrooms complete gut moving 2 walls and gutted my entire upstairs and redid everything plus floors and including 7 custom closets for 15k in labor. My plumbing and electrical were free from friends who are licensed and insured. A company wanted 60k for labor alone (yea disgusting but this is what reputable companies wanted 2 years ago) . Easy 100k in value for my house for 50k all in. And I got heated floors in my bathroom. Best thing I did was steal my handyman from a major company during Covid that was doing work around the corner from me.
And this is normal?
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"The man who sleeps on the floor, can never fall out of bed." -Martin Lawrence
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