real estate question

Discussion in 'Homesteading Questions' started by HarleysMom, Mar 14, 2005.

  1. HarleysMom

    HarleysMom Well-Known Member

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    Two of my neighbors have sold their places in the last couple of months (FSBO)and it is rumored that they got really good prices for their places. I have tried to find out for sure how much their places sold for because I am putting my place up for sale. I went to the courthouse and was told they don't collect that kind of info. The title company (there is only one here) said they couldn't give out that info because of the privacy laws.

    So how do appraisers get the info for comparables and how can I find out that kind of info also? Everyone I have asked around here either doesn't know or won't tell.
    Thanks.
     
  2. moopups

    moopups In Remembrance

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    Most places it is public knowledge, a matter of public record - therefore published in the nearest local news paper, classified section. What state are you in? Of course the courthouse people know, they require document stamps on land transactions. The stamps cost is based on the value of the transaction.
     

  3. MichelleB

    MichelleB Well-Known Member

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    I believe you can go to the tax assessor's office. There are also services online, I believe that will give you comparables for your area. Some you pay for.

    I get junk mail from realtors this time of year who give lists of "comparables"--the data on homes recently sold in the neighborhood. If they can get and distribute this info, I'm sure you can.


     
  4. diane

    diane Well-Known Member

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    tax rolls are public knowledge, but if the properties have moved in the past few months the assessor's office might not have that information yet.
     
  5. Mudwoman

    Mudwoman Well-Known Member

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    Realtors and Appraisers get information through their local Board of Realtors------ that is able to track that information through the paperwork turned in by the Realtors themselves that are members. Nearly all appraisers are members of their local Boards of Realtors just so they have access to sales information. Sometimes, newspapers will publish the loan amounts against new sales, but I haven't seen that practice in a while.

    Have you tried calling these sellers to see if they will share the information?
     
  6. HarleysMom

    HarleysMom Well-Known Member

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    Thanks for the respnses. I am in New Mexico. There isn't a local paper and the one at the county seat doesn't print any of that kind of info. One of the sellers was gone two years before their place sold and the other is probably the least reliable person, as far as telling the truth. I know better than to rely on the gossip circle.
    A friend had told me she got that kind of info in the past at the courthouse, but they said that they don't keep that info since privacy laws were put in place about 3 years ago. It was a hundred mile round trip for nothing. I will check on-line for a site that has that info.
     
  7. MaineFarmMom

    MaineFarmMom Columnist, Feature Writer

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    I worked in the Registry of Deeds for a few years. We sent the tax form to the state, they sent it to the tax assessor, there it became public knowledge.
     
  8. HarleysMom

    HarleysMom Well-Known Member

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    Anyone have any recommendations for an on-line site to get that kind of info. Also, one of the neighbor's places just sold in the last few days, so I am realizing that the info probably wouldn't be available yet. I am in the process of trying to set my price and I have someone that is seriously interested. There seem to be more people buying property here and properties are taking a big jump in price. So I would like to have a price in the ball park. Any suggestions?
     
  9. CraftyDiva

    CraftyDiva Is anybody here?

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  10. Shagbarkmtcatle

    Shagbarkmtcatle Hillybilly cattle slaves

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    I can access Maryland's online. I use it everyday so I can pull permits. I think each state should have a web site for it. Marylands, is something like, www.dat.state.md.us, But I can then...ore they get the info online. Laura Lynn
     
  11. Michael W. Smith

    Michael W. Smith Well-Known Member

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    Here in PA, you can go into the county courthouse and look up on the computer by name who owns what property or even how much of a mortgage they took out on the property. If you know what your parcel # is (it should be on your tax bill when you pay property taxes), you can go into the tax assessor's office and look at a map to see what parcel # your neighbor's was. Find out what book # & page # the deed was recorded on, and walk right into the recording deed office and look up the book. Once on the correct page, it will tell you who your neighbor sold the property to, and also how much they paid for it. This is all public knowledge in PA.

    I can't hardly believe that it isn't public knowledge in New Mexico.

    Try the courthouse again and ask for help. Our courthouse has a friendly, helpful staff.
     
  12. Shagbarkmtcatle

    Shagbarkmtcatle Hillybilly cattle slaves

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  13. SteveD(TX)

    SteveD(TX) Well-Known Member

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    I am a real estate appraiser. I believe that New Mexico, like Texas, is a non-disclosure state. That means that neither the buyer or seller has to disclose the sales price on real estate to anyone. Period. Local MLS realtors generally are required to post the selling price which is available to MLS subscribers. But the property owner signs permission for the realtor to disclose the price. You generally cannot go to any public records source for this information. Either the buyer or seller must give it to you.

    While most residential sales are made by MLS realtors, commercial real estate, like I do, is another matter altogether. Most commercial sales transactions do not go into the MLS system, except in some rural areas. That means that I have to pay an expensive fee to professional researchers to extract this information from either the buyer, seller, or broker. Or do it myself, which is a royal PITA.
     
  14. Cyngbaeld

    Cyngbaeld In Remembrance Supporter

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    Try going to www.realtor.com . Find your area and look for comperable homes for sale. That should give you an idea of what the asking price should be. Realtors usually will encourage sellers to stay pretty close to what other homes comperable to theirs are selling for.
     
  15. HarleysMom

    HarleysMom Well-Known Member

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    I just found out that the second property I was trying to find info about hasn't closed yet. So it is not a done deal anyway. But I think Steve is right about this being a non disclosure state.

    Another question: If I want to buy a house and property from someone and get a mortgage: Would the mortgage company or bank require that I get all the seller to provide all the original building permits, well permit, and septic permit even if he bought the property already developed and hadn't added or changed anything (meaning the current owner was maybe the second or third owner of the develped property)?
     
  16. Bruce in NE

    Bruce in NE Well-Known Member

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    20-20 Hindsight, but in the future, if anyone is in a similiar situation before the place sells, you could just call the realtor involved and play like you're interested in buying and get the price that way.
     
  17. Cabin Fever

    Cabin Fever Life NRA Member since 1976 Supporter

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    Yep.....
     
  18. SteveD(TX)

    SteveD(TX) Well-Known Member

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    I doubt very seriously if the mortgage co. or bank would require any building permits for a house already built. Well permits and septic permits would depend on the laws in your area, but probably not. At least not the original permits when the improvements were made. But they might have to pass some type of inspection and meet the lender's underwriting requirements.
     
  19. HarleysMom

    HarleysMom Well-Known Member

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    Just found out that the assessors office gave my neighbor the information about selling prices that I had asked them for. It had been a hundred mile round trip for me and they said they didn't collect that information. Something smells.
     
  20. Elizabeth

    Elizabeth Well-Known Member Supporter

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    In my area all the realtors offer free market analysis to prospective sellers. When I was considering selling my home last year I called three different ones and asked them to do an analysis on the property. I made it very clear up front that I had not yet decided if I even wanted to sell the place; and that, if I did, I was not sure whether I would even use a realtor. But, all 3 were happy to do it on the chance that if I did list the property I would use them. Maybe you could do the same thing and get some info that way.