InnoVest Resource Management's Foreclosure Forum

Home Discussion Board "Hands-On" Training Title Holding Trust Speaking Schedule Store Foreclosure Codes 50 State Resource Data Foreclosure Glossary Foreclosure Statistics 60+ Yrs Interest Rates Fillable Forms Archived Articles Dingbat Retirement Plan Links Contact / Map Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Look at the documentary transfer tax amount... Posted by Ward-CA- on July 12, 2003 at 6:09 PM In Reply to: Investigating selling price... posted by 2nd Fred on July 11, 2003 at 3:01 PM : Hi Ward, : Quick question. What's the simplest way to find out what a home sold for on the open market? Is that something that's listed at county records? Title company? MLS? : I was following this house from NOD to NOS to sale and now I would like to find out what the person that bought it at auction sold it for. Just to see if my numbers were correct. : Thanks, : Fred =•=•=•=•=•=•=•=•=•=•= Fred, The simplest way to find out what a particular property sold for is to extrapolate it from the documentary transfer tax declaration on the face of the transferring grant deed. So call a nearby title company. Ask for customer service and ask them to fax you the most current deed recorded on the property. With the deed in hand look at the transfer tax declaration in the upper right hand quadrant of the document. There you will find a dollar amount listed. Divide that sum by the tax rate in your county. In most of Southern California divide it by 1.10 and then multiply your answer by 1,000 and that will be the sales price paid (to the nearest $500) for the property. Check directly under the listed transfer tax to see which box is checked. If it’s the top box then your calculations are complete. If it’s the second box then the amount paid only represents the amount of the seller’s equity. You will have to add to it the amount of the pre-existing trust deeds that were assumed or taken “subject to” at the time of the sale. In Los Angeles, and in a lot of Northern California counties, the documentary transfer tax rates have been raised dramatically. So if you’re located in that part of the state just call the county recorder’s office and inquire what the particular tax rate amounts to. I have all the documentary transfer tax rates for CA., so let me know your particular county if you don’t want to call your local county recorder’s office. Hope this helps. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Hi Ward, : : Quick question. What's the simplest way to find out what a home sold for on the open market? Is that something that's listed at county records? Title company? MLS? : : I was following this house from NOD to NOS to sale and now I would like to find out what the person that bought it at auction sold it for. Just to see if my numbers were correct. : : Thanks, : : Fred : =•=•=•=•=•=•=•=•=•=•= : Fred, : The simplest way to find out what a particular property sold for is to extrapolate it from the documentary transfer tax declaration on the face of the transferring grant deed. : So call a nearby title company. Ask for customer service and ask them to fax you the most current deed recorded on the property. : With the deed in hand look at the transfer tax declaration in the upper right hand quadrant of the document. There you will find a dollar amount listed. Divide that sum by the tax rate in your county. In most of Southern California divide it by 1.10 and then multiply your answer by 1,000 and that will be the sales price paid (to the nearest $500) for the property. : Check directly under the listed transfer tax to see which box is checked. If it’s the top box then your calculations are complete. If it’s the second box then the amount paid only represents the amount of the seller’s equity. You will have to add to it the amount of the pre-existing trust deeds that were assumed or taken “subject to” at the time of the sale. : In Los Angeles, and in a lot of Northern California counties, the documentary transfer tax rates have been raised dramatically. So if you’re located in that part of the state just call the county recorder’s office and inquire what the particular tax rate amounts to. : I have all the documentary transfer tax rates for CA., so let me know your particular county if you don’t want to call your local county recorder’s office. : : Hope this helps. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

Information provided by this website is for informational purposes only and is not a substitute for professional advice. Please consult your investment advisor and/or attorney before entering into any transaction.

Copyright © 1997-2003, InnoVest Resource Management
http://www.foreclosureforum.com

InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455