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Why will a bank only consider deed in lieu if the fair market value of the property is BELOW the value of the debt?
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∙ 9y ago
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∙ 9y ago
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What is amv in appraising?
AMV stands for "Asking Market Value" in appraising. It refers to the price at which a property is currently listed for sale on the market, which may not be the same as its appraised value. It is important to consider both the AMV and the appraised value when determining the worth of a property.
If you purchase a home below market value will your property taxes also become lower than average?
Depends on the assessed value of the house. That is what property taxes are based on. Not what it sold for.
What is net fair market value?
The fair market value is the price of a property that may be sold and bought. It assumes both buyer and seller know everything about the property.
What is the property tax rate in British Columbia?
Property Transfer Tax RatesThe amount of tax due depends on the fair market value of the property that is transferred:If the fair market value is $200,000 or less, the tax is 1% of the fairmarketvalue.If the fair market value is greater than $200,000, the tax is 1% of the fairmarket value up to $200,000, plus 2% on the portion of the fair market value that is greater than $200,000.For example:if fair market value of property is $150,000tax payable is: 1% of $150,000 = $1,500if fair market value of property is $250,000 tax payable is: 1% of $200,000 = $2,000 plus 2% of $50,000 = $1,000 for total tax payable of $3,000
How do I check the value of property?
To check the value of a property, you can follow these steps: 1. Online Property Valuation Websites: There are several websites that offer property valuation services. These websites utilize data such as recent sales prices of similar properties in the area, current market conditions, and other factors to provide an estimate of a property's value. Some popular property valuation websites include Zillow, Trulia, and Home Station. Simply enter the address or location of the property, and you'll be able to view an estimated value. 2. Hire a Professional Appraiser: If you want a more accurate and detailed assessment of the property's value, consider hiring a professional appraiser. Appraisers are trained and licensed individuals who specialize in determining the value of properties. They consider various factors, such as the property's size, condition, location, comparable sales in the area, and current market trends. Appraisers provide a comprehensive report detailing their findings and the estimated value of the property. You can find licensed appraisers through online directories or by asking for referrals from real estate agents or mortgage professionals. 3. Consult with Real Estate Agents: Real estate agents have extensive knowledge of the local market and can provide valuable insights into property values. They have access to databases with information on recent sales, comparable properties, and market trends. Reach out to a reputable real estate agent in the area where the property is located, and they can give you an estimate based on their expertise and knowledge of the market. 4. Local Government Assessor's Office: Contacting the local government assessor's office can also provide information on the assessed value of the property for tax purposes. However, it's important to note that the assessed value may not necessarily reflect the current market value of the property, as assessments are often done periodically and can lag behind market fluctuations. Remember that property values can vary based on various factors, such as location, property size, condition, amenities, and current market conditions. Therefore, it's advisable to consider multiple sources and perspectives when determining the value of a property.
Can a property owner not an expert testify as to the value fair market value of her damaged property?
Normally an insurance company accesses your damamge.
A shareholder's basis in property received in a stock redemption is the property's fair market value?
true
Can the executor of a property raise the rent while still in probate?
There is no reason that they can't. They are responsible to maintain the estate. If the rent was below market value, they could actually be held liable for reducing the value of the estate.
What is a full value deed?
The consideration on a full value deed represents the current market value of the property.
What questions should you consider when buying an investment property?
What is the 'true' market value? Why is the seller leaving? Am I close to local amenities? What is my target market? Is there sufficient demand? Does the investment stack financially? What is my return on investment? Who is living next door!!?
Real estate appraisers sre experts at?
Real Estate Appraisers provide real estate appraisals, property valuations or land valuations. This is the practice of developing an opinion of the value of real property, usually its market value.
Can you sell property prior to a bankruptcy?
Yes, for fair market value.
