Property tax – what am I missing? [Tampa, FL]

I'm under contract to buy a house and I'm wondering about the property tax situation.

What is with the gap between the price the house was sold for and the assessed value? Using my friend's house as an example: He purchased it in 2015 for $215k and the assessed value was $139,311 in 2016 and $142,237 in 2017.

To make it clear I'm not worried about the assessed value from a 'oh no I'm over/underpaying for a house based on the counties assessment', just from a perspective of the property taxes on the house I'm buying skyrocketing when I buy it. My buyer's agent says don't worry about it and that at most they will jump by a few hundred bucks, but I always like to ask around.

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Can you sue a mortgage company for killing your deal?

Soooo… Our offer on a 100k house was accepted in the middle of September. Our original closing date was 11/20. The seller required a 203k rehab loan which is what we are in the process of closing. We are on our SEVENTH extension of our contract with the seller due to several issues with the mortgage. As it stands now, if we don't close by next Friday I am very sure the seller will consider the deal to be dead.

I'm going to list sine of the issues we've had with the mortgage:

1- Loan officer "forgot" we were using a cosigner (whom she had personally spoken with several times, ran a credit check and pre qualified him etc) so we had to re-write and resign our contract with the seller a couple of days after it was across.

2- LO orders appraisal a week late couldn't manage to get the report until almost TWO WEEKS later after it had occurred. (Causing first extension)

3- Waits until we're into our extension to ask for divorce documents for cosigner which were supposed to take 6 weeks to arrive from the state, no expediting service and no way to get them from the warehouse they were stored in.

4- we send her many forms of proof he did not owe alimony to remarried ex and child support to kids in their 30s, including two notarized affidavits and documents from state child support agency. Nothing was good enough.

5- She tells us to lie to the FHA and have cosigner sign a letter saying he was never married after we already submitted tons of divorce paperwork. (We did not do this)

6- In the eleventh hour of the 5th extension the necessary document was sent to us so we could proceed without an exception from HUD she tried to get.

7- She threatened our 203k contractor that he would cause us to lose the house if he doesn't send her paperwork within an hour, which it turns out he and I both sent her a month before and she had it in the wrong file.

8- Basically every item was requested at the last possible minute even though we've gotten all paperwork back to her in less than 24 hours.

9- The extension we had to BEG for today was the result of her not communicating for 4 days only to find out on Friday, today that the seller was refusing to sign a form. She effectually worked to get the condition cleared because they are exempt from such forms… But WHY was this done TODAY a month after our original closing date??

There have been many other minor lies and errors throughout this whole process. It is a very real possibility they will come up with some reason to kill the deal this week, and I'm trying to get insight on whether we can get any of our money back, or if we will just be shit out of luck for choosing a crappy mortgage company.

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FTHB – Looking at Acreage with power lines on it

As the title says, we are looking at placing an offer on a 13 acre property that has power lines (easement?) through the mid part of the property.
What should we be concerned about that we may not know about at this point?
Should this detract from the offer price at all?
Are there different laws that apply to properties that have utility poles on them? I plan on having a private shooting range and would like to ensure I still can even with their poles on the property.

This is in Texas Thanks in advance! I have become a junkie for this sub.

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Can you give/surrender your property to the city (Chicago)?

I recently acquired a vacant lot in south Chicago. Someone had quit claimed this property into my name without my consent, I had found out about it because I had gotten an ordinance violation for it in the mail.

The property has about 4500$ in back taxes and 1800$ in city fees. I don't want this property and I was wondering if I can surrender the property to the city of Chicago without it hurting my credit score.

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Are these cracks something to worry about?

Edit: Location – NC, RDU area

Pics below. The house seems to be in good shape but I noticed several hairline, vertical cracks along the brick veneer at the base of the house. The cracks are mostly concentrated the right side of the house. What worries me is just how many there are.

I have a feeling it may have something to do with the giant hole they had to knock out to run duct work to that monster of an hvac unit. I looked inside the crawlspace and didn't see any cracking in the cinder blocks. It seems to be just in the outside brick. I'm hoping someone may have an idea on whether this is just settling, or if it's something more to worry about.

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[FL] If we visit an open house without a buyer’s agent, does the seller’s agent showing the house get exclusivity on that house?

We are beginning our search in Jacksonville, FL. We are currently in a rental with lease expiring in June 1, so we won't be buying soon.

Having just sold our house and not enjoying the experience with our agent at all, we didn't get an agent yet. The agent when we bought our first home was also pretty useless, so we are hesitant to get one now. We thought about doing it ourselves, but we will probably get one later. That's not the topic now (I know it's debated).

We decided to start looking around the new neighborhood by going to open houses.

There seem to be threads that suggest if we are shown a house by a seller's agent, even during an open house, and eventually decide to make an offer, the selling agent that showed the house can then claim they sold us the house, get both sides of the commission and leave us with our (then) agent in a tough spot.

So far we visited only two homes, and when we did we put our name down on a sheet. That was for providing contact information, which we thought was the least we could do (The agents did start to push other homes they have right away using that info too). I share this information because this is how they would know that we visited there previously and they showed the house to us already.

Would simply visiting an open house without representation trigger a complex situation like this? Do we need to avoid visiting open houses or any home showings at all until we get representation or at least decide how we will proceed? Is there anything else we need to avoid when we are going around on our own?

It seems a bit much to me that visiting an open house may trigger a formal selling relationship, but it's always good to check.

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FSBO Asking $190k, is moderately distressed, seller attempted to refi while owing over $160 was denied, property probably worth $140 as is, ie upside down – Is there any potential for a deal as a Cash buyer?? [California]

Again: FSBO Asking $190k, is moderately distressed, seller attempted to refi while owing over $160 was denied, property probably worth $140 as is, ie upside down – Is there any potential for a deal as buyer??

This is a situation that seems like there potential somewhere, but I don't have the experience to see it…

So this is a FSBO, owner is moving out of state in his 5th wheel in a few months. It seems like there is almost zero equity for him in this house: Owes $160k, attempted to refi (cash out maybe?) but he didn't have "any money for fees"? Asking 190k which is very high in this area, $140 MAYBE ($125 is what I'm looking at) and I can see a $160-$175 sale after a little bit of love.

SO: *Needs to move *Doesn't sound like he's counting on cash from the house *Upside down *Needs love

It seems as if there should be something "creative" that I could put together here for an awesome deal on my end here… but I'm not seeing it… There is NO WAY the house will sell for $190k today and unlikely after its rehabbed (Renter trashed it). And the house is pretty upside down especially after being decimated.

Any ideas? The house is probably current on the mortgage but we have not gone into detail. Anything I can do with the lender?

Ideas appreciated!

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(CA) two job opportunities ?

So I just finished my undergraduate career at a target university this week with a degree in Real Estate development/finance. I have two job offers on the table that I have to make a decision on by Monday. Option #1 is financial analyst position at a well known bank with their CRE lending team. They've got a great training program and have a massive deal flow across all asset types. Which I feel will help me truly learn each RE class type. Option #2 is my current internship position which will be turning into a full time offer. I'm an acquisition/development analyst for a investment company that builds, acquires, and manages self storage properties. I definitely like what I'm doing today and I like self storage, however I do feel there in a cap on growth because of how small the company is and I feel it's too early on in my career to specialize in any single asset type. The offers are as follows:

Bank $65,000 base salary 10-15% bonus $5,000 sign on bonus Full benefits

Current Job $70,000 base salary $15% bonus $ Undisclosed Sign on bonus Full benefits

My ultimate goal is to start building up my own portfolio and work on my own acquisitions/developments. I do feel that both help me achieve that goal in different regards but both do have their individual drawbacks. I'm looking at both opportunities from a 5-10 year lens and what each can do for my career opposed to the temporary benefits each has. Any advice would be greatly appreciated.

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