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July 13, 2009
Verifying Purchase Expenses
Does anyone have methods for verifying the expenses? I went to an OH this weekend and was given a list of expenses, however, the first thing i checked was the re taxes and they are almost double then what was stated on the flyer. I'm now highly skeptical about what is listed for heat, hot water, and insurance. Does anyone know if I can get bills to verify? Is this an accepted method for verifying the expenses of a mf house?
Comments
Hey there - sorry that I don't have info for you - but where/how did you check the total tax cost on the home? FYI: I just posted last night down a question about estimating utility costs.
Thanks!
Posted by: bklyn11238 at July 13, 2009 11:33 AM
why don't you just ask the broker for copies of the bills?
Posted by: jnjnjn2 at July 13, 2009 2:31 PM
I think that the original poster probably has the answer. If the agent underestimated the taxes so grandly, there's probably a similar process going on with the utilities. You could ask the agent for the bills, but I doubt they are obligated to provide them.
Posted by: Minmin at July 13, 2009 2:39 PM
It's a simple task to check out the taxes on any property in NYC. Just go to the link below, select "Find Property Tax Payment History" and type in the address of the property in question:
http://nycserv.nyc.gov/NYCServWeb/NYCSERVMain
Posted by: Park Sloper at July 13, 2009 2:44 PM
not obligated is true, but its something most buyers would request as part of their due diligence, so its not an out of the ordinary request
Posted by: jnjnjn2 at July 13, 2009 4:05 PM
Are you sure you have the correct tax? The entries on Property Shark, for example, are confusing. There's "Actual Land," some other kind of land tax, and actual something else, etc.
Posted by: mopar at July 18, 2009 12:05 AM
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