Any ideas on how to determine the value of mortgage(s) that on a particular home? (Dallas: sales)

[ROckjaw]

I know back in the NE states, you can easily go to the local county tax/assessment web site and pull up an inquiry as to what mortgage, lien, etc are filed against a home - looked up the local county clerks web sites for those counties in the metroplex but did not see the $amounts listed.

Any ideas or perspectives are greatly appreciated

Thanks,

RJ

[Big G]

In some cases, you can. It's a multi-step process, and it only works part of the time, but....

Step 1: Use tax records to determine the owner.
Step 2: Do a lookup by name of the owner in the county clerk records.
Step 3: Manually pull up any mortgage documents filed on the house.

The record, as far as the county is concerned, is just the scanned document. They don't keep record of the mortgage amounts outside of that. However, most of the documents do explicitly list the mortgage amount. It just that you have to read each individual scanned document to find the information. That's OK for one specific house, a royal pain if you're trying to analyze a neighborhood.

[loves2read]

I would be very surprised if mortgage amounts are listed in tax offices-
you can find LIENS filed against the property
mortgages and RE sales data are considered private vs public property normally
and buyers/sellers are not required to furnish the accurate sales price of property to the tax authority as they are in some states

[Big G]

Here's a demo of the technique I cited. To avoid invading privacy here, I used the address of a public business I patronize occasionally, rather than a private residence. (The technique will also work for homes, though.)

Start with the address and use the county tax records to determine the owner. In this example, the tax record is located at:

COLLIN CAD Property Details

You then search the county clerk records for this entity (an LLC in this case, but would also work for individuals). The relevant mortgage document is found at:

http://countyclerkrecords.co.collin....9-40415069df5c

There's a lot of blah blah blah in there, but on page 3, you can find that the property had an original mortgage amount of just under $1/2 million

Now, that doesn't tell you if there's a second mortgage as well, and it doesn't tell you what percentage of the purchase price was financed. I'm pretty sure the taxman DOES use this info as a floor for setting assessed values. My neighbor who was 100%+ mortgaged had a substantially higher assessed value than other similar houses that weren't so heavily financed.

[nsumner]

TX is a non disclosure state and sales data is not public but the loan amounts get recorded. You can work with a Realtor who can look up loan amounts for you. It's easy for us to get that info.

You can go through the exercise that BIG G suggested, it works too if you have the time, but it also doesn't show you any HELOC. Also, you'd be surprised how often these deeds don't get recorded properly, especially in Dallas county.

Naima

[loves2read]

are you trying to find out the mortgage amount for home that you want to make offer on--
even if you know it--that might have little bearing on what the owners will sell for

[ETex2]

Originally Posted by nsumner

TX is a non disclosure state and sales data is not public but the loan amounts get recorded. You can work with a Realtor who can look up loan amounts for you. It's easy for us to get that info.

You can go through the exercise that BIG G suggested, it works too if you have the time, but it also doesn't show you any HELOC. Also, you'd be surprised how often these deeds don't get recorded properly, especially in Dallas county.

Naima

Even though Texas is a non-disclosure state, mortages along with their original amount, are recorded along with the mortgagee's name.

[nsumner]

Originally Posted by ETex2

Even though Texas is a non-disclosure state, mortages along with their original amount, are recorded along with the mortgagee's name.

I think I said that previously.

Originally Posted by nsumner

TX is a non disclosure state and sales data is not public but the loan amounts get recorded.

Naima

[Carla Hailey]

Hi there,

For you to know more about that information, i think the best thing to do is go to your local county government and look for someone to give you assistance with your concerns. They're the one who can give you complete details of your concerns.