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Old 09-06-2009, 11:30 AM
 
Location: NE Tarrant County, TX
394 posts, read 1,256,962 times
Reputation: 264

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requesting information on our recent home purchase. Among other things, they'd like to know our agreed upon sale price and a copy of our HUD-1. I'm wondering how forthright I should be with them. I think that I paid about $25K more for our home than it's worth. The builder was willing to work with my family and our situation of having (at the time) a home for sale in New Jersey. So, I paid the asking price in exchange for some "situational concessions." Our home appraised for a value a few grand in excess of the price we paid, too. I'm wondering how well complete disclosure to TAD would serve us. In other words, do I have to?

What do y'all think?

-Eric
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Old 09-06-2009, 01:30 PM
 
Location: DFW
40,952 posts, read 49,176,191 times
Reputation: 55008
Do not send them anything !

It is their job to appraise the house and if they appraise it for more then you paid you can protest. If they appraise it lower, good for you & keep your mouth shut.

Do not send anyone anything about your home. It is not required.

Also after Jan 1 file your homestead exemption. Do not pay anyone a fee to do this - it's free & only needs to be done 1 time.

Go to the Tarrant Cty Tax District website.
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Old 09-06-2009, 06:59 PM
 
Location: NE Tarrant County, TX
394 posts, read 1,256,962 times
Reputation: 264
Quote:
Originally Posted by Rakin View Post
Do not send them anything !

It is their job to appraise the house and if they appraise it for more then you paid you can protest. If they appraise it lower, good for you & keep your mouth shut.

Do not send anyone anything about your home. It is not required.

Also after Jan 1 file your homestead exemption. Do not pay anyone a fee to do this - it's free & only needs to be done 1 time.

Go to the Tarrant Cty Tax District website.
Thanks! You won't have to tell me that twice .

-Eric
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Old 09-07-2009, 01:19 PM
 
37,315 posts, read 59,854,747 times
Reputation: 25341
legally they can't compel you to turn over that info--it is considered "priviledged" which is why it is not legally part of your registration of new ownership as it is in other statesbut I think someone gave them the sale price for our house bought in October because our property valuation for the exact sale price--no way we can complain that it was over valued when that is what we paid for it...

it would not surprise me if the sellers were not the ones who did it
our realtor I know said the papers would be filed as as $1 and other considerations

our daughter and son in law had no choice to but file their new house with the purchase price listed--which is the law in FL so anyone can find out what the sales price was
PS--the reason they might be asking is that you live in new, small neighborhood and the comps for houses around you are not really viable for YOUR neighborhood---maybe some of the homes there were in foreclosure also so their prices would indicated an adverse, reduced-market-price which would help you to have lower evaluation from comps---
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