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Old 04-28-2012, 02:23 PM
 
2 posts, read 1,906 times
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Hi there, I am the Buyer in a short sale situation. The contracts have been signed and now we're waiting for the banks approvals. Do I have standing to file a tax grievance? Note, the March 2011 Tax Assessment Role values the house at $1.3 million and I our contract price is @ $500K. It has been on the market since 2008 and has had successive price reductions. The most recent was a $100K price drop. I don't think the Seller wil help here, so I want to know if I can do something before we close while the contract is still under consideration by the Seller's banks. Thanks!
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Old 04-28-2012, 05:20 PM
 
Location: Long Island
9,925 posts, read 23,084,845 times
Reputation: 5902
Quote:
Originally Posted by Lexington601 View Post
Hi there, I am the Buyer in a short sale situation. The contracts have been signed and now we're waiting for the banks approvals. Do I have standing to file a tax grievance? Note, the March 2011 Tax Assessment Role values the house at $1.3 million and I our contract price is @ $500K. It has been on the market since 2008 and has had successive price reductions. The most recent was a $100K price drop. I don't think the Seller wil help here, so I want to know if I can do something before we close while the contract is still under consideration by the Seller's banks. Thanks!

Only the owner of record can grieve. Once you have your deed in hand, you can proceed! Possible exception around that: if the current owner agrees to grieve through a grievance company and requests transfer of any reduction to the new owner; without the request, the current owner could be held liable for the fee even if they no longer own the property.

As an aside, the maximum reduction is 25% of the assessment for each grievance.
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Old 04-28-2012, 10:30 PM
 
2 posts, read 1,906 times
Reputation: 10
What if the current owner agrees to grieve independently? Can he do so while we're under the short sale contract and waiting bank approval?
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