Found out that the house tax will increase once we become the owner - NHP house, should we continue

[martinx]

Originally Posted by Febtober

Not if you're in Nassau. They've have free public workshops that show you how to grieve your taxes, and they've made it ridiculously easy to do online. It takes literally less than 30 minutes.

I would not touch that website with a ten foot pole.

[hotkarl]

Originally Posted by Febtober

Not if you're in Nassau. They've have free public workshops that show you how to grieve your taxes, and they've made it ridiculously easy to do online. It takes literally less than 30 minutes.

Yup. And I lost year after year after year after year...

[hotkarl]

I gave Nassau the best Moderator cut: language removed
I moved to Suffolk.
Guess I'll be finding out how much better or worse it is than Nassau.
Actually, it's already better. My taxes are 1/2 of what they were in Nassau and I have a much better house and almost an acre of land.

[bailey2056]

First check to see if you contract has a mortgage contingency, if it does then you can easily get out of the contract. If the increase in taxes throws off your DTI ratios then you will not qualify. If you are still able to qualify with the higher taxes and you want to walk away have the bank/lender give you a denial letter based on income - you can say that you are quitting your job and they will deny you. Make sure that denial letter states denial based on income.

You have to ask yourself is $250 more a month a deal breaker? Is this your dream house? If it is remember you will be able to file for star once you own the home which should be at least a $1000 off annual taxes. Also you will be using your property taxes as a tax deduction along with the mortgage interest so you can adjust how much you get in your paycheck.

NY is a buyer beware state so the seller is not responsible for disclosing - instead it is up to the buyer to know the facts.

If you do walk away from this house, please make sure to work with real estate professionals for your next house. Use a real estate agent and a mortgage professional - they would have easily caught before you put an offer in.