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Jon Stewart is facing online backlash after the comedian opined on air this week that Donald Trump’s civil real estate case for overvaluing his properties was “not victimless” — when it turns out the price of a previous home sale finds Stewart doing the exact same thing, The Post has learned.
I don't get it. It seems he sold his home at the "over-valued" price, so why didn't the buyers real estate agent know it was over-valued? And did he set the asking price, or did his realtor? If you go by the estimates I constantly get telling me the value of my own home, I think it's over-valued, but I had nothing to do with the figures. But if someone wanted to buy it at that price, they'd be welcome to. Am I supposed to say "oh, I don't think it's worth what you want to pay me for it? In the Trump case, he overvalued to get a bigger loan against the property, whereas Stewart was selling his home, it seems. From the linked article:
"In 2014, Stewart sold his 6,280-square-foot Tribeca duplex to financier Parag Pande for $17.5 million. The property’s asking price at that time is not available in listing records. But according to 2013-2014 assessor records obtained by The Post, the property had the estimated market-value at only $1.882 million. The actual assessor valuation was even lower, at $847,174.
It's okay because Stewart is one of the Beautiful people and the laws do not apply to him.
It does sound like he listed the property and it sold for well over the asking price. If there was a loan involved, the bank would send an appraiser to value it and if it was over priced there could be problems. Chances are it was a cash deal.
Besides all the "details" Kathy Hochul told us that the prosecution of Trump and his business dealings was a one time thing........
I don't get it. It seems he sold his home at the "over-valued" price, so why didn't the buyers real estate agent know it was over-valued? And did he set the asking price, or did his realtor? If you go by the estimates I constantly get telling me the value of my own home, I think it's over-valued, but I had nothing to do with the figures. But if someone wanted to buy it at that price, they'd be welcome to. Am I supposed to say "oh, I don't think it's worth what you want to pay me for it? In the Trump case, he overvalued to get a bigger loan against the property, whereas Stewart was selling his home, it seems. From the linked article:
"In 2014, Stewart sold his 6,280-square-foot Tribeca duplex to financier Parag Pande for $17.5 million. The property’s asking price at that time is not available in listing records. But according to 2013-2014 assessor records obtained by The Post, the property had the estimated market-value at only $1.882 million. The actual assessor valuation was even lower, at $847,174.
The bank also has their own appraisal.
When youre buying a home, your lender or bank will order an appraisal after your offer has been accepted and you've signed the purchase agreement. If you're refinancing, the lender typically orders the appraisal after you apply for the new loan. The appraiser assesses the home.
You mean to tell me the bank didn’t assess Trumps property when they gave him a loan?
I don't get it. It seems he sold his home at the "over-valued" price, so why didn't the buyers real estate agent know it was over-valued? And did he set the asking price, or did his realtor? If you go by the estimates I constantly get telling me the value of my own home, I think it's over-valued, but I had nothing to do with the figures. But if someone wanted to buy it at that price, they'd be welcome to. Am I supposed to say "oh, I don't think it's worth what you want to pay me for it? In the Trump case, he overvalued to get a bigger loan against the property, whereas Stewart was selling his home, it seems. From the linked article:
"In 2014, Stewart sold his 6,280-square-foot Tribeca duplex to financier Parag Pande for $17.5 million. The property’s asking price at that time is not available in listing records. But according to 2013-2014 assessor records obtained by The Post, the property had the estimated market-value at only $1.882 million. The actual assessor valuation was even lower, at $847,174.
Stewart did an entire monologue Monday on Trump - where, in part, he said that Trump undervalued his property to pay less in property taxes. Stewart called that being a fraud - and lying.
What Stewart said Trump did is EXACTLY the situation that Stewart was in - underpaid on his property taxes based on what the property was worth.
Clearly this is theft due to his fraudulent misrepresentation of the value of his home, NY should go after him for the full sale price plus interest..... you know, if they want to prove that they apply the law equally.
The assessment of the physical property was only part of the valuation. He also used things that couldn't be independently verified like saying these apartments rent for 10K a month do the property brings in X amount I revenue. The bank would have to depend on evidence within Trumps control and is not going to go.to each unit to has for proof on what they pay.
Of COURSE rent rolls can be independently verified. No need to go door to door.
It's okay because Stewart is one of the Beautiful people and the laws do not apply to him.
It does sound like he listed the property and it sold for well over the asking price. If there was a loan involved, the bank would send an appraiser to value it and if it was over priced there could be problems. Chances are it was a cash deal.
Besides all the "details" Kathy Hochul told us that the prosecution of Trump and his business dealings was a one time thing........
The two situations are not analogous.
You can sell your house for whatever you can get for it. People try to sell their houses for higher than their assessed values all the time.
It's not like this was a thing where Stewart was claiming it was collateral for a loan.
Of COURSE rent rolls can be independently verified. No need to go door to door.
The bank had ZERO problem w/ Trump.
Not only “no problem” — they testified to that + they never lost a penny on any Trump Loan.
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No need to go door to door. 