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Old 01-10-2010, 12:11 PM
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Quote:
Originally Posted by ajbrown View Post

As an example, lets say my neighbor and I both paid $200,000 and we owe $20,000 on the bond. We both sell at the same time. Both homes go on the market, mine for $200,000 + $20,000 for bond, theirs for $220,000.

My home for the new buyer will be assessed at $200,000 versus the neighbors will be $220,000.
No that is not correct per my recent conversations with the county appraiser. Both homes would be appraised at the same amount. Bond is not included in their appraisal regardless if it is paid off or not.

The question would be how would the financial intuitions look at the selling price with respect to making a loan. Would they look at the $200,000 or the $220,000?