If you are looking to buy, sell, or refinance a home, the transaction will almost certainly involve a home appraisal (unless an all-cash buyer is involved). A home appraisal is an unbiased opinion of the value of the home provided by a professional who is licensed or certified and who knows the local area. Federal regulations mandate that the appraiser must be impartial and should have no stake in the sales transaction of the property.
A home appraisal is usually ordered by the lender and paid for by the buyer (or refinancer) with a typical cost running between $300 and $450. The purpose is to ensure that the mortgage amount does not exceed the value of the property so that, should the lender have to…
Veteran property owners know the sense of foreboding when that nondescript envelope arrives announcing the year’s property tax assessment, but if you’re new to ownership, you may not understand how taxes on your property are calculated.
In Mexico, property tax bills don’t come in the mail. Each property owner is expected to pay these taxes yearly. The county issues decreasing discounts in the first months of each calendar year so there is a strong incentive to pay in January as the discount can be as high as 20% and then decrease rapidly in February.
Property, or real estate, taxes are calculated by your county or local government and are an essential source of income to pay for things such…
