The tax is called documentary stamp tax and is an excise tax on the deed or. By custom, the seller normally pays, but ultimate responsibility is negotiable.. Consideration is the amount being paid for the property and includes. Defaulted mortgage: A deed in lieu of foreclosure is taxed based upon the.
The Home Equity Theft Reporter: Doc Stamp Calculation On Florida Short Sales To Be Based On Price Paid By Buyer, Not Seller’s Higher Mortgage Balance As a member, you get immediate access to:. The largest (and best) collection of online learning resources-guaranteed.
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The Home Equity Theft Reporter: Doc Stamp Calculation On Florida Short Sales To Be Based On Price Paid By Buyer, Not Seller’s Higher Mortgage Balance Of course a given average tax rate imposed as a fixed-revenue tax yields a higher tax take (because of the higher sales) than a specific tax imposed at the same rate. However, unless the taxes.
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Saddled with two mortgages on a home, said home being worth less than the amounts owed on the indebtedness it secured, homeowner David Young found it necessary to unload the home via a short sale. At the time of the sale, SouthTrust Bank held a first mortgage on the property, and AmSouth Bank held a second mortgage on the property.
In most areas, the recovering market has created a great time to buy.. Beyond the monthly payments, think about how long you plan to stay in your new home.. don’t let problems from the past housing market scare you away from buying a home.
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loan which the applicant typically has no intention of paying.. Fraud occurs in a short sale when a borrower purposely withholds mortgage payments, Obtain attestation from seller and buyer that there are no undisclosed terms. home, one for the purchase price and another for the balance of the appraisal value.
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