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Updated almost 6 years ago on . Most recent reply

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Luis Vaca
  • Specialist
  • Oxnard, CA
32
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92
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Closing on first deal, it disappointed

Luis Vaca
  • Specialist
  • Oxnard, CA
Posted

So I just signed the title documents today for a SFH in Kansas city for 70k. I was caught off guard by two things; Property taxes a lot higher than expected, It went from 950 all the way to 1370$. Due to the recent appraisal. I imagined they might go up a bit but that was higher than I expected. Then there was n HOA for 25$ that was slapped on there, I asked the notary if it was monthly or yearly but she didn't know. I called my agent ( I am in California, her in KC) but she was out of the office for the day (she had told me previously).

I ended up signing anyway as I am just praying it is a yearly amount since it was not disclosed ANYWHERE. It's only 25$ but that's supposed to be MY 25$. The deal is not as great as i'd hoped as my CoC is 9% with about 150$ monthly. Lesson learned here is do my due diligence on taxes more in determining what they will be. As far as the HOA my agent will have some explaining to do.

Most Popular Reply

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1,384
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3,263
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Frank Wong
  • Real Estate Broker
  • Bay Area
3,263
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1,384
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Frank Wong
  • Real Estate Broker
  • Bay Area
Replied

It's not that bad and seriously man $25 a month you stressing about? The HOA should have been known up front so not sure what that is about. Congrats on your first deal though and like Brian said to take it as a learning experience.

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