Property value and taxes are way under what the asking price is

[Besnik Kadriu]

Hello ,

This duplex house I saw it’s on the market for $850.000 in Dorchester Mass , I scrolled down and looked the property tax for 2020. Taxes are 6k and it’s valued at 476.000. I know homes here in Mass are very expensive. Still wondering why is valued so low?

I guess my question is , will the lenders have issues funding this deal. And yes I haven’t asked a lender yet about it. Will go to see it first.

Just wanted to get some feedback on it.

Appreciate it if anyone can comment on it.

Happy investing BP family

[Basit Siddiqi]

assessed valuation(from an assessors office) has no bearing on what the FMV is.

The bank will require an appraisal when you purchase the property. They will loan based on that amount.