Buying a property that has changed from a SFH to duplex

[Tim Hartman]

I'm looking to purchase a piece of property in Las Vegas that has 2 single family homes on it.  The current owner built the second home in 2009 and has proof of inspection and permits from the city for everything.  The tax assessor still only has record of the original home.  What types of problems could I run in to with this and taxes?  Are there a lot of back taxes owed on this property now?  

[MarZia RiVera]

Depending on the County the assessor may not come out to the property if a sale has not occurred, in this case the owner has built on his property it doesn't necessarily mean that they would come out there, but I am surprised a new residential permit did not trigger them to do so.   You may want to check for allowable use that residential property if it's already zoned for the two home I don't take the word of the owner.   A trip to the city to pull the permits yourself along with blueprints and anything else that is publicly recorded at the city, then a trip to the county will tell you whether or not they're going  be assessing any additional taxes and what the taxes would be after a sale of $X, then a title search to find any liens.  Then take all that to your tax attorney  to evaluate your future tax implications and real estate attorney or broker to write up a purchase agreement that would put any property taxes due prior to sale date to be the seller's responsibility. 

MarZia RiVera, Broker