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una@att.net (Una) writes:
> New Mexico is a "non-disclosure" state, meaning that the selling price
> of real estate isn't public information. This makes buying without
> an agent an exercise in aggravation. Appraisals and tax assessments
> are based on last selling price, if known, else comps.
If it makes you feel any better, it's not that much different in a
disclosure state for the purpose of buying, because the recordings of
property transactions lag about 4-5 months behind the sale, and
appraised valuations and assessed "market values" have only some vague
cosmic relation to actual market value.
So for purchasing, yer not really ared with good info in a fast moving
market, but at least there's something the appraisers can hang their
hats on.
> How can appraisals and assessments use comps in a non-disclosure
> state?
Good question to which I am eager now to know the answer.
--
Todd H.
http://www.toddh.net/
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Re: Buying a house in a non-disclosure state
