|
Author
|
Topic: Mellow roos
|
nineteen90coupe
¯
Member # 8034
|
posted
 
 
I know some of you guys can give me some info on this. Mello roos. Looking at this home that has it. About additional 160.00 a month according to the seller. My Question is do the rates on mello roos go up if the house value rises or Would the mello roos rates be higher for the new home buyer? House is in Antioch. Any input appreciated on this ... Thanks
--------------------
1990 lx coupe
Posts: 200 | From: bay area | Registered: Nov 2007
| :
|
|
1996 GT
I'm Joe Yates
Member # 4992
|
posted
They can go up, the seller will have the information on whether they go up every year or possibly go down etc. You shouldnt be doing the homework on the property, your realtor should be able to get this information for you if you are using one. If you're not, you should get your own agent since as a buyer, you do not pay them a fee for this information. The sellers typically pay their fees for you. So stop the guess work and get your agent on the question and have them answer this for you.
Posts: 9308 | Registered: Oct 2004
| :
|
|
wilit
Mustang Messiah
Member # 3367
|
posted
I don't belive Mello Roos fluxuates. Its more like a bond that has a set cost and term and is not tax deductable. You can actually pay off your MR obligation at any time. You'll find that some houses in the valley don't pay MR because the bond payoff was included in the original sales price of the home.
--------------------
"If a man hasn't found something worth dying for, he isn't fit to live." - Martin Luther King Jr.
Posts: 4793 | From: 37.78514° North 122.40100° West | Registered: Oct 2003
| :
|
|
1996 GT
I'm Joe Yates
Member # 4992
|
posted
quote:
Originally posted by wilit:
I don't belive Mello Roos fluxuates. Its more like a bond that has a set cost and term and is not tax deductable. You can actually pay off your MR obligation at any time. You'll find that some houses in the valley don't pay MR because the bond payoff was included in the original sales price of the home.
They can fluxuate but they usually do in new home developments where the costs are estimated. Still I'd get the lowdown on it upfront instead of having an Oh Shit moment later on.
--------------------
http://i.magaimg.net/img/257w.png
Posts: 9308 | Registered: Oct 2004
| :
|
|
wilit
Mustang Messiah
Member # 3367
|
posted
quote:
Originally posted by 135.0:
quote:
Originally posted by wilit:
I don't belive Mello Roos fluxuates. Its more like a bond that has a set cost and term and is not tax deductable. You can actually pay off your MR obligation at any time. You'll find that some houses in the valley don't pay MR because the bond payoff was included in the original sales price of the home.
They can fluxuate but they usually do in new home developments where the costs are estimated. Still I'd get the lowdown on it upfront instead of having an Oh Shit moment later on.
Defintely whomever is working on the sale of the home and loan docs should give you the lowdown.
[ 2013-12-02, 03:48 PM: Message edited by: wilit ]
--------------------
"If a man hasn't found something worth dying for, he isn't fit to live." - Martin Luther King Jr.
Posts: 4793 | From: 37.78514° North 122.40100° West | Registered: Oct 2003
| :
|
|
nineteen90coupe
¯
Member # 8034
|
posted
Thanks for the info guys. That's exactly what I'm afraid of...that oh shit wtf did I just get into situation. I tried to be open to it but, I can't stand the idea of mello roos. And told her from the beginning I did not want any mello roos or hoa fees. So the night before I tell her to go ahead and put in the offer she goes oh by the way there is mello roos. I said forget it. Realtor got all what are you crazy for not taking this offer and she reiterated that I probably won't find anything else. I Expressed my concerns about the M-R she told me to call the county and figure out what exactly I would have to pay. I was actually going to call to figure it out .but changed my mind and said fuck this. Whole thing didn't feel right to me so I just cut it loose. going to go with someone else from this point on. Thanks again for your input . Much appreciated
--------------------
1990 lx coupe
Posts: 200 | From: bay area | Registered: Nov 2007
| :
|
|
1996 GT
I'm Joe Yates
Member # 4992
|
posted
quote:
Originally posted by nineteen90coupe:
Thanks for the info guys. That's exactly what I'm afraid of...that oh shit wtf did I just get into situation. I tried to be open to it but, I can't stand the idea of mello roos. And told her from the beginning I did not want any mello roos or hoa fees. So the night before I tell her to go ahead and put in the offer she goes oh by the way there is mello roos. I said forget it. Realtor got all what are you crazy for not taking this offer and she reiterated that I probably won't find anything else. I Expressed my concerns about the M-R she told me to call the county and figure out what exactly I would have to pay. I was actually going to call to figure it out .but changed my mind and said fuck this. Whole thing didn't feel right to me so I just cut it loose. going to go with someone else from this point on. Thanks again for your input . Much appreciated
Your agents a douche, you already told them one thing upfront but she shows you homes anyways with your deal breaker issue you had from the beginning. Before you even looked at the house the mello roos thing should have been disclosed upfront not later on. Bad business, they just want a sale and could give a fuck about you.
A lot of areas have tax info available, just do a search on your county's tax assessor website. example for sac county:
http://www.assessor.saccounty.net/MapsPropertyDataAndRecords/Pages/AssessorParcelViewer.aspx
scroll to the bottom and hit accept and it pulls a map of all properties and their tax info. just have to plug in the info on the right first.
[ 2013-12-02, 09:22 PM: Message edited by: 135.0 ]
--------------------
http://i.magaimg.net/img/257w.png
Posts: 9308 | Registered: Oct 2004
| :
|
|
nineteen90coupe
¯
Member # 8034
|
posted
Thanks for the link I'll check it out.
Posts: 200 | From: bay area | Registered: Nov 2007
| :
|
|
Email this post to someone!
Printer friendly view of this Ford topic
