56. Ten years ago a vacant lot in a subdivision was purchase…
56. Ten years ago a vacant lot in a subdivision was purchased for $30,500. The owner hired a general contractor to build a home on the lot. The contractor charged $375,000. The homeowner is planning to refinance the mortgage. The bank recently appraised the home at $410,000. What is the value of the property?
Read Details94. A homesteaded property is located in Orlando, Florida, i…
94. A homesteaded property is located in Orlando, Florida, in Orange County. The city tax rate is 18.1 mills, the county tax is 9.3 mills, and the school district tax rate is 6 mills. The homeowner is blind and has qualified for homestead exemption. The home has been assessed at $195,000. What must the homeowner pay in property taxes?
Read Details98. Closing date is February 12. The buyer is assuming the s…
98. Closing date is February 12. The buyer is assuming the seller’s mortgage loan that has a principal balance of $212,500 at 3 1/2 % interest. The day of closing is charged to the buyer. What is the proration and how is it entered on the closing disclosure?
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