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Originally Posted by Frank Mucus
I can see the neighbors hating if they themselves are trying to sell their home. You don't want to sell a $300k with a $16 home right next to it. Records probably wouldn't show the home's value as $16 though.
that's not the sales price on the home. When you look in the tax records it's probably gonna have the house at the same value when the title was transferred to bank and promissory note from the mortgagor at original sale. That number for tax millage rate purposes is based on the last sales price. $16.00 has nothing to do with the sales price of the home. Just the cost to file the paperwork. In Texas you don't get the title till you make your last mortgage payment. Just a glorified renter until then