Size Of My Home

babbles

LoanSafe Member
Feb 11, 2009
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I am in the process of contacting the county tax office where my rental home is located in Georgia but it has 5 bdrms and 3 full baths. Each bedroom has a door ,window, and a closet and is a split level style home. The county tax office is counting it somehow as a 4 bedroom but I'm not sure why? Of course it is making a great difference on the value of the home now that I want to sell it. I am in the process of clearing out my tenant and turning it over for sale. Any thoughts?? Thanks!
 

babbles

LoanSafe Member
Feb 11, 2009
97
3
8
I am in the process of contacting the county tax office where my rental home is located in Georgia but it has 5 bdrms and 3 full baths. Each bedroom has a door ,window, and a closet and is a split level style home. The county tax office is counting it somehow as a 4 bedroom but I'm not sure why? Of course it is making a great difference on the value of the home now that I want to sell it. I am in the process of clearing out my tenant and turning it over for sale. Any thoughts?? Thanks!
And it has central a/c. in the 5th bedroom.
 

bkakca

LoanSafe Member
Jul 5, 2013
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And it has central a/c. in the 5th bedroom.
Babbles, are you listing the sale of your home with a Realtor? He/she should be able to make comments in the MLS listing stating that the home is a 5 bedroom home, and is listed incorrectly in the County Assessor's records. This happens all the time here in AZ. The tax records often have errors. The appraiser for your Buyer, when the time comes, will clearly list the home as having 5 bedrooms upon inspection, if indeed they all have closets, windows & doors. Hope this helps.
 

babbles

LoanSafe Member
Feb 11, 2009
97
3
8
Thanks Sam. I actually called the tax assessors office and they had no problem straightening it out. And also like someone mentioned, the appraiser did note it to be a 5 bedroom as well, when he pulled up to the home he had all the stats for the home.

By the way, just closed on that home a few weeks ago. Back in 2009 or so it was about 60k or so underwater and closed with about 12k in equity. I guess the housing market has turned a bit?
 

babbles

LoanSafe Member
Feb 11, 2009
97
3
8
I have another home on the other side of town in a very good location. That one was about 116k unofficially under water during the same time frame. As much as I wanted to sell it once my tenant's lease ran out in May, I'm still about 10k short, the monies I would need to pay the realtor's commission, so I have decided to rent for at least one more year. My balance would be right over 10k less and maybe the home values may increase a little more. Comps are coming in at about 199k for my size home and my balance will be 209k come May. I had comps done by a keller williams realtor last week and based on what she showed me, I'm afraid I wouldn't have the necessary equity yet. For now I will keep renting as I have since 2009. The goal is; to get out of the landlord business! :) Been doing it now for 12 years. Does that make sense?
 
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Moe Bedard

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Makes perfect sense to me. The landlord business is over rated, taxing and many times not worth the stress.

Good luck with your plan and I hope everything works our for you!