Posted on: 13th Jan, 2011 02:59 pm
The principal was 150,282.96, the fair market value is
44,600.00.
However, the property sold at a sheriff's sale for
170,664.72 and the redemption period ends on 1/27/11.
Do I pay any taxes?
44,600.00.
However, the property sold at a sheriff's sale for
170,664.72 and the redemption period ends on 1/27/11.
Do I pay any taxes?
What taxes you pay and do not pay depend partially on what state the property is located in and whether or not it was your primary residence.
I am not an accountant and can not answer your question although I understand your question.
But, I have a question:
Why would someone pay $170,664.72 for a property that has a value of $44,600?
No one would pay $125,000 more than something is worth.
Maybe you made a typo or maybe I simply do not understand.
I am not an accountant and can not answer your question although I understand your question.
But, I have a question:
Why would someone pay $170,664.72 for a property that has a value of $44,600?
No one would pay $125,000 more than something is worth.
Maybe you made a typo or maybe I simply do not understand.