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Acris

Started by bob420
almost 16 years ago
Posts: 581
Member since: Apr 2009
Discussion about
How does Acris work? I went and checked a building history and it looks like any sales from a sponsor were listed at about 7.5% higher than what the person actually paid. I know the people that bought the apts so I know what was actually paid and what is listed in Acris. Not sure if I did it correctly but I searched by block and lot and saw a complete list of all the sales in the last 6 years.
Response by NWT
almost 16 years ago
Posts: 6643
Member since: Sep 2008

Something to do with who pays the taxes. In sponsor sales, the buyer does, and they're considered part of the purchase price, so the city records the total amount. In non-sponsor sales, the seller pays the taxes out of proceeds, so the city records what the buyer actually paid the seller.

I don't know how the math works.

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Response by bob420
almost 16 years ago
Posts: 581
Member since: Apr 2009

I was thinking something like that but the person I talked to that bought from the sponsor said that he didn't pay the taxes in addition to the purchase price.

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Response by jasieg16
almost 16 years ago
Posts: 123
Member since: Oct 2009

some people will tell you whatever they want to make themselves feel better about what they did. maybe they were upset about the tax being that in this market many sponsors were handling all closing costs. If your friend didnt get such a deal they may be telling you they did just to make themselves feel better.

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Response by bob420
almost 16 years ago
Posts: 581
Member since: Apr 2009

I guess but there were 2 apts and I know one buyer really well and the other I met said the same thing. So for comp purposes, is the number in Acris the number to use? I looked and the number reported here on streeteasy is what the buyer told me and not what is in Acris.

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