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Reply to "Why does Zillow say “sold” when parents didn’t move?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I doubt it's a reverse mortgage. In order to qualify for those you have to have a minimum of 50% equity built up. They just purchased it in 2019. OP what does Redfin say about the property? I find that Redfin and Zillow transactions don't always match. [/quote] OP here. Redfin doesn’t have the recent sale that Zillow does. What might that mean? Per Redfin, their property taxes went up from around $3k in 2020 to around $9k in 2021.[/quote] Did they buy in late 2019? If so that could by why their 2020 taxes were only $3K, it likely reflects only partial year of taxes as part of it was paid at the closing table. It jumped in 2021 because depending on where you live, you pay property taxes in advance not arrears, and in some states you pay half in arrears and half in advance. Their property taxes should remain at around $9K for a while. The $700 ask for money though is a little strange. if they can afford to buy a $600K-$700K home (assuming that is the purchase price), they should be able to find $700 in their bank account. [/quote]
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