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How our "public servants" serve the rich and not the public


By Patrick   Follow   Sat, 26 Jan 2013, 8:18am PST   816 views   9 comments
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http://www.mercurynews.com/business/ci_22453809/woodside-estate-sells-117-million-near-record-luxury

And illustrating the steps the parties took to keep it quiet, the documentary transfer tax of $129,250 was written in pencil in a black, three-ring binder marked "Separate Tax Statement" that is kept behind a clerk's desk at the San Mateo County Assessor-Clerk-Recorder's Office in Redwood City. The county allows people filing deeds to request that the tax appear on a separate document. A member of the public who wants to see the tax must go to the office and ask for the binder.

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PockyClipsNow   Mon, 28 Jan 2013, 2:28am PST   Share   Quote   Permalink   Like (1)   Dislike     Comment 1

Hey man if u buy a 100k condo you can also request the tax be hidden. So your headline is BS the same service is provided to non rich.

Cautious1   Mon, 28 Jan 2013, 6:31am PST   Share   Quote   Permalink   Like   Dislike     Comment 2

How many "non rich" know about this option, I wonder? Why is it written "in pencil?" That's a weird detail in an era of computer databases, disquieting in that it implies it can be erased or changed, and who'd know? Did the reporter, Pete Carey, look up that $129,250 figure in the binder himself? Why would the buyer wish the transaction to be hidden? If I were a neighbor to the property, or a party in a suit against the buyer, or a victim of that person, yeah, I'd want to know his name.

thomaswong.1986   Mon, 28 Jan 2013, 7:00am PST   Share   Quote   Permalink   Like (1)   Dislike     Comment 3

Patrick says

How our "public servants" serve the rich and not the public

LOL! its become how the "public servants" serve themselves and not the public.

PockyClipsNow   Mon, 28 Jan 2013, 9:11am PST   Share   Quote   Permalink   Like (3)   Dislike     Comment 4

Obviously if u buy for under market price you want to hide this so when u fix n flip for double what u paid the clueless noob fha buyer thinks hes getting a steal.

The whole country is set up for banks, wall street, flippers, brokers, agents to make moe-nay. Get on board!

APOCALYPSEFUCKisShostikovitch   Mon, 28 Jan 2013, 9:15am PST   Share   Quote   Permalink   Like   Dislike     Comment 5

PockyClipsNow says

The whole country is set up for banks, wall street, flippers, brokers, agents to make moe-nay. Get on board!

hehehe

Patrick   Mon, 28 Jan 2013, 9:51am PST   Share   Quote   Permalink   Like   Dislike     Comment 6

PockyClipsNow says

Obviously if u buy for under market price you want to hide this so when u fix n flip for double what u paid the clueless noob fha buyer thinks hes getting a steal.

Yup. I have been to that very office in San Mateo County and a clerk there told me that the place is rife with scams. Another typical one is to simply overpay the transfer tax and have it recorded.

Sale prices are "estimated" from the transfer tax and there is no rule against overpaying that tax to make the estimated price higher. Which is very useful when you want to screw over that noob FHA buyer, just like you say.

APOCALYPSEFUCKisShostikovitch   Mon, 28 Jan 2013, 10:30pm PST   Share   Quote   Permalink   Like   Dislike     Comment 7

Another data point to fortify the Prison Rape Market that is the housing sector.

PockyClipsNow   Tue, 29 Jan 2013, 3:48am PST   Share   Quote   Permalink   Like   Dislike     Comment 8

This is what freedom looks like! Its messy like cheney said about the newly freed iraq. We are free flip homes its hard work tho!

uomo_senza_nome   Tue, 29 Jan 2013, 3:51am PST   Share   Quote   Permalink   Like   Dislike     Comment 9

PockyClipsNow says

The whole country is set up for banks, wall street, flippers, brokers, agents to make moe-nay. Get on board!

Bang on accurate.

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