Pacific PALISADES Realtor Anthony Marguleas has begin that aback the affluent or the bashful accord in absolute estate, they sometimes appetite the capacity kept mum. Especially what they paid for a property.
To that end, the Combined Los Angeles/Westside (CLAW) Multiple Advertisement Service, which covers a ample swath of Los Angeles Canton including the flush Brentwood, Beverly Hills and Pacific Palisades areas, accuse a $250 “confidentiality fee” to accumulate a auction bulk off the MLS.
When a few of his flush audience angled him off, however, Marguleas apparent that these “secret” prices aren’t clandestine afterwards all.
It turns out that award a purportedly arcane auction bulk — at atomic in Los Angeles Canton — is appreciably accessible for anyone who knows the acreage abode or assessor’s identification cardinal and has admission to the Internet.
The canton assessor’s website, at www.lacountyassessor.com/extranet/DataMaps/pais.aspx lists contempo auction prices, tax cycle ethics and added advice for backdrop aural its boundaries, including those homes with heretofore hidden prices. Added Southern California counties, including Orange, Riverside, San Bernardino and Ventura, additionally column tax cycle ethics on their sites, but they don’t column contempo auction prices.
A applicant who bought a $2-million home in Santa Monica was amid those to atom his property’s auction bulk on the L.A. Canton site, Marguleas said. “He said, ‘Hey, Anthony, you told me this wasn’t activity to be reported, and I begin out it was.’ “
Another client, Jed Petrick of Pacific Palisades, paid the fee aback he bought in Pacific Palisades.
“I am actual afraid and aghast to acquisition out that afterwards advantageous the $250 fee to the MLS,” Petrick said, “that it does not accomplish the auction bulk of my home confidential.”
Apparently, the fee to account a auction bulk as $0 alone applies aural the MLS.
All acreage exchanges and sales prices are appear to and recorded by their corresponding counties so that acreage taxes can be adjourned for the new owners. Since 2000, the L.A. Canton registrar-recorder has beatific the adjudicator cyberbanking copies of recorded deeds, as able-bodied as a abstracted book advertisement the client and agent names (which abide confidential) and the recording date, certificate cardinal and alteration tax.
The botheration is, the adjudicator posts all auction prices online, alike allegedly abstruse ones.
County assessors, however, do accommodate a apparatus for homeowners to accumulate bulk advice private. The buyer, aback recording the admission deed, allegation announce that the alteration tax is not a accessible record. The canton again lists the auction bulk as $0, places the documentary alteration tax bulk on the aback of the accomplishment (or on a abstracted anatomy absorbed to the deed) and stamps “transfer tax is not a accessible record” on the advanced of the deed. This is done because alteration tax can be acclimated to actuate a auction price.
In L.A. County, for example, the alteration tax is $1.10 per $1,000, and in the burghal of Los Angeles, it’s $4.50 per $1,000. So if $1 actor was paid for a home, the absolute alteration tax would be $5,600.
L.A. Canton doesn’t allegation a fee to adumbrate the tax.
But alleged “confidential” prices accept consistently been accessible record. Afore computers, analytic for auction prices appropriate visiting or phoning the bounded canton adjudicator appointment to admission the information.
“If you apperceive area to attending for it, you can acquisition it,” said L.A. Canton Assistant Adjudicator Bonnie Oliver.
Posting auction prices online is altogether legal. The accompaniment acquirement and taxation cipher “allows the adjudicator to column the sales bulk aback accepted by us,” Oliver said. “And, of course, we apperceive it, so we charge to affectation it.”
The affluent aren’t the alone ones who sometimes appetite to adumbrate a auction price. Architect and absolute acreage flippers — speculators who buy and again bound resell homes — generally appetite to burrow what they paid to accumulate -to-be buyers from advertent their markup.
“When a architect buys a tear-down in Manhattan Beach, they don’t appetite bodies to apperceive what they paid,” said Michael Davin, controlling carnality admiral of CataList Homes, a South Bay brokerage. “They would buy it, scrape it, and nine months after accept a abode up, and they didn’t appetite bodies to apperceive what the accumulation was.”
There is a window of about two to three months afore the auction advice appears on the assessor’s site. For example, Oliver said, “the January-February sales are not usually candy until the end of March.”
If a home’s auction bulk isn’t yet listed, the property’s accepted tax cycle amount can be bent by abacus the acreage and advance figures, which additionally are acquaint on the site.
As for the names of the buyers and sellers, accompaniment law requires that home addresses of assertive accessible officials, including board and badge officers, not be appear on the Internet.
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