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West Jordan Utah Form 5471: What You Should Know

For Sale By Owner Property — 2.2 acres at 4.5  feet thick, and approximately 1.1 million, for sale by owner. Inventory Report, Oct-15-2016, at 5,550.00,  Listing Statement, April 15, 2016, at 500,000.00 Inventory Report, Aug-15-2016, at 3,975.00,  Listing Statement, Aug 1, 2016, at 1,500.00. For Sale By Owner Property — In October 2010, the property came to my attention and offered.  During the following 2 years, the property remained in use,  and the property owner filed the necessary papers to amend the  Assessment to increase its assessment.  This was done on June 23, 2013.   In September 2016, the property was sold for 695,000.00, the current assessment. The seller had the opportunity to use this assessment to lower the purchase price, which they did.   Although the current assessment was 3,969,000, the seller used the 5,550.00 ac 6,000.00 assessed value per property in their attempt to sell the property.  The property had a price tag of 3,968,000, and the seller was willing to accept a lower sale price.   Accordingly, I had the seller submit a statement in lieu of a sale price, stating that the property's value would increase or remain the same based on the assessed value.   The current assessed valuation of this property was listed as 3,968,000.00 and on the Statement of Cash Receipts, in the amount of 5,550.00.   The seller will receive tax receipts showing that the property's assessed value dropped to 3,968,000.00 and that sales tax was  paid to the City of West Jordan. There were no offers on the property during the last quarter.  To purchase this 6,650 square foot home, the buyer will have to pay, 1,995,900.00 for the property with a 300,000.00 down payment and a loan of 1,695,900.00 with an interest rate of 7.

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