A mello-roos is an additional tax on a property at purchase that towns and districts use to finance the construction of government services in that location. The tax money finances improvements to the area to create an appealing area for home buyers. So, the money will often go to schools, hospitals, police stations, road construction, sewer maintenance, and others.
A mello-roos tax can pose an issue for some home buyers. If the additional tax is high enough, it could bump the property value out of the client's price range which will make the property unaffordable for the buyer.
Checking with a local title rep to see if a property has a mello-roos will help any real estate agent avoid unnecessary home buying drama with their client. Always double check on the final property cost to know how much your buyer will spend.
#RealEstateLicense #RealEstate #MelloRoos
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Ep. 127: What is a Mello-Roos? becoming a real estate agent in florida | |
| 58 Likes | 58 Dislikes |
| 1,205 views views | 7.52K followers |
| Education | Upload TimePremiered on 15 May 2019 |
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