Who Here Personally Sets Their Real Estate Value for Taxes, Loans and Insurance Value?

[Weatherman2020]

If you don't get my point, then I'm not wasting my time explaining it to you.

The issue is taking the word of someone for large loans. If someone wants to take peoples word, then I’ll use my cruise ship as collateral.

 

[meaner gene]

Banks can loan to whom they want.

And they aren't babes in the woods

But they know they don't have the power to find the truth. Often the value of commercial property, like the value of a stock, is based on the dividends (profits) it can generate. And those figures are entirely the purview of the business. Which in Trumps case, were proven to be fraudulent.

So their independent valuation had to be based on the same fraudulent business statements.

 

[Weatherman2020]

As far as I can determine, banks generally require appraisals but I guess they bend the rules for rich guys. Talk about favoritism. If this had been a Dem politician you idiots would have picked up your pitchforks and marched on Washington.

But coming back to the orange douchebag and appraisals...The company's longtime accountant, Donald Bender, testified that he asked for appraisals but was not always provided them by Trump executives.

Of course, the orange douchebag tried to shift the blame onto his accountant but then what else would you expect the douche to do?

If they want to bend rules, that’s on them.

Issue to sane people is was the loan being paid back?

 

[Weatherman2020]

But they know they don't have the power to find the truth. Often the value of commercial property, like the value of a stock, is based on the dividends (profits) it can generate. And those figures are entirely the purview of the business. Which in Trumps case, were proven to be fraudulent.

So their independent valuation had to be based on the same fraudulent business statements.

If a bank wants to blindly hand out money, that’s on them.

 

[Dragonlady]

And what State lets you do that if yes.

Asking for a friend. Because I really want to understand this Trump accusation and “my friend” may want to move to your State if you don’t need to involve outside appraisals.

Why Trump’s Alleged Real-Estate Shenanigans Went Too Far

You can get away with a lot when appraising property. But not this much.

slate.com

Why don't you look up the laws on bank and insurance fraud, and stop annoying us with your whining threads about how unfair it is to expect Trump to be honest and obey the law.

 

[Weatherman2020]

Because we aren't talking the appraisal for a home, not the property where the loan was taken out.

We are talking FPOTUS#45's personal guarantee on the loan based on his net worth through 500 shell companies.

In your/our home buyer situation you have two things happening:

1. The value of the property itself acting as collateral for the loan. That's why there is typically a down payment so that the collateral value exceeds the payoff value or the loan.
2. The second factor is the interest * * RATE * * the lender will demand. In your/our case the lender is going to require things like pay slips, W-2's, X years tax returns, current balances on any financial accounts, etc. And of course the ever popular Credit Score.

FPOTUS#45's issue isn't the collateral value of the loan, his legal problems stem from - in his world - legal documents called "Statements of Financial Condition" showing his net worth as part of obtaining lower rates.

But of course many will ignore this difference to rage that FPOTUS#45 is the victim.

WW

Every property in America has a government appraisal value.

 

[Weatherman2020]

Why don't you look up the laws on bank and insurance fraud, and stop annoying us with your whining threads about how unfair it is to expect Trump to be honest and obey the law.

Leftard Canadian chimes in with stupid comments because the crux of the issue is a wet noodle!

 

[meaner gene]

The issue is taking the word of someone for large loans. If someone wants to take peoples word, then I’ll use my cruise ship as collateral.

Of course, if it was Trump, like his Trump Tower apartment, he would claim the cruise ship was three times the size it actually was.

 

[Dragonlady]

If they want to bend rules, that’s on them.

Issue to sane people is was the loan being paid back?

If the want to bend the rules, they risk going to jail. What part of most people are honest and don't lie to their bankers, do you not understand?

 

[Weatherman2020]

Of course, if it was Trump, like his Trump Tower apartment, he would claim the cruise ship was three times the size it actually was.

So?
Trump tower has a government appraisal value on it.

 

[Weatherman2020]

If the want to bend the rules, they risk going to jail. What part of most people are honest and don't lie to their bankers, do you not understand?

Banks will go to jail for bending rules?
Then they arrested the wrong man.

 

[Fort Fun Indiana]

What kind of bank loans money on peoples word?

Every single one. Already explained.

 

[Magnus]

If they want to bend rules, that’s on them.

Issue to sane people is was the loan being paid back?

Nope, it is not. They have a fiduciary duty towards their shareholders who expect them to make a profit.

And if they don't, then the law steps in.

This is known as the Rule of law - remember you idiots used to be all for it but after you got a criminal as your leader, you dropped it like hot coals? That one.

 

[Fort Fun Indiana]

If I want to take your word you’re worth $700B and need $1k loan from me, it’s on me if I believe you or not.

Wrong. You would have me submit a series of financial statements compiled by a reputable thirrd party, and I would have to attest to their accuracy, under penalty of law.

I know that's the 20th time this simple idea has been explained to you.

 

[meaner gene]

Uh... what? Since when does the BMV ask you the value of a car, for your tax? Maybe my state is a little more ahead of the times.

I was registering a used car. Where you have to pay the sales tax, based on the value of the car, before you can register it.

 

[Weatherman2020]

Every single one. Already explained.

So I just tell them my 500 acres of swamp in Florida is worth a trillion?

 

[Fort Fun Indiana]

I was registering a used car. Where you have to pay the sales tax, based on the value of the car, before you can register it.

In Indiana, you get taxed on the sales price.

 

[Weatherman2020]

Nope, it is not. They have a fiduciary duty towards their shareholders who expect them to make a profit.

And if they don't, then the law steps in.

This is known as the Rule of law - remember you idiots used to be all for it but after you got a criminal as your leader, you dropped it like hot coals? That one.

So the bank failed to do its job.

 

[meaner gene]

I told Virginia my car was worth $1 when I first registered.

They used blue book price.

You should have just lowballed it by 20%.

 

[Fort Fun Indiana]

So I just tell them my 500 acres of swamp in Florida is worth a trillion?

A reputable accounting firm is not going to accept that.

Now, if you acted like Trump and lied about the amount of land and the sizes of the buildings on it to get to your fake value, then attested to that under penalty of law, a firm may put that on your financial statement.