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I am not sure if this is the right place for this but if its not, sorry.
I sold a house and went to closing. On the HUD, it had my tax at $3000 although I think it should be around $2000. I told the title closer and he said you will get the tax back if you over paid. I wasn't happy but I signed. After 2008, I checked on the tax record for the property and it was $2800. I should be only responsible for around $1950, the rest should be paid by buyer.
What can I do? I called and told the title company and they haven't responded back to me. It has been more than a week and it seems like they are ignoring me. Shouldn't closing company pay me first and then get the payment from the buyer?
Shouldn't closing company be penalized for ignoring my request to check before creating HUD?
I'm surprised you and your Realtor didn't pick up on this when you reviewed the HUD prior to going to closing. I would have your Realtor take care of it.
I'm surprised you and your Realtor didn't pick up on this when you reviewed the HUD prior to going to closing. I would have your Realtor take care of it.
I knew and mentioned it. Title closer attorney told me we will get refund if over paid. I am across the country now and I don't remember who my Realtor was.
Can I take them to small claims court?
Samething I think happened to me. The estimated value was listed based on previous tax year. Even though I was in midst of a tax assement fight. I paid my portion (9 months) based on the previous years numbers. (only available at the time) Well tax fight came in after and I paid way more than I should have. Probably by a $1000. But I am pretty sure I have no recourse. Sucks.
But not sure what else I could have done.
In Texas, one of the standard documents title companies have the buyer and seller sign is a tax proration agreement that says if taxes are being paid at closing based on an estimate, the parties are obligated the reconcile the prorations after the actual tax bill comes out. The title company is not responsible for this reconciliation.
I don't know where you are, but you should check your closing file for such a document. If it's not there, check your purchase agreement for a tax proration provision.
I told the closer that the number did not look right since I know what I paid the previous year. I paid more than the previous year although I only lived there 8 months. Closer told me to wait until the bill comes out and since it hasn't come out yet, they couldn't determine.
I don't remember signing anything but they should have known better to ask me what I paid the previous year instead of estimating what ever they thought it was.
They don't just guess. They figure the estimation on whatever percentage the tax rates are at now. They can't be held responsible if the county jacked up the value of the house. They should return your calls though. I know that the counties are obligated to send you the money back if they've gotten more than you owe, but they move slow.
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
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Your issue is not with the realtor, but with the closing agent and the attorney you had to close the deal. Your realtor could assist you, but a mistake by the escrow agent is their responsibility. You may have been looking at a preliminary HUD-1 as the final is issued as of the closing date.
An escrow should never be closed if there is money owing one party or the other or if one party has failed to bring funds sufficient to close escrow.
The same thing happened to me a number of years ago. The HUD 1 was redone in the office and I was given a check right there from the closing attorney. The closing attorney should have had paperwork (tax search) that was paid for. If the taxing agent (town or county) submitted the figures and it was paid now adjustments have been made you can go to the town to receive a refund. Call your local tax office and see where they applied the payment and if the overpayment is still showing. They will advise you further.
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