My closing date could be between Nov 2 and Nov 17. The taxes on the property are due on Nov.10. Any ideas?

Answer 1

Pay the taxes after you close. Your lawyer should be telling you this. Just let the town/city know this. The current owner should do this for you. There will be a minor late fee if the taxes are a week late but it will only be a few dollars.

Answer 2

These would normally be backward i.e. for the past 6 months. Escrow will handle that w/ the seller. If you close before the 10th, the lender will require that. In fact if you are closing w/ less than 20%, taxes will be part of your monthly mortgage payment. Your escrow agent can explain. Your realtor can probably get through easier.

Answer 3

Man, this is a little open ended.....are you talking about a real estate transaction? If so, property taxes are prorated between parties based upon closing date. If you are talking about paying the taxes, most states just charge a penalty if you don't pay them timely. It won't prevent you from selling the property. You might elaborate upon your question and concern

Answer 4

i take it you mean you are purchasing a house and will close on it around the time when property taxes are due? any tax due should be paid at closing. i work for a company that buys and rents houses and all of ours are that way. you should certainly voice any concerns or questions before or during the closing to make sure when your taxes will be due.

Answer 5

You'll pay about the same one way or the other, either to the taxing authority, or to the previous owner if he pays them. If you pay them late, there would be a minor penalty - where I live, late payment is 2% but could be different where you are.

Answer 6

Just pay the taxes and your lawyer will adjust for them at closing.
It happens all the time. If you don't pay them then the adjustment will be in the other party's favor.
Good luck on your move.

Answer 7

Your Attorney or Escrow should take care of this through Title. Ask your professional