October 21, 200421 yr When I sold my townhouse it was brought to my attention that I had not filed for my yearly exemptions.. so that was a nice surprise as I got some extra cash. So now I find out that they OVERPAID me. They gave me the credit, AND they cut me a check. I asked them at the time why.. and they said it was correct. Luckily I figured it wasn't correct and I kept it in the back of my mind that I was going to have to pay the buyer the '03 taxes. I called my attny and she said "oops.." and the title company says.. "hmm.. don't understand how we messed that up.." I mean c'mon folks.. you do this for a living!! How can they be so careless..?? Luckily I planned on sending the guy a check.. I can't imagine someone who had not planned for it getting socked with a letter saying you owe someone a few grand. Morons.. I feel bad for the guy. But at least he was cool about it since I called him first telling him I would be sending him a check.
October 21, 200421 yr First of all congratulations on doing the right thing but . . . I believe the Title Company is normally obligated to cover these types of mistakes. They are the insurance to the buyer and seller. You may wish to contact your attorney, or perhaps a new one.
October 21, 200421 yr In defense of attorney's and Title Companies. When I dealt with companies setting up shop in foreign countries something always stuck with me. When you buy some real estate in the US you are 100% assured that the title is clear. That someone isn't going to pound on your door demanding you vacate their property. We have so many attorneys because we have so many rights and freedoms. [/back to lawyer bashing]
October 21, 200421 yr Author First of all congratulations on doing the right thing but . . . I believe the Title Company is normally obligated to cover these types of mistakes. They are the insurance to the buyer and seller. You may wish to contact your attorney, or perhaps a new one. I did contact a new attny.. and I can hold them liable. But it's not a big deal. I got the $$ twice, and it's not mine. I have no interest in waging a war over a couple grand. The assessors's office is also involved as they should have issued a credit to the buyer, and they didn't. Then they would have called me for the money and I'd have had to send them a check versus the buyer. I'd rather deal with the buyer. Just aggrevating. And greasy.. I'm sure they are not all stupid. The one I am working with to close on some more property I bought on the 29th is actually great.
October 21, 200421 yr I did contact a new attny.. and I can hold them liable. But it's not a big deal. I got the $$ twice, and it's not mine. I have no interest in waging a war over a couple grand. The assessors's office is also involved as they should have issued a credit to the buyer, and they didn't. Then they would have called me for the money and I'd have had to send them a check versus the buyer. I'd rather deal with the buyer. Just aggrevating. And greasy.. I'm sure they are not all stupid. The one I am working with to close on some more property I bought on the 29th is actually great. As I said, you took the high road and that is commendable and classy I hope if you ever make an error, the other side has the same restraint and class.
October 21, 200421 yr Idiot lawyers? Are there any other kinds /lawyer jokes Isn't Israel4ever a lawyer?
October 21, 200421 yr Author As I said, you took the high road and that is commendable and classy I hope if you ever make an error, the other side has the same restraint and class. It's not the buyers fault, and if I started a pissing contest to prove who's right, he'd be the one to suffer. It's good enough them knowing they effed up.
October 21, 200421 yr When we bought our house from my Grandmother, we got it on a quit claim and paid the taxes ourselves. When we got a mortgage, the homestead exemption never transferred. You figure the mortgage company or the title company would say something. Huh. And another thing, the county screwed up our mortgage exemption. It got lost somehow. We still had the receipt that we had paid for the paperwork to have it done, but the county pretty much said, "Oh well, you're screwed for this year and it will be exempted starting next year." Assholes! :fyou As a result of these two f***ups, our property taxes are about $1000 more than they should be. Add that to all the prop tax problems that we already have in Lake county, Indiana and you've got yourself a major clusterf***! / rant over \
October 21, 200421 yr As I said, you took the high road and that is commendable and classy I hope if you ever make an error, the other side has the same restraint and class. Ditto! It's hard to find these days.
October 21, 200421 yr Author When we bought our house from my Grandmother, we got it on a quit claim and paid the taxes ourselves. When we got a mortgage, the homestead exemption never transferred. You figure the mortgage company or the title company would say something. Huh. And another thing, the county screwed up our mortgage exemption. It got lost somehow. We still had the receipt that we had paid for the paperwork to have it done, but the county pretty much said, "Oh well, you're screwed for this year and it will be exempted starting next year." Assholes! :fyou As a result of these two f***ups, our property taxes are about $1000 more than they should be. Add that to all the prop tax problems that we already have in Lake county, Indiana and you've got yourself a major clusterf***! / rant over \ Eye.. the assessor let me go back 3 years and get the refund. You have to go there in person though and fill out the exemption forms which was a pain in the ass cause I had to go all the way to the county building downtown... but for Will county I think that's just in Joliet. I'd try again if I were you. It was well worth it for me. It was about $700 per year. And I agree that the mortgage companies should say something. Although they are making $$ of your $$ sitting in escrow so I can see why they wouldn't. Edit.. whoops, I thought you said Will, not Lake..
October 21, 200421 yr Eye.. the assessor let me go back 3 years and get the refund. You have to go there in person though and fill out the exemption forms which was a pain in the ass cause I had to go all the way to the county building downtown... but for Will county I think that's just in Joliet. I'd try again if I were you. It was well worth it for me. It was about $700 per year. And I agree that the mortgage companies should say something. Although they are making $$ of your $$ sitting in escrow so I can see why they wouldn't. Edit.. whoops, I thought you said Will, not Lake.. Yeah, Indiana. It's a mess. My wife went in and complained, but it didn't do any good. The mortgage exemption isn't that much. The homestead exemption is huge, though. I blame myself for that. I should have brought it up, but I think a good mortgage company would mention something like that.
October 21, 200421 yr We lucked out and didn't have any problems with the title company while refinancing. My parents were so lucky. The company kept telling them their house didn't exist. Turns out they had the wrong name for the area or something like that.
October 21, 200421 yr Author We lucked out and didn't have any problems with the title company while refinancing. My parents were so lucky. The company kept telling them their house didn't exist. Turns out they had the wrong name for the area or something like that. If I had filed for the exemption all along I wouldn't have either.
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