Home Buying in Detroit>Question Details

Aisha, Home Buyer in Detroit, MI

Do I have to reimburse seller for the full 2012 years taxes, if I'm only living there 3 days of 2012?

Asked by Aisha, Detroit, MI Sun Dec 9, 2012

Closing at the end of the month,
I talked to my lender last week, he said I need to pay the seller at closing for taxes that were PAID for 2012.
After thinking it over, that means I need to reimburse the seller for the 2012, WHY would I reimburse the seller if I didn't live there but 3 days of 2012?

Thats his tax bill, right or wrong?
Also I looked the tax records and he have never paid the 2012 taxes billl, so that will be deducted out of his disbursements check at closing?

Please help me understand?

I was under the impression that I would have to put a couple months of taxes into escrow, not the whole 2012 taxes to the buyer.

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Answers

5
you only pay for the taxes that you occupy the home for. The rest is paid by previous owner to the closing date. Period ,i f your charged more they are cheating you. End of story
0 votes Thank Flag Link Wed Dec 19, 2012
The 2012 taxes would be prorated for the time that he occupied the home and would come out of his proceeds, What did your purchase agreement say, this would have been spelled out in your purchase agreement, Who is your agent,
0 votes Thank Flag Link Thu Dec 13, 2012
It's only the unpaid taxes that have been already paid. You'll give back the pro-rated part of what's already been paid.
0 votes Thank Flag Link Mon Dec 10, 2012
Aisha

Good Evening! They will deduct the unpaid taxes from the seller of the property and pro-rate them between both of you. In Detroit there are 2 tax bills a summer tax which is from July 1 2012 through June 30, 2013 and winter tax from December 1, 2012 through November 30, 2013. you would reimburse the seller from the date of closing to July 1, 2013 and from date of closing to December 2013. You will also have to place a couple of months in your escrow account for the coming year taxes.

I hope this helps!

Karen Paytas, GRI, CMS
Realtor
Real Living Kee Realty
586-709-8465
kpaytas@mirealsource.com
0 votes Thank Flag Link Sun Dec 9, 2012
you should pay the pro rated share of the taxes for the days you own the property. If the seller hasn't paid, then their share should come out of their proceeds unless your contract calls for something different.
0 votes Thank Flag Link Sun Dec 9, 2012
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