The 2nd is the supplemental tax bill you get several months after closing when the IRS processes the sale and determines what your property taxes should be vs what they were for the previous owner. This maybe a refund if the previous tax base was higher or could be a bill for the difference if the purchase price was greater than the previous assessment.
You may receive a small amount of per diem interest or tax dollars, but it should be very minimal.
What I always recommend to any of my clients, is if you receive any amount of funds back from the title company or new lender, give me a call and we can discuss why.
The new impound account may have taxes collected for your new purchas amount but only have a tax bill for the old buyer's tax rate. This would cause a huge overage in your escrow account and a false refund sent to you. Those funds would actually need to be returned to the new lender to cover the supplemental tax bill that may be arriving to you shortly thereafter.
Whatever you do, don't spend the money until you know why you received it!
If you've closed escrow on your Long Beach home, you may expect a refund from your lender out of what's known as the impound account. The account used by your lender to pay for your property taxes and home owner's insurance. Any leftover funds from there will typically be refunded within 30 days of closing.
Your best source for the correct information on your individual circumstances will be your Realtor working for you. Make sure you get your own Realtor. The good news is, when you're a buyer the Realtor you choose works at no charge to you. Good Luck!
Keller Williams Realty
Realty One Group
You might be thinking of a situation where the Seller of your new home credits money back to you, at close of excrow, for closing costs. This is done through escrow and you never actually see any cash. But, you don't have to bring as much money in to close the deal.
Any such arrangement must be negotiated at the time the offer is made. Often, a Buyer must actually pay more for the house ... maybe over the list price ... to compensate (hopefully only partially) the Seller for his "concessions. But the Buyer usually comes out at least a little ahead. Remember that the new tax bill will be based upon the total purchase price so your county tax base may go up a tiny bit in this case.
The only other thing I can think of would be the refund of your deposit on the home you rent now!
Typically during escrow, the buyer is estimated with a "pad" of around $500-$1000 to cover any unforeseen extras, due from buyer, at the time of funding the loan. Therefore, upon closing escrow, the buyer gets any unused portion of the pad refunded. It should be returned within a couple of days to a week, not months later.