Asked by Magdalena, 98101 • Thu Mar 27, 2008
prepay any property taxes at closing, because we are not required to have an impound account. We just received the HUD1 yesterday (supposed to close today) and see we are expected to bring ~$700 to closing to repay the seller for taxes they paid through June. I understand that we would be paying it anyway, but I'm frustrated that we have to pay it at closing because:
a.) we were told we wouldn't have to
b.) we were very meticulous about calculating closing costs and deliberating whether or not to buy an extra point based on the fact that we wanted to use the seller's credit. now that there is this 'surprise' cost, we wish we hadn't bought the extra point.
Do we have to repay the property taxes? Can't the county repay the seller and we will pay them ourselves when due?
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