We have pur. a home and 5 months later to find out there is an assesment we didn't know about. What can we do? It is a city assesment.

Asked by Kim, Buckeye, AZ Fri Apr 29, 2011

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7
Ann Hayes, , Sierra Vista, AZ
Wed Oct 5, 2011
Hi Kim,

That is really a bummer. My recommendation would be to check with your escrow officer who closed the transaction. One of their responsibilities is to get the seller to pay the assessment prior to closing if it was an assessment that was of record prior to your closing. If it is an assessment that the city just levied on all the homeowners in your area, then it is your responsibility. You may want to check with the City Hall to see the timeframe of this assessment.
0 votes
Brad Bergami…, Agent, Prescott, AZ
Fri Apr 29, 2011
Check your contract first.. make sure it didn't instruct the escrow officer to prorate or have buyer pay.
Then check dates of assessment and call Broker of your buyer's agent.
You are ultimately responsible to your contract. Fair warning to every other buyer 'read the contract and understand it' if not get your agent to explain it.
Some bank addendum are tricky so take a look at all of it.
If title made a mistake they will have to fix it.
Sorry to hear about this,
Web Reference:  http://bradbergamini.com
0 votes
Loren Hoboy, Agent, Phoenix, AZ
Fri Apr 29, 2011
Check your title policy to be sure this was not an assessment/obligation that was mentioned.
Is this an HOA charge?
0 votes
BG, Home Buyer, Phoenix, AZ
Fri Apr 29, 2011
it must be that ~$6k some thing assessment, payable in 10 years (from build date), three hundred some in May and hundred some in Dec , annually right ?? check your prelim Tittle report ... I am pretty sure it is in there (if a local Title company was use, they wouldn't miss it). It wouldn't show up in HUD or sell contract and I am pretty sure agents wouldn't tell you if you didn't ask (how would you ask if you didn't even know it existed ?). We spotted ourselves when reviewing the paperwork. Initially we thought we had a good deal; but, it turned out just okay when we factor in this assessment. Personally, I think it should have been disclosed either by seller or by buyer agent (if he/she have sold at least 1 house in Buckeye area). If you can find a better solution (from buyer pays), then I would love to hear it from you.

ps: Buckeye, AZ potential buyers (ask your agent about the assessment (Mel la Rue some thing) and factor it in your final bid price)
0 votes
Loren Hoboy, Agent, Phoenix, AZ
Fri Apr 29, 2011
I would suggest that you contact your Title Insurance Company (call the escrow company you used) and have them help you get to the bottom of this questions.

They can tell you if it is your bill and explain any "Pro-rate" that is yours.
If they missed it and it is not yours, the Title Insurance Policy should address the cost.
0 votes
MaryAnn Ead, Agent, Douglas, AZ
Fri Apr 29, 2011
Hi Kim,
Breathe...... Then find out the date the assessment was placed. If it was before your purchase, look on your contract to see if there was an inclusion as to how prior assessments for the property were to be handled. If an error was made in esrow your title insurer should be able to help you. ....then breathe again.
0 votes
Sandra Paulow, Agent, Pinetop, AZ
Fri Apr 29, 2011
Check with the County Recorder. They should be able to tell you what it is for.
0 votes
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