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Noenoeclue_is_me · Joined: 15 Apr 2011 Posts: 45 12.63 Dollars($)

Hello, I bought a house in Dayton Ohio last year, and when I bought it, it was from a bank foreclosure. I bought it for $7,500 and that did not include closing costs.

So this is where it gets tricky and went WAY over my head, I had to bring around $7,350 dollars or something to the closing table ( that included closing costs? ) okay... so they paid the taxes for July when I had bought it, I bought it in May, but taxes were already paid, I was told I would get a bill from them or something for the extra closing costs and taxes? but even though they tried to explain it, I think they didn't even know what they were talking about... or something because it was just way too odd. Would I really be responsible in paying the bank back in closing costs and Julys taxes in Dayton? If so how can I find out or make sure I don't get a lien against my property, who can I contact? I never got a bill, but I did move out of there in October and it was supposed to come in December, but we have tenants now and they never mentioned anything.

Any advice would be greatly appreciated.

Niicss · Posted: Mon Apr 18, 2011 2:05 am Post subject:

If you're the owner of the property, then you will be liable for the maintenance as well as the property taxes. As far as lien against the property is concerned, I will suggest you to contact an attorney and take his opinion in this matter. The attorney will be able to guide you better in this matter.

Noenoeclue_is_me · Joined: 15 Apr 2011 Posts: 45 12.63 Dollars($)

I guess I can go that route, but I mean logically, if I was to owe the bank money for taxes that they paid. Would they not call me? my address might have changed but my phone number did not change at all. I will contact an attorney if necessary I suppose, but I don't think I should have to since they can call me or have my realtor who I closed with call me if it is that important. But I could be wrong, I just think if you owe the bank money like a mortgage they will call you and let you know, why not for taxes or other fees? =

Also I don't want to bring this up to the bank if they have forgotten about it, or have already dropped it. Since I personally didn't understand it fully either like I mentioned in my prior post. Well, any other input would be greatly appreciated because this is kind of bothering me but I doubt they put a lien on my property, but I will contact the bank and tell them my address changed and if they need me that this is my new address. Thanks.

Posted: Tue Apr 19, 2011 1:58 am Post subject:

Hi Noenoeclue_is_me!

Welcome to forums!

The bank will definitely let you know if you owe the bank money for taxes. They may even ask you to make a higher monthly payments in order to recover the taxes that they have paid off on your behalf.

Feel free to ask if you've further queries.

Sussane

smithsussane · Posted: Tue Apr 19, 2011 1:58 am Post subject:

It was me above... Just forgot to log in!

jheard · Posted: Fri Apr 22, 2011 6:48 am Post subject:

Usually property taxes are pro-rated at closing. If the bank paid through July, you paid the rest of the year in the closing statement. Read your HUD-1 carefully.

Check the Tax Assessor's office in the county where the property is located to get the current tax status. They almost all have websites now so you can check online.

Noenoeclue_is_me · Joined: 15 Apr 2011 Posts: 45 12.63 Dollars($)

So I called the title agency where I closed, and they said I owe nothing, I am selling the house now. Hopefully I can get a good amount for it and be able to purchase something else.

I also asked the lady if I did owe anything on it, would they have called me, and they said yes, and I never got any calls. So it looks like I am good to go on that. Smile

Thanks for the help guys

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