Profile picture for cakemouse

Closing agent misleaded us on the HUD, now what should we do?

We purchased a home back in Aug'08.  On the HUD the previous owner's had their unpaid 08' property tax set aside for us to pay later.  But when we received the tax bill early this week, the property tax had went up 18%, the money the previous owner left for us to pay their tax bill was not eough to cover this tax bill.  We checked with the title/closing agent and ask why they use the wrong rate to calcuated the tax, what they told me was they had used the most current rate avaliable to do the calculation, and this is something they could not control or do about and we would have to pay this increase. And once closing is done and its done.(They said they just use the rate ont he auditor's website to get the '08 unpaid tax, not actually check with the treasurier's office, how rediculous!)   

I am very unhappy with their answer.  I checked with my auditor's office and they said they rate increase had passed in May'08, but our closing was done in Aug'08.  My closing agent which provide us misleading information on the HUD and claim it was correct.  Any advice on this?

thanks,

Kate
  • January 09 2009 - Chicago
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

Answers (3)

Kate: depending on the amount it may cost you more to seek an attorney than the difference. It they followed industry standard practice, which this very well may be for your juridiction, I doubt they will have any liability.

You should seek an attorney for actual legal advice, but it will probably cost you $250-300/hour.

(A law student, but not a lawyer - contact an attorney for legal advice)
  • January 12 2009
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Definately check with the attorney who closed the transaction for you.  They can explain what the tax prorations were based on and why.  I believe you're in cook county.  Make sure all exeemptions you qualify for are applied for and that you file an appeal of any increase.
  • January 12 2009
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Sounds like an Attorny question to me.
  • January 09 2009
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.