New Build Tax Proration Adjustment

Get Money Back On A New Home
Post Holiday Rebates Pay the Bills

Last month we sent over $7,500 to new homeowners. It was a fun time in our office.

The traditional property tax pro-rations done at closing on new build homes are nearly always inaccurate and unfair to the buyer. To help rectify the situation, we include a clause in each contract calling for a “post-closing adjustment”. When the true property tax bill is available the following year, we collect the information and forward our calculations to the building company. The result is a rebate to our client in amounts that have range close to $2,000 each.

Seems that 90% of home buyers are not aware of the issue and fewer even remember to go back and collect the adjustment, since six to twelve months have passed after their closing. Also, the property tax bill is paid by the lender and the new home buyer has forgotten about the adjustment that is due to them.

So each year we collect the information from the county auditor, prepare a summary of the adjusment and submit the request to the building company to obtain a reimbursement for our “new build” clients. Imagine the surprise of receiving a check for $1,750 that you did not expect.

This is just one of the services we provide that is “over and above” expectations.

If you or someone you know (friend, relative, co-worker) are considering buying or selling real estate consider the advantages.

Call
Jim Lubinsky
Re/Max Affiliates
614-766-5330 ext 119