When I received the closing statement on my home purchase transaction, I asked for explanation of the 'non-ad valorem tax' adjustment on the closing statement and why I was being charged for the 2018 adjustment instead of getting a credit for same (a credit to the buyer would be 99% normal and customary).
The answer which was provided by the escrow agent says: "The non-ad valorem paid on 3/27/18 for $351.88 was for 2018".
Except that it wasn't for 2018 (the year of my purchase). The $351 payment to the county assessor on 3/27/18 was for the previous year's property tax bill.
I challenged it then (before closing on the purchase) and they assured me I was wrong. The fact: The above-referenced tax payment made was for 2017.
They did the property tax proration backwards. The upshot is that had to pay approx 150% of the property tax bill for 2018. (By closing in early July 2018, the taxes should have been split approx 50%/50%.) The extra ~50% I paid at closing was credited/paid to the seller, so the seller got a windfall (he may not even know).
I've been communicating with the company for more than 4 months trying to resolve. Well mostly I write to ask for a response and mostly they just ignore me. Company management (Shera Hunter) refuses to acknowledge that they made a mistake, and instead points out that I signed an acceptance of the calculations. Yes: I did sign, but only because of their (employee) escrow agent's written assurance that the taxes for 2018 had been prepaid by the seller (see quote above).
Escrow prorations should be very straight forward for an escrow company. Star Title Partners screwed up the facts: The day before closing they stated that the 2018 property taxes had been prepaid by the seller. (Based on that assurance, I signed documents and closed on the sale.) Only later was I able to confirm that the 2018 property taxes had not been prepaid. Despite my challenging their settlement statement, they insisted their facts were right and their calculation was therefor accurate.
Over the last 4 months I've gotten more pissed by stonewalling and illogical arguments from company management. Possibly they still don't understand, but it's not for lack of my trying to get through to them. And if they don't understand why I am owed an adjustment from them, that would mean that they don't understand basic facts which are very pertinent to their core business.
It's a shame they can't be trusted to do the right thing.
Star Title Partners Reviews
When I received the closing statement on my home purchase transaction, I asked for explanation of the 'non-ad valorem tax' adjustment on the closing statement and why I was being charged for the 2018 adjustment instead of getting a credit for same (a credit to the buyer would be 99% normal and customary).
The answer which was provided by the escrow agent says: "The non-ad valorem paid on 3/27/18 for $351.88 was for 2018".
Except that it wasn't for 2018 (the year of my purchase). The $351 payment to the county assessor on 3/27/18 was for the previous year's property tax bill.
I challenged it then (before closing on the purchase) and they assured me I was wrong. The fact: The above-referenced tax payment made was for 2017.
They did the property tax proration backwards. The upshot is that had to pay approx 150% of the property tax bill for 2018. (By closing in early July 2018, the taxes should have been split approx 50%/50%.) The extra ~50% I paid at closing was credited/paid to the seller, so the seller got a windfall (he may not even know).
I've been communicating with the company for more than 4 months trying to resolve. Well mostly I write to ask for a response and mostly they just ignore me. Company management (Shera Hunter) refuses to acknowledge that they made a mistake, and instead points out that I signed an acceptance of the calculations. Yes: I did sign, but only because of their (employee) escrow agent's written assurance that the taxes for 2018 had been prepaid by the seller (see quote above).
Escrow prorations should be very straight forward for an escrow company. Star Title Partners screwed up the facts: The day before closing they stated that the 2018 property taxes had been prepaid by the seller. (Based on that assurance, I signed documents and closed on the sale.) Only later was I able to confirm that the 2018 property taxes had not been prepaid. Despite my challenging their settlement statement, they insisted their facts were right and their calculation was therefor accurate.
Over the last 4 months I've gotten more pissed by stonewalling and illogical arguments from company management. Possibly they still don't understand, but it's not for lack of my trying to get through to them. And if they don't understand why I am owed an adjustment from them, that would mean that they don't understand basic facts which are very pertinent to their core business.
It's a shame they can't be trusted to do the right thing.