Buying A Home
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Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Property taxes
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Taxes on the house we are looking to buy are 4300$. We would probably close the end of March. We live in RI.
Would we have to pay a portion of the property taxes at closing?
We planned on rolling our taxes into our mortgage.
I looked online but I can't really find a straight answer.
Re: Property taxes
~Benjamin Franklin
DS dx with celiac disease 5/28/10
Property taxes were included in our closing document. We received a credit for the fall portion of property taxes so it reduced what we brought to closing.
They were not paid (to the local property tax dept) but they were part of th prepaid feed that are put into our escrow account. I can't remember if we had to prepay 1 years worth (and then get a credit for half from the sellers) or if we paid 6 months upfront to escrow.
In my county, taxes are due a year in advance, so when I buy, I will have to pay for the remainder of 2012 at closing. At the end of the year, I will have to write another check for the 2013 taxes. Every county is different though, so I would call your county assessor's office and ask what is required.