I’m sure I’m not the only Buyer’s agent who fielded a call this Fall from a (mildly) annoyed client, wanting to know why Hennepin County sent them an invoice for 2nd half property taxes.
Especially when they were sure their agent (OK, me) showed them on their closing worksheet (now called the “ALTA”) exactly where that was itemized.
The explanation?
It’s purely a timing issue.
According to the folks at Edina Title (just down the hall from me at Edina Realty – City Lakes), there’s a communication lag between Hennepin County’s property tax and title recording departments.
Think it of it as “crossing in the mail.”
Bottom line: my clients could toss the invoice.
See also, “What’s in a Name? From “Settlement Statement” to “HUD-1” to “ALTA” Back to “Settlement Statement.”
