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 Post subject: Hey smart people and/or homeowners...
PostPosted: Wed Jul 05, 2006 6:41 pm 
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Secretary of Scratch
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I need help.

I overpaid my 2003 taxes by $899.04. I know this because my closing fees when I sold my condo were higher and my lawyer told me that I was overpaying because of "arrears" or something.

A few months ago (I'm a procrastinator), I began the refund process. I obtained my closing deed, the closing check that the title company used to pay the taxes, my loan history and my 1098 from that tax year. Everyone that I've talked to up until now (lawyer, paralegal, title company people) has said that this refund is mine.

I went to the Cook County Treasurer's office today and realized that the title check was paid in the amount of $899.04 to the CC Treasurer "on behalf of Mohammed XXXX". That's the dude that bought the condo from me.

So, I feel dejected and dumb today. I closed on the sale by myself because my husband (the smart one) had already moved out of state. I've tried hard to not be the stereotypical "I need a man to help me out!" girl, but now I'm feeling like an asshole. I don't really know how to read all of these closing statements to know what's what, so I don't know if this refund really does belong to me. Wouldn't the taxes have to be paid on behalf of the new owner to show that they're up to date? I haven't called my lawyer/paralegal yet (I feel like I would just start crying and babbling, so I'll wait until tomorrow morning), so if any of you can help me out here, I'd appreciate it.

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PostPosted: Wed Jul 05, 2006 8:53 pm 
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I think there are 0 responses to this after a couple of hours speaks volumes to the fact that none of us actually fit both of the thread's criteria for response. Did you sell your condo to one of them terrorists? :D

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 Post subject:
PostPosted: Wed Jul 05, 2006 9:00 pm 
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Secretary of Scratch
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I figured we'd have a lawyer somewhere around here.

I sold my condo to a really nice guy who buys a condo for each kid when they enter college. I mean, it seems excessive, but I met his wife and two kids and they all seem like nice people. Damn terrorists. Give me my $900 back.

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 Post subject:
PostPosted: Wed Jul 05, 2006 9:47 pm 
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I typed a response earlier but deleted it...

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 Post subject:
PostPosted: Wed Jul 05, 2006 9:53 pm 
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So, you had a lawyer at closing, or no? Seems like you should be able to get your $900 out of Mohammed's escrow account. You may also have recourse through the title company.


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PostPosted: Wed Jul 05, 2006 10:12 pm 
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Okay, well Mohammed took your money and paid his taxes with it. He probably didnt realize he was doing it, but the closing company likely wrote out the check, assuming that it was due the buyer. There might honestly be nothing you can do about it at this point, unless your closing statement shows you are due XXXX dollars and you were only paid XXXX-900 dollars, which would seem to be cut and dry.


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 Post subject:
PostPosted: Wed Jul 05, 2006 10:20 pm 
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red Wrote:
I figured we'd have a lawyer somewhere around here.



Just a bunch of law students.


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 Post subject:
PostPosted: Wed Jul 05, 2006 10:31 pm 
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i have absolutely no idea and I took a year of contracts, income tax, and property transactions. you dont learn anything in law school, really.

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 Post subject:
PostPosted: Thu Jul 06, 2006 2:05 am 
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Billzebub Wrote:
So, you had a lawyer at closing, or no? Seems like you should be able to get your $900 out of Mohammed's escrow account. You may also have recourse through the title company.

I did have a lawyer. His assistant talked me through most of the closing, though. That was a disaster in itself.

I'm much calmer now, so I'm going to call the lawyer's office in the morning and see what they can do about this.

Thanks for the help, anyway.

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 Post subject:
PostPosted: Thu Jul 06, 2006 10:07 am 
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I'd either go to your lawyer, who sounds like a f-up, or a different lawyer who will take a cut.
I have a really great lawyer in Chicago who is all business and can probably have this situation wrapped up by tomorrow if you want his info.


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 Post subject:
PostPosted: Thu Jul 06, 2006 10:12 am 
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Red, I'm of no help at all but wanted to wish ya luck.


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 Post subject:
PostPosted: Thu Jul 06, 2006 11:23 am 
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Al Queda is 900 bux richer! thanks!! :)

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 Post subject:
PostPosted: Thu Jul 06, 2006 12:01 pm 
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if you paid the taxes, and you overpaid, then the money should be yours.

we've been overpaying this year & just found out last month. the city & county office sent us a refund check and the loan co (citimort) has reduced our monthly payment accordingly.

from the sound of it, you'll need to go thru a lot of wrangling to have your money back, but it's yours, so you'll need to keep on fighting. contact the govt office who you paid the taxes to, and your lawyer of course. that's a start.

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 Post subject:
PostPosted: Thu Jul 06, 2006 1:21 pm 
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Have you talked to anyone yet Red?


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 Post subject:
PostPosted: Thu Jul 06, 2006 1:51 pm 
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Secretary of Scratch
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I left a message with my lawyer/paralegal. She's pretty good about getting back to me.

This is so frustrating. Never make plans for money that you don't have.

Would you mind sending me your lawyer friend's info, timmyjoe?

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 Post subject:
PostPosted: Thu Jul 06, 2006 5:03 pm 
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i work in the mortgage field and would be curious to see your HUD1 statement. that would pretty much tell me what i would need to know in order to say weither or not you paid to much in taxes.

basically in illinios, you pay your taxes in arrears, that is, the check(s) you cut and mail in 2006 pay for 2005's taxes.

if you buy a house in 2006 and the tax bill has not come out yet, you are responsible for 2005's taxes.

this is balanced out at closing. the seller of the house must give you the money owed for all the unpaid taxes for the time he lived in the house.

if the first installment was due at the time you bought your house, then the title company may have simply collected the instalment that was due and paid them on him behalf. (this sounds like what would have happened.)

you would not have owed any taxes to the county at the time you purchased your home.


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 Post subject:
PostPosted: Thu Jul 06, 2006 5:33 pm 
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Secretary of Scratch
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HUD statement is right in front of me. What do you need to know?

By the way, this all happened when I sold the condo. Purchasing it was much easier and much less heartbreaking.

edit: Upon reading page two of this HUD thing, it looks like the buyer did pay the taxes and I did not. Now I don't understand why the Cook County Treasurer's website indicated that I am due a refund and why my attorney and the title company have indicated that I'm due a refund. I'm so confused.

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 Post subject:
PostPosted: Thu Jul 06, 2006 5:53 pm 
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wow, i can not imagine why you would have to overpay that much!

sry i mis-read that you sold and were not buying (since im at work, i was probably just in work mode and thinking buy, buy, buy....)

anyway....what month did you close in? and what does the bottom half of the hud1 say on both the buyer and sellers side as far as tax amounts/credits/etc? and does the hud 1 show you paying to cook co.?

if you want, you can just p.m. me the info and i can try to help you out a little more


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 Post subject:
PostPosted: Thu Jul 06, 2006 6:29 pm 
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That's weird that the buyer paid the taxes. I bet that the buyer paid the taxes on paper from funds that were taken out of the money you collected from the sale of the condo. You apparently overpaid the buyer, who paid the taxes, which is why the check was cut to them. Did the Cook county website say you were owed a refund, or the property (owner) is due a refund?


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