Legal Question in Real Estate Law in Florida
Tax Proration Agreement
I closed on the sale of my home in FL recently and noticed that I was charged more than necessary for the taxes I paid to the buyer for this tax year. The tax bill used for the closing transaction was my 2008 estimated assessment. This was higher than what the buyer will actually be paying out based on the fact that 1) this was not my primary residence and 2) the value of the property was $150,000 last year. I sold the house for $135,000 and the buyer will be claiming homestead exemption, knocking $50,000 off of this value for tax assessment. This makes a difference of over $400 in taxes that I am due back, if so. I have the Proration Agreement form from closing, but there is no direction on how to actually bill the buyer and what is necessary to do so. Please advise how to proceed on reclaiming these funds once the new tax bill is assessed and I have determined what my prorated amount to the buyer should have been.
2 Answers from Attorneys
Re: Tax Proration Agreement
Hire counsel. I am not so certain there is an error.
Re: Tax Proration Agreement
Usually all of this is handled by the title company, and they're pretty good at not making these kinds of mistakes. You may want to speak with them. Also, if realtors or lawyers were involved, you may want to speak with them as well. (This is why realtors and lawyers should always be involved in land transactions.)
Still if you're certain you've overpaid and can't get help from anyone, you'll have to issue a written demand to the seller, then sue the seller in small claims court if he or she refuses to refund your money.
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