Keller Williams Realty Atlanta Legal Tip:
Fulton County Taxes Are Out as of October 7th
- Fulton County property tax bills have been mailed to some properties, and the rest will be coming out by October 15th. The due dates for 2009 have been extended to 11/30 for City of Atlanta and 12/15 for Fulton County.
- If you are closing a property in Fulton County, it will help both your buyers and sellers if you make sure that the Fulton County taxes are paid at closing. This may require an update to short-sale HUD’s and REO HUD’s that have already been prepared and/or approved.
- Do not assume that your buyer’s new lender will pay these bills, because the due dates are much later than usual, and the lender expects the bills to be paid already.
- The bills from Fulton County are all marked as “temporary”, which gives the Tax Commissioner the right to issue supplemental bills later on. Therefore, the title insurance issued to the new buyer and lender will still contain an exception for 2009 taxes.
- Keep in mind that most short sale sellers will be uncooperative and/or unavailable when the supplemental bills come out, and REO sellers do not assume any liability for taxes that come out after the closing.
- Make sure that your buyer understands this and assumes the responsibility for paying any supplemental bill.
Presented by Leigh Clack, Attorney
Neel & Robinson, Attorneys at Law LLC
22 Lenox Pointe, Atlanta, GA 30324
404-705-3690 fax 404-705-3697
More Keller Williams Atlanta Legal Tips:
First-Time Home Buyer’s Tax Credit – Don’t Wait Till The Last Minute!
Buying Property From The Bank: Tips For Buyers
Waiting Periods Required Under New Truth in Lending Law
Fulton County Property Tax Bills – How Does This Affect Buyers and Sellers in Fulton County?
Termite Letters – Still a Good Idea
Tags: atlanta real estate legal tip, fulton county taxes, keller williams realty atlanta, Leigh Clack Neel and Robinson, neel and robinson atlanta
