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First Time Home Buyers-Don't Pay Till You Talk To Your Realtor

By
Real Estate Broker/Owner with Riede Real Estate, Lic. 01310792
Money in Your PocketA Midtown Downtown Home Buyer who recently bought his house is the focus on todays Sacramento REAL Estate article.

Let's call the new First Time Home Owner, Joe. I dropped by to see how Joe was getting along in his new house in Midtown last week and I think he is very glad I did.

Joe suggested that we have dinner at Waterboy at 2000 Capitol Ave which was positively delicious. Waterboy changes their menu each month and uses fresh local produce during the meal preparation...yum and it's good for you, too!

During dinner Joe told me that he had received his tax bill that need to be paid by October 10th. As a new First Time Homeowner, I was surprised that he would receive his Supplemental tax bill that soon and thought it quite unusual. So, I pressed the conversation, more.

Joe repeatedly told me that the tax bill he received was called Transfer Tax and not Supplemental. I asked if he was sure about the name TRANSFER TAX. Joe was certain that this bill was called Transfer Tax and it was in the amount of $1300 +. The amount was a dead give away...Joe was correct it was the Transfer Tax.

The kicker here is that Joe should not have been getting a bill for the Transfer Tax. This bill is paid during escrow by the Title Company. I told Joe, I would take care of it and get back to him in the morning.

To find out what happened with this Midtown First Time Home Buyer, you will be redirected to Sacramento Real Estate.

Comments(17)

Vicky Poe
Good Ole Rocky Top - Crossville, TN
Realtor/ Auctioneer
It is not just first time home buyers that have this sort of confusion.  There is too much going on during closing to remember all that they are being told.
Oct 08, 2007 01:22 PM
Gena Riede
Riede Real Estate, Lic. 01310792 - Sacramento, CA
Real Estate Broker - Sacramento CA Real Estate (916) 417-2699
Vicky, very true. This article of course was about Joe and he was a First Time Home Buyer but it would apply to any Home Buyer.
Oct 08, 2007 01:53 PM
Jeannette Morrison
Cedar Park,Leander,Georgetown & Lake Travis Areas. - Cedar Park, TX
Central Texas Real Estate, NW Austin, Round Rock

Gena,

Thank you for alerting us all to this possibility!  -You are still looking out for your clients -even after the deal!

Oct 08, 2007 02:09 PM
Ginger Wilcox
Sindeo - San Francisco, CA
Even experience buyers get confused when they get their tax bills.  Thankfully he had you around to get to the bottom of it!
Oct 08, 2007 02:32 PM
Cyndee Haydon
Charles Rutenberg Realty - Clearwater, FL
727-710-8035 Clearwater, Beach Short Sales Luxury Condos &Homes
Gena - you are so right - I was looking for you today :-) for helpful articles for buyers! This sure looks like what I was looking for  
Oct 08, 2007 02:39 PM
Brad Andersohn
Retired Executive Director of Education at eXp - Boulder Creek, CA
ActiveBrad - 707.646.1876
Hi Gena - I thought by your title that this was going to say "No Payment Till 2008" and I suppose you could probably work that out too!  You're the rockingest Realtor in ALL Sacramento!  Hope all is well!!  :-)
Oct 08, 2007 09:37 PM
Ann Cummings
RE/MAX Shoreline - NH and Maine - Portsmouth, NH
Portsmouth NH Real Estate Preferrable Agent

Hi Gena - I left my comment on your other blog, but will leave part of it here.  Did you find out just who it was that sent your buyer that bill?  I think I'd look into that and find out just why it was done.  Those taxes are paid here out of the closing as well, and if one of my buyers had received a bill like that, i'd looking to find out why.  Maybe there's a new type of scam going on, and maybe you could help thwart it but following up on the origin of that bill.

Good for you for helping Joe out!
Ann

Oct 08, 2007 11:35 PM
Gena Riede
Riede Real Estate, Lic. 01310792 - Sacramento, CA
Real Estate Broker - Sacramento CA Real Estate (916) 417-2699

Jeannette, yes I always keep in contact with past clients. With new home owners I try to get around to them more often just in case something like this occurs.

Ginger, yes you are absolutely right. All homeowners do have questions. That's why it's a good idea to follow-up with your clients on a regular basis.

Cyndee, glad to be of service. It's amazing what information together we have to offer that when compiled is spectacular!

Oct 09, 2007 04:11 AM
Gena Riede
Riede Real Estate, Lic. 01310792 - Sacramento, CA
Real Estate Broker - Sacramento CA Real Estate (916) 417-2699

Brad, well thank you. Yes, just working my you know what off...

Ann, very good point. The scam scenario is certainly a valid concern however, in this case it is merely an oversight on the part of the County. As you know information is only as good as the person inputting or in this case not inputting.

Oct 09, 2007 04:14 AM
Roberta Murphy
San Diego Previews Real Estate - Carlsbad, CA
Carlsbad Real Estate and Homes
Gena: You are gifted with eagle eyes. Your clients are lucky to have you on board!
Oct 09, 2007 04:30 AM
Gena Riede
Riede Real Estate, Lic. 01310792 - Sacramento, CA
Real Estate Broker - Sacramento CA Real Estate (916) 417-2699
Roberta, thank you. Joe was excited! Maybe this means I'll get another DINNER!
Oct 09, 2007 11:36 AM
Jennifer Steck
Rocky Mountain Homescapes, Keller Williams, Denver Colorado - Denver, CO
Denver Real Estate
Gena- A woman after my own heart. I love the restaurant information included in the article. Thank goodness Joe talked to you about it. Another satisfied client.
Oct 09, 2007 12:13 PM
Gena Riede
Riede Real Estate, Lic. 01310792 - Sacramento, CA
Real Estate Broker - Sacramento CA Real Estate (916) 417-2699

Jennifer,the food was just the best. Joe is so funny, we plan on trying all the restaurants in Midtown and he knows how I love taking pictures so he lets me have my space to get some photo opts. Be expecting an article about Midtown soon with all my luscious desserts!!

Oh yes, in fact I talked to Joe this morning who is on a business trip in Texas and he is quite pleased...a happy camper!

Oct 09, 2007 12:19 PM
Rick Grand
nowhere - Eugene, OR
ooooh....I'm off to read your other blog now!
Oct 09, 2007 03:50 PM
Gena Riede
Riede Real Estate, Lic. 01310792 - Sacramento, CA
Real Estate Broker - Sacramento CA Real Estate (916) 417-2699
Rick, glad you liked you...from the other side.
Oct 10, 2007 03:08 AM
Jacqulyn Richey
Prominent Realty Group - Las Vegas, NV
Las Vegas Real Estate
Hmm...an oversight. Funny how the government never seems to make errors in your favor! Good catch too, by the way. -Charles
Oct 15, 2007 06:13 AM
Gena Riede
Riede Real Estate, Lic. 01310792 - Sacramento, CA
Real Estate Broker - Sacramento CA Real Estate (916) 417-2699
Charles, yes Joe was exceptionally glad and you're right...amazing how they never seem to make mistakes in our favor!
Oct 16, 2007 03:43 AM