FAQs After Your Real Estate Purchase Closing
Congratulations on buying a new home!
Here are the top FAQs we get from clients after purchase closings:
Q1. I received a property tax bill. Should I pay it?
A1. Check with your lender first to see if you opened an escrow account. If you opened an escrow account to pay property taxes, then do not double pay your tax bill. You can verify with your lender and/or the County to ensure it is timely paid.
Q2. I received my Deed to the house. What should I do with it?
A2. Store the Deed in a fire-proof place. If you ever lose it, it is not detrimental as a certified copy can be obtained from the County Recorder.
Q3. I received a notice of reassessment of property taxes from the County. Do I have to do anything?
A3. No, you don’t, but you can contest your new assessed value if you choose. Go online at the County Assessor’s website to learn how to contest your reassessed value.
Q4. I received a notice from “Records Recovery” or other company asking me to pay for records about my new house or a copy of my deed.
A4. This is a scam. You already are receiving a copy of your Deed after closing and this company is preying on consumers to pay for a copy of the deed you already have, or could get without having to pay this company.
Q5. How do I apply for homeowner’s exemption or senior’s exemption or freeze?
A5. Go to the County Assessor’s website and click on exemption forms. Print, complete it, sign it and mail it in.
Q6. I received a home warranty at closing and now a property defect has come up since the closing. Is it covered under my warranty?
A6. Check the language in the warranty you received and/or call the home warranty company to see if it is covered.