If you have a transaction that is currently in escrow or escrow is about to be opened, the following information may be important.
1. Contact your escrow officer or title company to find out if the property taxes are unpaid or paid. If there are any steps that are required they will be able to guide you.
2. If a tax payment is currently due, but not yet paid, contact your escrow officer prior to making any payment to the county.
3. Any installment of a new tax bill can be paid from the proceeds of a sale at the close of escrow. However, there will be at least a 10% penalty if escrow closing is after the delinquency date.
4. If either or both payments cannot be verified but seller claims they were paid, seller will have to provide written evidence of payment.
5. If the lender has an impound account, taxes will be paid from that account prior to the delinquency date. Note that if the loan is paid prior to the tax’s due date, the lender will return any funds in your impound account directly to you after the loan is paid in full.