Wednesday, June 8, 2011

My Headache Today Can Help Homebuyers Avoid One in the Future!

Don’t you hate when you forget the simple things? Like this morning, I have all my vitamins and allergy medications set out to take first thing when I wake up but today I realized at noon, I hadn’t taken them. No biggie…except for the generic Allegra that keeps away sinus headaches. By lunchtime it was too late and the headache had already started. Oh well, it won’t last for too long.
This reminds me of a rather expensive headache that a homebuyer could experience if they don’t take care of the simple things in a timely manner. Filing for homestead is a very simple process. It is a matter of taking the paperwork to the county offices prior to December 31 and dropping it off. It doesn’t even cost anything. But it does take a bit of time out of your crazy moving-in day.
The closer often cautions the buyer to head to the county offices immediately but moving day is busy. Some buyers, especially in the summer months, will opt to wait a few days, or weeks. After all, they have MONTHS before the paperwork has to be filed.
This can be a bad choice. Remember I said moving day is busy right? It is also a very confusing time with boxes, bags and furniture being unloaded. Paperwork can be misplaced and forgotten but unlike my allergies, forgetting to file homestead means a bigger headache (i.e. higher property taxes). And, unlike my headache, this cannot be resolved in a matter of hours. The higher taxes will last an entire year!
So remember to file the homestead paperwork as quickly as you can after closing on your new home and avoid that HUGE tax headache!

Copyright 2011