Your Realtor For Life!
So that's it... you have closed and I am done with you! Nope! It is my hope that I can be your Realtor for life. Everything that has to do with your home, I want to be a part of it. Whether that be tax appeals or finding the right handyman... please make me and my team your "go-to" resource.
We will follow up with you after closing to make sure everything is going smoothly. We will add you to our mailing list and email list. We will hold your hand as long as you need it! All we ask is a little constructive feedback so we can do our job even better the next time.
Rule Team client feedback/survey
Once we close or even at the closing table, I will present you with a letter of appreciation, a CD with all our previous documents and a form for you to provide my team with your feedback. We use this feedback constructively and we ALWAYS appreciate honesty, whether it is what we want to hear or not. Let us have it! If an online survey is more your speed, we will email you a quick link to our online survey for a quicker response.
Property tax exemptions
In Indiana, we pay property taxes on our homes. The amount of that tax is calculated by multiplying the ‘assessed value’ of your home times the tax rate for the home’s specific area. The assessed value of your home is not the appraised value or the purchase price. It should reflect market value but in many cases does not. If the value is too low, remember that it could increase to market value and thereby increase your taxes. If the value is too high, you can appeal the value but the backlog of tax appeals could leave you seeking your appeal for more than a year.
The assessed value that is used to calculate your tax rate is actually the net (as opposed to gross) assessed value. It is calculated by subtracting exemptions from the gross assessed value of your home. Exemptions are amounts that were negotiated by the legislature to provide certain individuals reductions in their taxes. The largest groups that receive these exemptions are individuals who live in their homes and individuals who have mortgages on their property. These exemptions are called the homestead and mortgage exemption respectively. If you own a property that you do not live in (ie. An investment property) or if you do not have a mortgage, you would not qualify for one or both of these exemptions. The homestead exemption subtracts $45000 from the gross assessed value of your home (or ˝ of the assessed value of the home whichever is less). The mortgage exemption subtracts $3000 from the value of your home. In other words if you buy a home that is assessed at $100,000, which you intend to live in and have a mortgage on, you would pay the same taxes that someone who owns a home assessed at $62,000 that does not live in their home or have a mortgage on it.
Your first mortgage payment
In normal situations, your first mortgage payment is due on the first day of the month in the month two months after closing. In other words if you close in January, your first monthly payment will be due in March or if you close in October your first monthly payment will be due in December. You will likely receive a payment ‘coupon’ at closing for your first payment. You may or may not receive a coupon booklet from your lender for subsequent payments. Regardless of this it is important to add your monthly payment to your routine.