Property Taxes
This is the one closing cost that is often prorated between the buyer and seller. If the
seller has already paid the annual property taxes, the buyer typically reimburses the
seller for the period in which the buyer will be occupying the property. Likewise, if the
taxes have not yet been paid, the seller typically reimburses the seller for the period in
which the seller occupied the property.
Transfer Taxes and Recording
Fees
This is the cost for transferring ownership of the property and recording the purchase
documents. The fee is often calculated as a percentage of the sales price. |
