Closing Costs and Prorations Clause Samples
The "Closing Costs and Prorations" clause defines how expenses related to the sale of a property are divided between the buyer and seller at the time of closing. It typically specifies which party is responsible for paying various fees, such as title insurance, transfer taxes, and recording charges, and outlines how recurring costs like property taxes, homeowner association dues, or utilities are prorated based on the closing date. This clause ensures a fair and transparent allocation of financial responsibilities, preventing disputes by clearly stating who pays for what and how shared costs are calculated.
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Closing Costs and Prorations. Taxes and assessments for the current year, if any, shall be prorated between the prior owner of the Personal Property and Buyer as of the date of closing. Seller shall pay one-half (½) of Closing Agent’s closing and escrow fees. Buyer shall pay one-half (½) of Closing Agent’s closing and escrow fees. In addition, Buyer shall pay all other closing costs, including but not limited to: (1) recording fees for the cost of recording the State Deed; (2) the cost for any title insurance purchased at Buyer’s option; (3) lender fees, if any, together with all associated recording fees, if any; and (4) any other cost, fee, or expense which may be reasonably required in order for the transaction to close.
Closing Costs and Prorations. Buyer will pay all closing costs, including but not limited to: attorney fees, deed preparation, deed recording, deed stamps, survey (if required), mortgage fees, or any other fees or expenses required to close the transaction. All prepaid rents, real property taxes, and other public charges assessed or to be assessed for the year in which this transaction is consummated shall be prorated between Seller and Buyer to the date of closing.
Closing Costs and Prorations. At the Closing, closing costs shall be paid and prorations made as follows:
Closing Costs and Prorations. Seller shall pay all customary and usual closing costs 82 paid by Sellers of Real Estate in ▇▇▇▇▇▇▇ County, Washington, including title insurance premiums, excise 83 tax, one-half of document preparation, one-half of the escrow fees, survey fees, if any, real estate 84 commission and pro-ratable items. Buyer shall pay all customary and usual closing costs paid by buyers of 85 real estate in ▇▇▇▇▇▇▇ County, Washington, including recording fees, one-half of document preparation, 86 one-half of escrow fees, pro-ratable sales or use tax, if applicable.
Closing Costs and Prorations a. All general and special taxes, rollback taxes, if any, and assessments against the Property for all periods prior to the Closing Date shall be paid by Seller at or prior to Closing. The amount of such taxes shall be estimated based on information provided by the Utah County Assessor for the parcel or parcels of which the Property is a part, the "Assessed Parcel.” Seller and Buyer shall each pay their own legal expenses in connection with this Transaction.
b. Buyer shall pay the cost of a standard coverage owner’s policy of title insurance. Unless otherwise agreed by the parties in writing, ▇▇▇▇▇ shall pay all other closing costs including, but not limited to charges and fees assessed by Closing Agent.
Closing Costs and Prorations. Buyer shall pay all other closing costs, including but not limited to: (1) recording fees for the cost of recording the State Deed; (2) the cost for any title insurance purchased at Buyer’s option; (3) lender fees, if any, together with all associated recording fees, if any; and (4) any other cost, fee or expense which may be reasonably required in order for the transaction to close.
Closing Costs and Prorations. Seller shall pay (a) all county and state transfer and conveyance taxes assessed in connection with the Closing and recording the Deed, and all recording costs for recordation of the Deed, the Crane Easement, and any easements, covenants, and restrictions contemplated under this Agreement or necessary to remove, correct, or remedy, the Title Objections which Seller is obligated to resolve, (b) any endorsements to the Title Policy, if any, necessary to cure Title Objections, (c) the cost of preparation and recording of the Plat, and (d) one half (½) of the Title Company’s closing fee in connection with this transaction. Purchaser shall pay (i) the cost of the Title Commitment and the Title Policy, (ii) the cost of the Survey, and (iii) one half (½) of the Title Company’s closing fee in connection with this transaction. Seller shall be responsible for and pay all past due taxes at or prior to Closing. Taxes and installments of special assessments for the year of Closing shall be prorated as of the date of Closing on a calendar year basis and shall be based on taxes coming due and payable in the calendar year of Closing. If the actual assessed value or tax rate for any taxes or assessments are not known on the date of Closing, the taxes shall be prorated based upon the most recently published tax rates and assessments for the Property. Should Seller appeal or begin the appeal process for any taxes or fees for any time period prior to the Closing, Seller shall be entitled to such funds should Seller’s appeal be successful. Seller shall be solely and exclusively responsible for payment in full of all special assessments against the Property due prior to Closing, if any. Other regular and customary costs and expenses related to the Property shall also be prorated based on the date of Closing, including, without limitation, water, sewer, utility charges and other payables. To the extent appropriate for the adjustment of the foregoing amounts to achieve the requirements of this Section 9, the terms of this Section 9 shall survive Closing. Each Party shall pay its own attorneys’ fees in connection with this transaction.
Closing Costs and Prorations. Buyer shall pay all escrow costs and fees, all Title Company costs and fees, Title Insurance premiums, recording fees, transfer taxes and all closing costs and fees. Each party shall bear its own attorney’s fees incurred in connection with this transaction. Real property taxes, premiums on insurance acceptable to Buyer, and any other expenses of the Property shall be prorated as of the Closing Deadline. The amount of any bond or assessment which is a lien shall be assumed by Buyer.
Closing Costs and Prorations. All recording fees, escrow fees, and other closing costs (except documentary transfer taxes as provided in Section 3.5(c) above) shall be allocated according to custom and practice based on the location of the Property. All income and expenses of the Property shall be prorated according to custom and practice based on the location of the Property.
Closing Costs and Prorations. Taxes and assessments for the current year, if any, shall be prorated between the prior owner of the Improvements and Buyer as of the date of closing. Seller shall pay one-half (½) of Closing Agent’s closing and escrow fees for sale of the land. Buyer shall pay one-half (½) of Closing Agent’s closing and escrow fees for the purchase of the land. In addition, Buyer shall pay all other closing costs, including but not limited to: (1) closing agent’s closing and escrow fees for purchase of Improvements; (2) recording fees for the cost of recording the State Deed and Bill of Sale; (3) the cost for any title insurance purchased at Buyer’s option; (4) lender fees, if
