Closing Costs - Items Not to be Prorated Sample Clauses

The "Closing Costs - Items Not to be Prorated" clause defines which specific costs or expenses associated with the closing of a real estate transaction will not be divided between the buyer and seller based on the date of closing. Typically, this clause lists certain fees, such as loan origination charges or inspection costs, that are to be paid entirely by one party rather than split proportionally. Its core function is to provide clarity and prevent disputes by explicitly stating which closing costs are excluded from proration, ensuring both parties understand their financial responsibilities at settlement.
Closing Costs - Items Not to be Prorated. The Closing Agent shall not prorate the following expenses: (a) Payment of special assessment district bonds and assessments. These items shall be paid current by Seller, but payments not yet due and owing shall be assumed by Buyer without credit from Seller toward the Total Purchase Price; and (b) Insurance premiums. Seller cannot endorse or assign existing insurance policies (if any) to Buyer, and Seller reserves the right to cancel any existing insurance on the Property as of the Closing Date.
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Related to Closing Costs - Items Not to be Prorated

  • 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;

  • Closing Costs The costs attributed to the Closing of the Property shall be the responsibility of ☐ Buyer ☐ Seller ☐ Both Parties. The fees and costs related to the Closing shall include but not be limited to a title search (including the abstract and any owner’s title policy), preparation of the deed, transfer taxes, recording fees, and any other costs by the title company that is in standard procedure with conducting the sale of a property.

  • CLOSING COSTS AND ADJUSTMENTS All adjustments are made as of settlement date.

  • PAYMENT OF CLOSING COSTS In addition to the costs set forth in Paragraphs 3.1 and 3.2, Purchaser and Seller shall each pay for one-half of the costs of the documentary or transfer stamps to be paid with reference to the "Deed" (hereinafter defined) and all other stamps, intangible, transfer, documentary, recording, sales tax and surtax imposed by law with reference to any other sale documents delivered in connection with the sale of the Property to Purchaser and all other charges of the Title Insurer in connection with this transaction.

  • Training Costs All costs and expenses incurred by the Contractor in the training of its employees engaged in Petroleum Operations, and such other training as is required by this Agreement.