Taxes, Assessments, and Prorations

Buyer and Seller Costs at Closing

ITEMS PRORATED

The following items are prorated to include the date of Closing:

  1. General ad valorem taxes for the current calendar year
  2. Homeowner’s Association assessments and dues

ITEMS PAID BY THE SELLER AT CLOSING

The following items are paid by the Seller at Closing:

  1. All governmental and municipal special assessments against the Property (matured or not matured)
  2. Documentary Stamps
  3. All utility bills, actual or estimated
  4. All taxes other than general ad valorem taxes which are or may become a lien against the Property
  5. Any labor, materials, or other expenses related to the Property incurred prior to Closing which is or may become a lien against the Property.

LEASES ASSIGNED TO BUYER

At Closing all leases, if any, will be assigned to the Buyer and security deposits, if any, will be transferred to the Buyer. Prepaid rent and lease payments will be prorated through the date of Closing.

MEMBERSHIPS AND METERS

If applicable, membership and meters in utility districts, including, but not limited to, water, sewer, ambulance, fire, and garbage, will be transferred at no cost to the Buyer at Closing.