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For selling of a home it's asking me about Sales Expenses, there's a line on my documents that is labeled "Prorations", is the amount included as Sales Expenses?
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For selling of a home it's asking me about Sales Expenses, there's a line on my documents that is labeled "Prorations", is the amount included as Sales Expenses?
Prorations are usually an adjustment to taxes between the seller and any other property related fees paid by the seller that will carry forward after closing to the buyer such as prepaid condo/association fees. These are not selling expenses.
Sales expenses include:
- commissions
- appraisal fees
- broker's fees
- legal fees
- advertising fees
- home inspection reports
- title insurance
- transfer taxes or fees
- geological surveys
- loan charges (points) or other fees paid on the buyer's behalf
- Mark as New
- Bookmark
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For selling of a home it's asking me about Sales Expenses, there's a line on my documents that is labeled "Prorations", is the amount included as Sales Expenses?
Prorations are usually an adjustment to taxes between the seller and any other property related fees paid by the seller that will carry forward after closing to the buyer such as prepaid condo/association fees. These are not selling expenses.
Sales expenses include:
- commissions
- appraisal fees
- broker's fees
- legal fees
- advertising fees
- home inspection reports
- title insurance
- transfer taxes or fees
- geological surveys
- loan charges (points) or other fees paid on the buyer's behalf
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