May 23, 2012

Adjustments At Closing

Question: We are selling our home and have prepaid our property taxes through June -- two months from now. How do we get this money back?

Answer: A sale agreement should contain a clause that deals with "adjustments." The prepaid property tax, for example, should be a credit to you at closing and a cost to the purchasers. Please review your sale agreement to see how this is handled.


Written by Peter G. Miller.

© 1997 Peter G. Miller. All Rights Reserved. Rules, Disclaimers & Notices.


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