On the day of closing a real estate sale, existing property taxes and insurance are
A) left as is.
B) paid by the bank out of the reserves.
C) prorated.
D) paid in full by the seller.

Name: On the day of closing a real estate sale, existing property taxes and insurance are A) left as is. B) paid by the bank out of the reserves. C) prorated. D) paid in full by the seller.
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Question

Quizplus · Accepted Answer

Existing property taxes and insurance are prorated on the day of closing a real estate sale.

On the Day of Closing a Real Estate Sale, Existing