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Tax Closing Costs
Property Taxes
This is the one closing cost that is often prorated between the buyer and seller. If the seller has already paid the annual property taxes, the buyer typically reimburses the seller for the period in which the buyer will be occupying the property. Likewise, if the taxes have not yet been paid, the seller typically reimburses the buyer for the period in which the seller occupied the property.
Transfer Taxes and Recording Fees
This is the cost for transferring ownership of the property and recording the purchase documents. The fee is often calculated as a percentage of the sales price.
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Chip Lake
Home Hero Mortgage Advisor
SC 843.216.9962
SC Fax 843.216.9964
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or fitness for particular use".
ChipLake.com is an Equal Housing Lender. We conduct business in accordance with the Federal Fair Housing Act and the Equal Credit Opportunity Act. It is our corporate policy to ensure that in each of our residential real estate finance transactions, no person is discriminated on the basis of their race or color national origin, religion, gender, marital and familial status, handicap, or age."
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