Tag

pro rata

Fall Closings & Minnesota Property Taxes

But First . . . a Brief History Lesson I don’t know about other states ” I’m only licensed to sell real estate in Minnesota ” but here, residential property taxes are due twice a year:  May 15 and October 15. Those non-randomly chosen dates stretch back to when Minnesota’s economy ” like practically every...
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May Closings & (Minnesota) Property Taxes

But First . . . a Brief History Lesson I don’t know about other states — I’m only licensed to sell real estate in Minnesota — but here, residential property taxes are due twice a year:  May 15 and October 15. Those non-randomly chosen dates stretch back to when Minnesota’s economy — like practically every...
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Credit @ Closing From the Seller? “Thanks, But No Thanks”

Unpaid Property Taxes:  When Credits are Bad and Debits are Good Normally, credits (getting money) at closing is good, while paying money (debits) at closing is bad. When is that not the case? When the Buyer is getting a credit at closing from the Seller for the Seller’s pro rata share of the property taxes...
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