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 seller 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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Tammy Fariss is a licensed real estate broker in the state of Texas and all agents affiliated with Tammy Fariss, Realtors are licensed sales agents in the State of Texas