Business, 18.12.2019 02:31 montgomerykarloxc24x

Prorate using a 30-day month and a 360-day year, prorate the taxes as of the close of escrow, and split the escrow fee 50-50 between the parties. closing is july 31. use these relevant facts:

purchase price: $25,000 cash
earnest money: $1,000
commission rate: 7%, split 50-50
revenue stamps: $25
real estate taxes: $350 (paid in full for current tax year of jan. 1 through dec. 31)
water bill: $90 (six months paid to sept. 15)
title insurance: $153.51
recording fee: $2
escrow fee: $168
loan balance: $9,450 (existing loan, including credit for the reserve account)

what amount is the buyer debited for the real estate taxes?

a.$145.83
b.$146.71
c.$202.19
d.$203.30

Answers: 2

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Prorate using a 30-day month and a 360-day year, prorate the taxes as of the close of escrow, and sp...