The money that both buyers and sellers credit to each other at closing, including the down payment and taxes.
Amount of property taxes, council and water rates prepaid by the vendor and adjusted at settlement for amounts for which the purchaser will be liable.
extra funds paid into the loan over and above the minimum prescribed repayments. the process of allocating expenses (Council, electricity, phone, water rates) has paid for but not used, and which the buyer has not used but will be billed.
Property taxes, mortgage interest and/or utility bills (electricity, gas, fuel) that have already been paid out by the vendor for future service and must be pro-rated and paid by the purchaser to the vendor on closing.
working out expenses - such as electricity and phone charges - that the vendor has paid for but not used, and which the buyer has not used but will be billed for. Done on settlement day.
Process of allocating expenses on settlement day that the seller has paid for but not used and which they buyer has not used but will be responsible for (e.g. council rates, utility, phone bills)
The process of allocating expenses on settlement day that the seller has paid for but not used and those that the buyer will be billed for but has not used. Examples are: phone, electricity, council and water rates.
The portion of property expenses such as taxes, council and water rates paid in advance by the vendor for which the purchaser may be liable.
Money that the buyer and sellers credit each other at the time of closing. Often includes taxes and down payment..
Money that both buyers and sellers credit to each other at closing, including taxes and down payment.
The apportionment or other division of costs between buyer and seller as of the closing date.
In real estate sales, the changes made to the selling price to account for the advantages and disadvantages of the subject property, market conditions etc. When closing a real estate transaction, the changes to the purchase price made as a result of realty taxes over- or under-paid by the Vendor, fuel oil provided, tenant's rental payments etc. (Contained on the Statement of Adjustments).
Money credited to either/both buyer and seller at closing, including real estate taxes, price adjustments based on disclosures in the inspection, etc.
Money credited or debited to either/both buyer and seller at closing, including real estate taxes, association fees, garbage fees, rents, etc.
Expenses like property taxes and utilities that have been prepaid by the seller and need to be pro-rated and charged to the purchaser.
Any money that the buyer and seller "credit" each other at closing, such as taxes, down payments, etc.
The process of allocating expenses for Local Body Rates, water rates, on settlement day that the vendor has already paid for but has not used. These expenses will be billed to the purchaser on settlement and be on the purchaser's statement from their solicitor.
Property taxes and/or utility bills and condominium common expenses, if any, that have been prepaid by the vendor are pro-rated and paid by the purchaser to the vendor on closing.
Those items of a financial nature which are to be settled between the parties as of the Adjustment Date. The usual items for adjustment are annual property taxes, water rates, local utilities, garbage removal, Strata Fees, Interest on assumed mortgages, and rents, but can also include fuel in a tank, prepaid cable services, insurance, and any other item for which one or the other of the parties should be compensated before the transaction is fully completed. See Statement of Adjustments
The process of allocating expenses (Council, electricity, phone, water rates) on settlement day that the seller has paid for but not used, and which the buyer has not used but will be billed for.
Amounts payable to a party at closing, usually the Purchaser pays the Seller, for certain costs that have been paid prior to closing, such as real estate taxes, fuel oil and common charges. If an amount is due and owing prior to closing, but was not paid, the Seller would pay the Purchaser for same at closing.
The debits and credits between a buyer and seller to precisely adjust the dollar amounts for the closing for such items as real estate taxes, fuel oil, water and sewer use charges, etc.