Escrow & Title
When real estate closing costs are prorated, the standard method used in most Alabama transactions is:
A365-day method or 360-day banking method, as agreed by the parties✓ Correct
BOnly the 30-day banking method
CA flat split between buyer and seller
DAs required by AREC regulations
Explanation
Proration can be calculated using the actual 365-day method or the 360-day banking method — the method used is typically specified in the purchase contract.
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