Escrow & Title
What is 'proration' at a Delaware real estate closing?
AThe allocation of the broker's commission between brokers
BThe division of ongoing expenses (taxes, rents, HOA fees) between buyer and seller based on the closing date✓ Correct
CThe calculation of transfer taxes due at closing
DThe adjustment of the purchase price after the inspection
Explanation
Proration at closing involves dividing ongoing expenses such as property taxes, prepaid rents, and HOA dues between buyer and seller based on the proportion of time each owned the property during the billing period.
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