Contracts
When calculating prorations at closing in Georgia, the closing day is traditionally charged to:
AThe seller
BThe buyer✓ Correct
CSplit equally between buyer and seller
DNeither party
Explanation
In Georgia, the closing day is typically charged to the buyer (buyer owns the property as of the day of closing). The seller is responsible through the day before closing.
Related Georgia Contracts Questions
- A 'novation' in Georgia replaces:
- The concept of 'time is of the essence' in a Georgia real estate contract means:
- Under the GAR form, the 'Closing Date' is the date when:
- If a seller defaults on a GAR Purchase and Sale Agreement, the buyer may:
- Which of the following is required for a valid real estate contract in Georgia?
- A 'release of contingency' in a Georgia Purchase and Sale Agreement means the buyer:
- Liquidated damages in a real estate contract are:
- Under Georgia contract law, which element is NOT required for a valid real estate contract?
Practice More Georgia Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Georgia Quiz →