Contracts
Maine's standard purchase and sale agreement typically provides for 'prorations' at closing. Prorations adjust for:
AThe commission owed to the listing agent
BItems like property taxes, rent, and fuel oil prepaid or owed by the seller or buyer✓ Correct
CThe cost of required repairs
DTransfer tax amounts between buyer and seller
Explanation
Prorations ensure fairness by adjusting prepaid or accrued items (property taxes, prepaid rents, fuel oil in the tank, HOA dues) so each party pays only for their period of ownership.
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