Escrow & Title
At a North Dakota real estate closing, 'prorations' typically involve:
ADividing the real estate commission between brokers
BAllocating ongoing property expenses (like taxes and HOA fees) between buyer and seller based on the closing date✓ Correct
CCalculating the lender's origination fee
DSplitting title insurance costs
Explanation
Prorations at closing divide ongoing expenses such as property taxes, prepaid insurance, and HOA dues between buyer and seller based on their respective periods of ownership, using the closing date as the dividing point.
Related North Dakota Escrow & Title Questions
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