Escrow & Title
In an Oklahoma closing, prorations are calculated to ensure that:
AThe broker receives the correct commission
BRecurring expenses such as property taxes and prepaid rent are fairly divided between buyer and seller based on the closing date✓ Correct
CThe lender's fees are split equally
DTitle insurance is allocated between parties
Explanation
Prorations adjust the buyer's and seller's shares of ongoing expenses (property taxes, HOA dues, prepaid rents) based on the closing date so that each party pays only for their period of ownership.
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