Escrow & Title
What does 'prorating' at closing in South Carolina mean?
ACalculating the agent's commission percentage
BDividing ongoing expenses (like taxes and HOA dues) between buyer and seller based on the closing date✓ Correct
CThe attorney's fee calculation process
DDiscounting the purchase price for defects found during inspection
Explanation
Prorating divides periodic expenses (property taxes, HOA dues, prepaid rents, insurance) between buyer and seller based on when each party owned the property during the payment period.
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