IK Financial Metarials
Mortgage Glossary

Mortgage 101 - Prepaid Property Tax and Utility Adjustments

Prepaid Property Tax and Utility Adjustments
The amount you will owe if the person selling you the home has prepaid any property taxes or utility bills. The amount to reimburse them will be calculated based on the closing date.
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The most common fees that buyer may face on the closing date are:
🔹Property taxes
🔹Utilities
🔹Condo fees
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