http://closingchicagorealestate.com/672/sellers-attorney-practice-tip-show-your-work-regarding-prorations/ Close Your Deals and Build Your Real Estate Business in the Second City and Beyond... Tue, 31 Aug 2010 21:04:23 +0000 hourly 1 http://wordpress.org/?v=3.0 http://closingchicagorealestate.com/672/sellers-attorney-practice-tip-show-your-work-regarding-prorations/comment-page-1/#comment-1087 Moshe Sun, 28 Jun 2009 03:55:20 +0000 http://closingchicagorealestate.com/?p=672#comment-1087 Success? Success?

]]> http://closingchicagorealestate.com/672/sellers-attorney-practice-tip-show-your-work-regarding-prorations/comment-page-1/#comment-1031 Tanya Thu, 25 Jun 2009 15:00:36 +0000 http://closingchicagorealestate.com/?p=672#comment-1031 In Florida and some other states, the parties sign a tax proration agreement at closing which provides that when the next tax bill is received, it will be prorated based upon the days the seller was the owner and if the estimated proration at closing was too low, the seller will pay the accurate, exact amount. Is anyone using tax proration agreements in Chicago? It allows the buyer to receive an accurate proration and not just an estimate of 110% of last year's bill. It is the only way to have a truly accurate and fair proration. In Florida and some other states, the parties sign a tax proration agreement at closing which provides that when the next tax bill is received, it will be prorated based upon the days the seller was the owner and if the estimated proration at closing was too low, the seller will pay the accurate, exact amount. Is anyone using tax proration agreements in Chicago? It allows the buyer to receive an accurate proration and not just an estimate of 110% of last year’s bill. It is the only way to have a truly accurate and fair proration.

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