Common use of FOR RECENT CONSTRUCTION ONLY Clause in Contracts

FOR RECENT CONSTRUCTION ONLY. If the tax rate and/or assessment for taxes is not available, Seller will give a tax credit of $ to Buyer at closing. If the tax rate and/or assessment for taxes is available prior to the Closing Date, then paragraph B shall apply. WARNING: The succeeding year tax xxxx for recently constructed homes or following reassessment periods may greatly exceed the last tax xxxx available to the closing agent.

FOR RECENT CONSTRUCTION ONLY. If the tax rate and/or assessment for taxes is not available, Seller will give a tax credit of $ to Buyer at closing. If the tax rate and/or assessment for taxes is available prior to the Closing Date, then paragraph B shall apply. WARNING: The succeeding year tax xxxx bill for recently constructed homes or following reassessment periods may greatly exceed the last tax xxxx bill available to the closing agent.