Common use of Prorations and Closing Costs Clause in Contracts

Prorations and Closing Costs. Seller will pay real estate excise taxes (if any are due) and the full first half or second half real property tax installment due and owing, as determined by the Date of Closing. Seller will receive a prorated refund directly from King County Treasury Operations for the number of days post-Closing for the applicable installment period. Buyer will pay the premium for its owner’s title insurance policy, the cost of recording the Statutory Warranty Deed from the Seller, and the Closing Agent’s escrow fees.