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URL:https://www.learndesk.us/class/4746122453057536/lesson/ab27f8198ebb2d2d954e2365877ca6fa?ref=outlook-calendar
SUMMARY:Rules of Thumb
DTSTART;TZID=America/Los_Angeles:20260527T190000
DTEND;TZID=America/Los_Angeles:20260527T200000
LOCATION:https://www.learndesk.us/class/4746122453057536/lesson/ab27f8198ebb2d2d954e2365877ca6fa?ref=outlook-calendar
DESCRIPTION: 
Seller credits and debits
Buyer credits and debits

Rules of thumb concerning who pays what are customary practices, not legally prescribed.
Seller credits and debits
Credits. Sellers are customarily credited for
 prepaid items  purchase price
Debits. The seller’s debits customarily include
 prorated property tax  documentary stamp tax on deed  owner’s title insurance policy  deed preparation  seller’s attorney fees  broker’s commission (if hired by the seller)  mortgage loan payoff  prorated prepaid rent  tenant’s security deposits
Buyer credits and debits 
Credits. Buyers are customarily credited for
 prorated property tax  earnest money deposit  prorated prepaid rent  tenant’s security deposits  new mortgage loan proceeds
Debits. The buyer’s debits customarily include:
 purchase price  documentary stamp tax on the new note  lender’s title insurance policy  intangible tax on a new mortgage
 mortgage and note...

https://www.learndesk.us/class/4746122453057536/lesson/ab27f8198ebb2d2d954e2365877ca6fa?ref=outlook-calendar
STATUS:CONFIRMED
SEQUENCE:3
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