5 Ways Rich People Save Money on Real Estate Transactions | Andrew Lieb

Closing Adjustments: Sellers get repaid at the closing for all of their prepaid service contracts and supplies that they transfer to the purchasers. To do this, sellers identify each contract that they have prepaid for the carrying costs of their home. Next, sellers create a per diem cost allocation for each particular contract and multiply that cost by the days remaining on the contract on the closing date. Examples of contracts that sellers locate for adjustment purposes include: Fuel contracts such as propane and oilWater contractsReal estate town and village taxesCondominium / cooperative common / maintenance chargesPool service contractsTick and mosquito control contractsGardening cont