Common Seller Fees

Some of the more common fees associated with the sale of a home include a Pro-ration for taxes. Taxes are paid in arrears for El Paso County. The time you are living in your home for the current year will be pro-rated through your closing date.  This amount will be deducted from your sale proceeds and credited to the Buyer in order to pay the taxes in the upcoming year. The new Buyer will be responsible for paying the entire prior year taxes at that time. This will include the time in which the Buyer lived in the home during the current year and the pro-rated time the Seller lived in the home that was credited at closing. The easy way to determine how much will be deducted from your sale proceeds is to simply take your total tax amount, divide by 365 days to obtain a per day figure. Then determine how many days you lived in the home and multiply that number by the per day amount.

Pro-ration for any HOA monthly fees can be done the same way. If you have paid for entire year in advance for the fiscal year, you will receive a credit for the days you did not own home.

Pro-ration for propane tank contents and possibly any other utility bills can all be calculated the same way.