SILICON VALLEY RESULTS TEAM
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Silicon Valley Results Team: http://www.ResultsTeam.com

Tax Prorations






Home Shopping Wants and Needs Chart (in printer friendly format)
Home Shopping Checklist (in printer friendly format)
Home Buying Action Plan
Renting or Buying ?
(A Link to Freddie Mac)

The Loan Process
Mortgage Loan Checklist

Loan Calculator
Mortgage Interest Calculator
Self-Examine Loan Qualification
Concurrent Co-Ownership Interests
Important Property Tax Dates
Tax Prorations

Also, You should learn about...

> What Is Closing Costs
> What is and What Happens in Escrow?
> The Life Of An Escrow
> Real Estate Glossary
> If You Are An Upgrading Buyer...





Annual Property Tax Bills are Collected in Two Installments

1st Installment

July thru December
Due: November 1st
Late: December 10th

2nd Installment

January thru June
Due: February 1st
Late: April 10th

BUYER
If You Close...
Buyer Will Owe
If Taxes Are Current....
Jan 1
6 months
of 2nd Install.
Feb l
5 months
of 2nd Install.
Mar l
4 months
of 2nd Install.
Apr 1
3 months
of 2nd Install.
May l
2 months
of 2nd Install.
Jun 1
1 month
of 2nd Install.
Jul 1
6 months
of 1st Install.
Aug 1
5 months
of 1st Install.
Sept 1
4 months
of 1st Install.
Oct 1
3 months
of 1st Install.
Nov 1
2 months
of 1st Install.
Dec 1
1 month
of 1st Install.
 

SELLER
If You Close...
Seller Will Owe
If Taxes Are Current....
Jan 1
6 months
of 1st Install.
Feb1
1 month
of 2nd Install.
Mar1
2 months
of 2nd Install.
Apr 1
3 months
of 2nd Install.
May 1
4 months
of 2nd Install.
Jun 1
5 months
of 2nd Install.
Jul 1
6 months
of 2nd install.
Aug 1
1 month
of 1st Install.
Sept 1
2 months
of 1st Install.
Oct 1
3 months
of 1st Install.
Nov 1
4 months
of 1st Install.
Dec 1
5 months
of 1st Install.
 

Lender Required Prepaid Impounds
Month Recorded
First Payment Due
Estimated Tax Reserve
Status of taxes
January
March 1
5 months
Ist lnst. Paid
February
April 1
I month
Both Inst. Paid
March
May 1
I month
Both Inst. Paid
April
June 1
2 months
Both Inst. Paid
May
July 1
3 months
Both Inst. Paid
June
August 1
4 months
Both Inst. Paid
July
September 1
5 months
Paid thru Jun 30
August
October 1
6 months
Paid thru Jun 30
September
November 1
7 months
Paid thru Jun 30
October
December 1
6 months
2 mo if 1st paid
November
January 1
3 months
1st Inst. Paid
December
February 1
4 months
1st Inst. Paid
 

Source: Fidelity National Title
THE TOP 1% SALES TEAM IN THE UNITED STATES